RURAL real estate in SA remains a sellers' market with listings low and agents blown away by the level of interest from family farming businesses and investors.
This has translated into some substantial sales and plenty more off-market transactions in the past couple of months.
Wertaloona Station in the Flinders Ranges, which the Rowe family put on the market early this year through Elders, is under contract subject to pastoral board approval.
It is believed to have made in the advertised range of $10 million to $12m.
Colliers agribusiness director Jesse Manuel has also confirmed an offer has been accepted on a "substantial part" of the Keynes families' Red Creek and Karinya stations in the Barossa Ranges.
The remaining land from the 4596-hectare listing will be re-offered to the market shortly.
"As it turns out, the land that is still available is what I consider to be the pick of the country and it is in very good heart at present, given the favourable spring we are experiencing," Mr Manuel said.
District records have continued to fall at spring auctions, including 556ha Yorke Peninsula cropping property Barretts at Warooka, which made $5.15m earlier this month.
Nutrien Harcourts SA real estate manager Simon McIntyre said this was double the price paid for the last land in the area three years ago.
"There is always a strong level of demand on YP and any supply is short lived, but we have seen a lot more willingness by some in central YP to head south, especially with the higher yields the farmers in the area are getting," he said.
Ray White Rural SA has sold all five properties it had up for auction, with the standout being Woodlands Brae at Hill River, near Clare, which made $17,920/ha.
Hopes are high of two recently-listed Flinders Ranges stations, Moolooloo and Edeowie, also making top dollar, given the turnaround of seasonal fortunes in the pastoral area and strength of livestock markets.
For the first time in four generations, the Slade family is offering 60,000ha Moolooloo, which has a maximum prescribed stocking rate of 10,250 DSE.
Elders real estate general manager Tom Russo says there has been an "unbelievable" response since the station was listed a fortnight ago. It is for sale by expressions of interest with a $5m-plus price guide.
"It is in one of the prettiest parts of the Ranges and offers a mixture of wonderful lifestyle and tourism operation, but pastoralists also see it as a good productive station," he said. "It is in a price range that is accessible to larger number of investors, so we are expecting a lot to look at it."
After 44 years, Leonard and Sharon Nutt are selling Edeowie Station, walk-in walk-out, with 2290 ewes plus plant. The auction is on December 8.
Mr McIntyre says it is in a fantastic location on the sealed Outback Highway.
"It is not an overly large station, but it is a well-presented place. Leonard and the family have been really forward thinking in the way they manage the country," he said.
Mr McIntyre said there was a level of confidence in the ag sector not seen in years, driving property prices.
"It (value) often comes down to the available opportunities for those looking to expand and we are seeing them willing to go a little harder to get it - whether that is 5 per cent, 10pc or 20pc more," he said.
Large-scale South East aggregation Calgara Station, Tintinara, is tipped to make $20m or more, with EOI closing tomorrow.
Elders Upper SE agent Mike Lind said there had been exceptional interest in the 4299ha property, but in the past 12-18 months it had not been unusual to receive double and even triple the enquiries for land.
He would not be drawn on a price for Calgara, but noted that there had been four properties sell around the boundary in recent times from $4570/ha to $5435/ha.
- Barretts, Warooka: 556.1ha for $5.15m (Nutrien Harcourts)
- Herdale, Melrose: 517ha for $4.6m (Wardle Co)
- Flavels, Port Broughton: 201ha for $3.4m (Wardle Co)
- Woodlands Brae, Hill River via Clare: 170.9ha for $3.06m (Ray White Rural SA)
- Haywood Park, Stansbury: 306.81ha. Auction set aside at $2.42m and sold after for an undisclosed higher figure (Nutrien Harcourts)
- Homestead and Bews, Parilla: Homestead block 367.9ha for $960,000 and 523.7ha for $1.5m (Ray White Rural SA)
- Glenora Station via Burra: 5864ha for $1.375m (Ray White Rural SA)
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