Recent Developments in South Australia’s Property Market

In recent weeks, the property market on South Australia’s Eyre Peninsula has witnessed notable transactions, including the listing of the HFE Aggregation and the sale of O’Kiltabie. Additionally, in the Murray-Mallee region, the historic property Turners Well has been sold locally.

HFE Aggregation

The Hancock family has put their extensive continuous-cropping portfolio on the market, known as the HFE Aggregation, situated on the Eyre Peninsula. This substantial 2429-hectare property is strategically located just 11 kilometers south of Lock and 69 kilometers north of Cummins, placing it in proximity to key grain-receiving facilities at Lock, Cummins, Lucky Bay, and Port Lincoln.

The aggregation is situated in a region that experiences an average annual rainfall of 300-350 millimeters and encompasses four non-contiguous but nearby holdings. Daniel Schell, a representative from Ray White Rural, noted that there has been significant early interest from local farmers looking to expand their operations, as well as producers seeking geographic diversification.

The land features flat to undulating terrain with sandy loam soils overlaying clay, which are conducive to growing a variety of crops, including wheat, barley, canola, and lentils. Each of the four properties within the aggregation has been divided into large paddocks, designed for efficient cropping operations. Most of the land has undergone deep ripping in the last two years to enhance soil conditions.

• 611 hectares at Shangri-La: Features a circa-1930s five-bedroom home, a three-stand shearing shed, sheep yards, multiple sheds, and eight seed silos.
• 571 hectares at Abilene: Includes a circa-1930s three-bedroom workers’ residence and a shed.
• 537 hectares at Kings: Offers a circa-1950s two-bedroom workers’ residence, a two-stand shearing shed, sheep yards, and two additional sheds.
• 709 hectares at Teraleah: Comprises three sheds.

“The HFE Aggregation boasts a strong history of effective management, with a well-respected local farm manager implementing a best practice continuous cropping program over the past five years,” said Mr. Schell. The properties will be auctioned on March 25, and potential buyers have the option to acquire the entire aggregation with an inclusive walk-in, walk-out machinery arrangement or choose individual lots.

Turners Well

The Zadow family, who had owned Turners Well for several generations, has sold the historic mixed farm, which spans 1643 hectares, to a local farmer looking to expand their operations. Located near Perponda, approximately 16 kilometers north of Karoonda and 62 kilometers from Murray Bridge, east of Adelaide, Turners Well attracted considerable interest during the sale process.

Andy Edwards from Nutrien Harcourts, who facilitated the sale, was unable to disclose the buyer or the final sale price. However, he confirmed that the transaction met price expectations. “Turners Well garnered significant interest from local farmers, as well as value-driven New South Wales farmers who have been priced out of other higher-rainfall regions,” he stated.

Turners Well at Perponda has sold locally. Photo: Nutrien Harcourts

During the marketing campaign, Mr. Edwards described Turners Well as an easily manageable property that presents buyers with an opportunity to add significant value through minor renovations. The property features mostly sandy loam soils that have been conservatively farmed, and rationalizing the existing 11 paddocks would provide a quick route to increased value for prospective croppers.

While the previous focus of the farm has been on sheep, 1518 hectares are arable and suitable for growing wheat and barley. The property is serviced by a bore and benefits from an annual rainfall of 339 millimeters. Infrastructure includes a residence, a three-stand shearing shed, sheep yards, and several storage sheds. Additionally, Turners Well was historically part of a stock route and features a disused watering point along with several older structures.

O’Kiltabie

In another significant transaction, an independent environmental enterprise has acquired a mixed farm near Mount Wedge on Eyre Peninsula. The expansive 3340-hectare property, known as O’Kiltabie, was introduced to the market in October of last year as a potential investment or expansion opportunity.

O’Kiltabie on the western EP has sold to an independent environmental enterprise. Photo: Elders

The sale of O’Kiltabie was conducted via an expressions-of-interest process managed by Elders agent Luke Duncan, who also could not disclose details regarding the buyer or the transaction price. The property, located 53 kilometers north-east of Elliston along the Eyre Peninsula’s west coast, is well-suited for both cropping and livestock enterprises.

At the time of the sale, O’Kiltabie was engaged in the cultivation of 282 hectares of wheat and barley, with the remainder of the land dedicated to sheep farming. The property is serviced by three windmills and a solar-powered bore, situated in a region that receives an average annual rainfall of 300 millimeters.

Grain Central: Get our free news straight to your inbox – Click here