The 2,800 h.a property, which is considered to be one of the Upper Murray’s most prized beef enterprises, was sold on behalf of Chinese-owned Union Agriculture to a private buyer at auction. An Angus cattle breeding herd with Wagyu bulls was included in the sale.
The property Mount Falcon is a commercial beef operation, with an estimated carry capacity of circa 1,200 breeding cows and is well located at only 29km from Corryong, 153km from Albury-Wodonga and 166km from Wagga Wagga.
Colliers’ Henry Mackinnon, Executive, Agribusiness, said that interest from the market had come from both family farmers and investment funds. “We had 60 enquiries and 23 inspections throughout the campaign and interest was very strong particularly from drought-affected farmers looking for grass,” Mr Mackinnon said.
“Demand for properties with high rainfall continues to be strong, along with land values continuing to exceed market expectations. This is underpinned by a number of factors including current livestock prices, increase in demand for protein, and low interest rates.”
Angus McLeod, Director, Agribusiness commented “The strong sale price can be partly attributed to the continual investment undertaken by Union Agriculture during in perennial pasture upgrades, increased annual fertiliser application, extensive weed control and fencing programs.”
Inglis Rural Property Sales Manager Sam Triggs said, “We were overwhelmed with the strong demand for Mount Falcon including domestic buyers on Auction day from Queensland, Victoria, NSW along with International buyers telephone bidding.”
“The sale of the property demonstrated the strong demand and depth in the market for high rainfall and quality assets – rainfall is front of mind due to the dry conditions in Eastern Australia.”