Auction room gets heated for prized South West Slopes farm

MH Premium Farms has divested close to 1,000ha of mixed farming land in NSW’s South West Slopes region for $8.805 million – reflecting a district record price of $8,933 per hectare.

Glaisnock – located in Berthong, 26km from the township of Young – is a prime farming property boasting 96% arable area, suited to cropping as well as a range of grazing enterprises on improved pastures.

CBRE’s Col Medway, Richie Inglis and Ian Robertson negotiated the sale of Glaisnock on behalf of MH Premium Farms to a local family farming group via public auction.

Mr Inglis said the sale price was almost 20% stronger than recent transactions in the area, beating the district record by close to $350 per hectare.

“The property was sold at a packed, standing room only auction room, with attendees spilling outside of the front door. Three parties competed strongly in the sale process, with the eventual purchaser a local group,” Mr Inglis said.

“This transaction highlights the strong attraction of faming land in this tightly held region, where local sales are strongly contested by several strong family and corporate farming opportunities – all of which are seeking expansion opportunities. Glaisnock is situated alongside a number of these groups meaning it is an ideal add-on opportunity – underpinning the strong competition within the auction room.”

Glaisnock includes numerous operational improvements, including extensive reticulated water system for livestock, spraying and domestic purposes. The homestead and cottage provide comfortable accommodation options for owners, managers and staff.

The South West Slopes is regarded as a blue-ribbon, mixed-farming region, highly acclaimed for its strong, consistent production performance.