A major opportunity has arisen in Australia for farmers or investors looking to escape the UK’s economic uncertainty and high land prices.
Set in the New England region of New South Wales, Glendon is described as a superb 5300-acre (2140ha) commercial cattle property in an increasingly sought-after corner of south-eastern Australia.
Glendon’s sheer scale sets it apart in the district and offers economies of scale hard to achieve in more traditionally-sized holdings elsewhere. It also offers what agent Smiths Gore says is an unparalleled level of versatility, with more than 2000 acres available for arable farming, and fodder crops grown alongside grazing land.
Rainfall at Glendon averages 33 inches (845mm) per annum, and the farm also has double bank frontage to Plains Creek, from which water is pumped to header tanks that feed a system of troughs.
The vendors, John and Caroline Paterson, left their Cheshire farm 10 years ago and moved the family to Glendon. Mr Paterson said he had no regrets and no intention of returning to the UK.
For anyone looking to buy, a weak Australian dollar would work in favour of UK buyers. Meanwhile, its weakness against the US$ is working in favour of Australia’s export-driven economy. “I am entirely confident that Glendon will sell on, or about, the guide price of $9.25m (£3.7m),” said selling agent, Philip Jarvis. “It’s just a matter of whether it’s an institutional buyer or a farming family.”
Giles Wordsworth, head of Smiths Gore farm agency in the UK, added: “The increasing demand for commodities from Asia has always favoured the geographical location of Australia and New Zealand. With land values at approximately £1745/acre, this must be an opportunity worth considering for those able to move further afield.”
Expressions of interest are invited by 4 December, 2008.