In the biggest single reported sale of NSW grazing country for several years, a well-known Barraba district aggregation has changed hands for an undisclosed price in excess of $20 million.
'Plumthorpe' and the adjoining 'Campo Santo', both owned by Sydney turf identity, Bruce McHugh, were sold to an undisclosed buyer who is believed to have other property interests in the area.
And in another New England mega-sale, contracts are understood to have just exchanged on a prime Eastern Fall grazing property, 'Maida Vale', for a figure of more than $15 million.
The two deals (assuming the latter one is confirmed) reinforce the solid ongoing demand for well-watered cattle country in a rural property market that is otherwise providing few bright spots.
Also in the north, tenders closed yesterday for the North West feedlot and broadacre cropping property, Gunnee Station at Delungra, with a decision expected to be made by June 6.
Tenders are understood to have been received for the 3600-hectare property – bought in 2004 by Mort and Company Lot Feeders – both as a whole and in its three component blocks.
The 'Plumthorpe'/'Campo Santo' sale was negotiated by Terry Burke, Burke and Smyth, Tamworth, with Chris Meares, Meares and Associates, Sydney.
It involves close to 7000ha of mostly basalt country fronting the Manilla River 15 kilometres north-west of Barraba, and a breeding herd of some 1700 Angus and Hereford cows, plus replacements.
SOURCE: Extract from a full report in The Land, NSW, May 8 issue.