Demand strong for Riverina property

DEMAND: This property in the Milbrulong, French Park district has sold under the hammer for $8.4 million. Picture: Supplied
DEMAND: This property in the Milbrulong, French Park district has sold under the hammer for $8.4 million. Picture: Supplied

A PROPERTY in the Riverina has sold for $8.4 million at auction to a fellow farming operator from the district.

"Karbarook" at Milbrulong was owned by the Simpson family and is well known for being a quality mixed farming property located in close proximity to The Rock.

The 954.2 hectare holding was highly sought after, according to Elders Real Estate agent, Geoff McGilvray.

"We predominantly had interest from Riverina based farming operations looking to expand," he said.

"It was an opportunity to acquire good sound land with great farming opportunities," Mr McGilvray said.

Meanwhile, there have been several other notable sales from the region with a Gregadoo property called "Gregadel" spanning some 2300 acres and making around $11 million.

Elders Real Estate agent Angus Macleod said "Top End" at Collingullie sold under the hammer late last year for $2.55 million.

"It was 469 acres (189.8ha) of good arable country," Mr Macleod said.

In addition a 131.80-hectare property on the Tumut River, marketed by Webster Nolan's David Nolan, commanded $4.55 million.

Mr Nolan said the sale was nothing short of a stellar result with the per acre price equating to around $14,000.