This article is from the Australian Property Journal archive
THE family of former Fairfax CEO, the late Greg Gardiner has divested a northeast NSW dryland and irrigated cropping enterprise for around $40 million to the Sydney arm of the wealthy Baillieu family.
Ruvigne, which spans 2,658 hectares on the Liverpool Plains, near Gunnedah, was put to the market in March and reportedly sold in line with expectations.
The purchaser, Marshall Baillieu and family, adds Ruvigne to their existing holding, the 4,637-hectare Tongy Station. That was bought in 2015, but has been purchased by W.L. Baillieu about a century ago.
The Baillieu family includes former Victorian Premier Ted Baillieu.
Inglis Rural Property’s Sam Triggs managed the expressions of interest campaign on behalf of the Gardiner family, which had picked up Ruvigne about 20 years ago and expanded it to its current size by collecting neighbouring properties.
Greg Gardiner’s son Nick took over running the property when Greg passed away in 2009.
Ruvigne boasts strong income and profitable returns from cotton, wheat, barley, sorghum, soybeans, mung beans, sunflowers and canola in addition to cattle production.
It has 854 hectares of irrigation development supported by 4,090 ML of storage dams and natural storages.
Water is a feature. There is 14 kilometres of direct Mooki River frontage and 933 ML of Mooki River general security entitlements, and 1,130 ML of ground water, a 2,759 ML floodplain harvesting licence, and a newly-built 2,400 ML storage cell along with a second 800 ML, a third 90 ML cell plus 800 ML. Existing and carryover water entitlements were included with the sale.
Working improvements include shedding, workshop, grain storage and well-maintained pumping infrastructure.
Ruvigne has a renovated five-to-seven-bedroom Federation Homestead set in landscaped gardens with an in-ground swimming pool and tennis court. There are significant historic outbuildings, horse stables, office and cottages, a modern managers’ residence, two staff cottages and guest cottage.
