An impeccably maintained investment opportunity at Borden sold for $35 million, after just six weeks of exposure to the market by LAWD.
Attracting about 40 people, across more than 20 inspections, there was no shortage of interest in Shooters Hill aggregation, in the Great Southern region, driven by LAWD's competitive expression of interest campaign.
Operating entirely as a dryland cropping enterprise since 1996, the aggregation included a total 4387 hectares, comprising four semi-contiguous holdings known as Madgedup (2210ha), Shooters Hill (1163ha), Tin Hut (527ha) and Block (486ha) and utilised for the production of wheat, barley, oats, canola, faba beans, lupins and field peas in the most recent years.
Shooters Hill aggregation represents a highly esteemed piece of farming land, with more than a century of family history and 25 years of reliable crop data recorded.
LAWD director Simon Wilkinson congratulated both the vendor and successful purchasing party following the sale.
"Congratulations to our vendors John and Kerry Stone and their families, who invested in high-quality structural and land ameliorant improvements over the 115 years of generational ownership," Mr Wilkinson said.
"The buyers will benefit from a well-established homestead dwelling, workers' accommodation, machinery shed, general purpose shed, chemical shed, fertiliser sheds, shearing shed and grain storage.
"Being an outlier in terms of location and performance for the region, Shooters Hill aggregation has a history of achieving strong yields."
In 2021-2022, the enterprise recorded an average of 3.83 tonnes per hectare of wheat, 3.56t/ha of barley, 3.11t/ha of oats, 1.75t/ha of canola, 2.05t/ha of faba beans and 1.64t/ha of lupins.
The aggregation has ample water infrastructure, including earth dams and strategically located spray tanks, further supported by excellent climate characteristics and an average annual rainfall of 398 millimetres.
Mr Wilkinson said Shooters Hill aggregation presented a rare opportunity for the market to secure an unparalleled dryland cropping operation underpinned by an extensive history of land improvement.
"The vendors conducted soil enhancement projects across the aggregation as well as an annual fertiliser program, to maintain and enhance the long-term productivity and sustainability of the land," he said.
"Shooters Hill aggregation was highly sought after, receiving multiple expressions of interest - varying from proposals for the acquisition of individual assets to the entire aggregation.
"Twenty-two inspections were conducted, with the successful purchaser securing the aggregation for $35m, equating to $10,720 per arable hectare including infrastructure."
It was certainly a successful day for all involved and Shooters Hill aggregation will continue its dryland cropping enterprise under the new ownership.
