This article is from the Australian Property Journal archive
SIR Michael Hintze’s MH Premium Farms has sold the 982-hectare Glaisnock mixed-farming enterprise, in the South West Slopes region of New South Wales, for $8.805 million to the neighbouring Caldwell family.
CBRE’s Col Medway, Richie Inglis and Ian Robertson sold the 125 Glaisnock Road property at Berthong. The sale price was almost 20% stronger than recent transactions in the area, beating the district record by close to $350 per hectare.
Glaisnock is located 26 lineal kilometres from Young and in proximity to Cootamundra, Temora and Harden, in an area highly regarded for its quality mixed-farming land.
Its current production model focuses on wheat and canola in rotation, while legume pastures support sheep, cattle and fodder enterprises.
Some 96% of the land is arable, while the remaining area is comprised of 20 hectares of grazing land and 16 hectares of support land.
Improvements include a five-stand shearing shed, steel sheep yards, covered steel cattle yards, lockable workshop and machinery shed, grain shed, chemical shed, hay shed, 1,160-tonne silo grain storage, and a five-bedroom weatherboard homestead and cottage.
MH Premium Farms had owned the property for 10 years, and the sale was prompted by its long-term manager moving closer to Wagga to take up a senior role in the organisation.
The group recently bought the 842-hectare grazing aggregation at Willatook, south-west of Bendigo from the Webster family for circa $7.5 million, having acquired the Cheviot Hills estate nearby for $10 million early in 2017.
Australian Property Journal
