This article is from the Australian Property Journal archive
THREE neighbouring grazing properties in a tightly-held district of South Australia were snapped up by a local producer for more than $30 million, part of more than $80 million worth of agricultural land deals in the state’s south east in recent weeks.
The near-3,000-hectare offering in Taratap comprised Deb and Bruce Nulty’s 1,292-hectare Punari and the 1,196-hectare Oakbank, as well as the adjoining 420-hectare Taratap.
Cattle and sheep production are suited to Punari and Oakbank aggregation, which can run around 6,000 ewes and lambs plus 400 head of cattle, while the owners have been cutting hey from ryegrass and clover mixed.
Productive heavy grey loams over clay flats have an ability to grow an abundance of feed during the spring and early summer, while high ground country provides shelter for livestock.
Taratap, currently being run as a mixed prime livestock enterprise, is ideal for all-year-round grazing with a balance of productive flats and high ground.
Meanwhile, the Dinning family have sold their 1,164-hectare cattle farm Yalandro after 80 years of family ownership.
Located 35 kilometres from Bordertown, the property is now in the hands of a local landholder with substantial holdings are it traded within the expected price range of $15 million to $17 million.
Fifty kilometres to the north, the Agnew family have sold their 455-hectare grazing and horticulture farm to the local Tranter family for $8,050,000.
The Tranter family will use the property to expand their mixed farming operation, which includes potato production. They also secured a licence of almost 500 megalitres.
In Penola’s Coles region, the Lillicrap family paid $5.4 million at auction for 266-hectare Hodges mixed farm that had been held by a local family since 1964. The farm has the potential for cropping and has traditionally been used as a prime lamb breeding and finishing property.
The deals follow the $22 million sale of 630-hectare grazing farm Binbrook at Lucindale, smashing pre-auction expectations of about $15 million.
In another change of hands after a long-term hold, it was offered to the market by Tom and Kerry McWaters after 70 years of ownership.
