SA property sales off to strong start

SA property sales off to strong start

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A PROPERTY near Penola has sold for more than $11,700 a hectare, more than $4.5 million in total, while an Eyre Peninsula holding sold for more than $3.6 million, signalling strong demand for quality mixed-farming and livestock operations in 2020.

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A PROPERTY near Penola has sold for more than $11,700 a hectare, more than $4.5 million in total, while an Eyre Peninsula holding sold for more than $3.6 million, signalling strong demand for quality mixed-farming and livestock operations in 2020.

A portfolio near Mount Damper and Wudinna in the Eyre Peninsula and Plana, a productive livestock property near Maaoupe, sold in the early stages of 2020.

Local grain and sheep producers the Foster family owned the Eyre Peninsula property - 2231ha of continuous cropping and grazing land across three parcels - which was bought by a Yorke Peninsula farming business on a leaseback arrangement for $1,650/ha.

In SA's south east, the Hall family had owned the 392ha Plana lot for 65 years.

Three neighbours joined forces to buy the property for more than $11,700/ha, for cattle-focused livestock production.

CBRE Agribusiness's Phil Schell and Angus Bills managed the campaigns, attracting 45 enquiries for the Eyre Peninsula holding and 70 in Penola.

"There was significant interest in both properties," Mr Schell said.

"That is a reflection of their quality, location and the opportunities they present, and the outcome in Penola in particular was an exceptional result for the vendor.

"It also highlights the strong demand for mixed-use and livestock farming operations we have seen in the early stages of 2020."

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