NSW farmland pulls five bidders, sells for $10.8 million
A 757-hectare property near Cowra sold above reserve in a five-way auction, showing strong farming demand.
Burley, a Central West property 23 kilometres from Cowra, sold for $10.8 million on Friday. The price equals about $14,267 per hectare.
Five registered bidders competed for the freehold. The property went to a local consortium above its reserve price.
The property's draw is its balance of productive red loam country and white box timber. It suits sheep, cattle, cropping and hay production.
Burley has 24 paddocks and excellent water security through dams and pipeline access. It also has three sets of cattle yards, a four-stand shearing shed and storage.
Marketing agent Stewart Murphy said the district is tightly held because of the land's quality and productivity.
- $10.8 million
- Sale price
- 757 hectares
- Property size
- 5
- Bidders
- $14,267
- Price per hectare
Why it mattersStrong demand for farmland shows rural investors' confidence in agricultural returns.
AustraliaNSW farmland prices remain competitive, encouraging investment in productive Central West grazing and cropping country.
