Graziers run on SE properties

Robe auctions make $7.65m

News
Two properties - Akeringa and Bulgana - auctioned by Elders last week set a new SE dollars a hectare auction record.

Two properties - Akeringa and Bulgana - auctioned by Elders last week set a new SE dollars a hectare auction record.

Aa

Prices for South East grazing land have reached fever pitch, rising as much as 20 per cent in the past year.

Aa

Prices for South East grazing land have reached fever pitch, rising as much as 20 per cent in the past year.

Two properties – Akeringa and Bulgana – at Bray, near Robe, sold at auction on Friday last week for $3.8 million and $3.85m respectively, setting a new SE dollar a hectare record.

The 542ha and 468ha blue ribbon properties were offered by the Bullock family.

Elders South East real estate agent Grant Schubert and Elders auctioneer Andy Edwards (right), with thrilled vendors Bill Bullock, Margaret Bullock, Tony Bullock and Wendy Ogilvie.

Elders South East real estate agent Grant Schubert and Elders auctioneer Andy Edwards (right), with thrilled vendors Bill Bullock, Margaret Bullock, Tony Bullock and Wendy Ogilvie.

Elders rural salesperson Grant Schubert said it was an “exceptional result” after more than 20 inspections.

“They were immaculately presented, ‘turn key’ properties, which is what the market wants,” he said.

“And with late spring takeover and the properties slowly being destocked, the purchasers will go in with plenty of grass.”

SAL Real Estate is hoping to achieve similar results at three upcoming auctions this month, including 798ha Ledgard at Greenways on Thursday next week.

Rural land salesperson Cameron Grundy said the tremendous start to the season was motivating vendors who were considered selling in the next 18 months to two years to list now.

“The mid and Lower SE have had one of the best starts in living memory so the properties are looking their best and people are rightly getting in while there are a lack of farms to purchase,” he said.

Mr Grundy said there was “pent up demand”.

“Interest rates continue to be low and banks are getting behind their clients to expand,” he said.

“The grazing fraternity are well-heeled with returns in the last two or three years.”

                    – CATHERINE MILLER

Aa

From the front page

Sponsored by