This article is from the Australian Property Journal archive
A COTTON, cereal and grazing property in NSW’s Macquarie Valley irrigation district has traded between local families for around $30 million.
The Miller family had owned the 3,250-hectare Bowen Park for 70 years, with a trio of brothers putting the property up for sale to dissolve a family partnership.
Bowen Park passed in at auction for $29 million before going on to sell to a local farming family in a deal that included farmland, fixed improvements, and 4,271 megalitres of water entitlements plus carryover.
Located 75 kilometres from Dubbo, about 95% of the property is arable, with 457 hectares to flood irrigation and 972 hectares to dry land cultivation, while the 1,855-hectare balance can carry 330 breeding cows.
A further 1,505 hectares can be cultivated.
Soils are principally rich alluvial and black self-mulching soils, and selling agents Meares and Associates marketed the irrigated paddocks as “the most uniform soil types in the Macquarie Valley”.
Bowen Park has sandy red and heavy clay soils.
There is 3.4 kilometres of Macquarie River frontage, secure, reliable and available water from the entitlements, while there is 703 megalitres on-farm storage, eight equipped bores and 14 surface dams
Improvements include a four-bedroom homestead, two three-bedroom homes, 470-tonne grain storage, steel cattle yards, five-stand woolshed, stables, hay and numerous machinery sheds.
