This article is from the Australian Property Journal archive
HIGH rainfall properties Kentucky Blue and The Flags, at the top of the Great Dividing Range, have been put to the market by its retiring owners with expectations of between $55 million and $65 million.
Spanning 3,645 hectares in northern NSW’s New England region, the properties located in the Niangala/Nowendoc district, 50 kilometres south-east of Walcha and close to Tamworth, Gloucester and Casino.
Kentucky Blue covers 2,177 hectares with 930 hectares of established pastures, and can carry up to 1,100 cows or 14,500 dry sheep equivalents (DSE). The Flags encompasses 1,468 hectares and features 1,415 hectares of established pastures and can carry 1,650 cows or 25,500 DSE.
In total, the properties could carry up to 2,750 breeding cows or 6,000 steers, and 40,000 DSE, and could background and fatten around 6,000 steers in a commercial operation.
The properties comprise heavy rich chocolate and black basalt soils, with very reliable annual rainfall 900 to 1,500 mm. They boast outstanding livestock water with McDonald River and Smith’s Creek double frontages, also permanent creeks, springs, 70 dams and cattle troughs. About 2,350 hectares is ideal for high-performance improved temperate pastures.
About 80% of the property has new and near-new fencing, and there are 56 primary paddocks and an efficient laneway system.
Improvements include the four-bedroom Kentucky Blue homestead, four-bedroom manager’s home, and staff cottages.
Chris Meares from Sydney-based Meares & Associates is marketing the aggregation on behalf of Max and Jenny Mawhinney, who developed the properties as beef breeding operations with the ability to also background and fatten. Kentucky Blue was cleared and developed since they purchased the property in 2001, while The Flags was already well established.
The properties are being offered for sale as a whole and separately via auction starting 11am on 7th December and concluding 12 noon on 8th December.
Kentucky Blue and The Flags neighbour grazing property Upton Farms, which transacted in April for around $90 million on a walk-in, walk-out basis, including 4,500 head of cattle.
