PRESS RELEASE: Leading Rural Agribusiness Sold

PRESS RELEASE: Leading Rural Agribusiness Sold-upton-farms-for-sale-4

Upton Farms, Walcha/Niangala/Nowendoc NSW

One of the most dynamic farming business operations in Eastern Australia, Upton Farms has been sold prior to Auction, by Rural property specialists, Meares & Associates, Sydney.

The aggregation of four closely settled farms comprising 2,668 Ha (6,592 acres), located to the east of Walcha, and near the villages of Nowendoc and Niangala was sold on a walk in walk out basis to an undisclosed party for an undisclosed price.

Following an extensive national marketing campaign which drew over 100 enquiries and saw 25 inspections by parties from five states (NSW, Qld, NT, SA and Victoria) for the property both as a whole and in subdivision, the Farms were due to be submitted for sale by Auction today. However after receiving a number of requests to submit pre auction offers, the vendor agreed to receive the same. Consequently, this lead to a number of offers leading to the acceptance of one on a walk in walk out basis (including plant machinery and all cattle) by a rurally based family operation with existing beef properties - they plan to live ‘on farm’ on a permanent basis.

The Farms which have been purchased and highly developed over the past 60 years by the Upton family and principal Greg Upton, today stand as four outstanding highly developed and extremely intensive livestock operations, based on established high performance fescue and rye based pastures throughout, thus allowing for the fattening of heavy Euro cross steers all year round.

The Farms, originally selected for their generic features including heavy red and chocolate basalt soils, high rainfall (ranging from 35 to 45 inches) and location approximately 1,200 to 1,350 metres ASL on the top of the Great Dividing Range, have seen carrying capacity lifted over time to just under one medium to heavy steer per acre. This year, with its wall to wall pastures the Farms anticipate carrying up to 7,000 cattle during the coming spring.

Chris Meares for the exclusive marketing agents Meares & Associates commented ”Upton Farms are an extraordinary aggregation of pastured high rainfall rural property, featuring wall to wall high performance pastures, thus allowing for the outstanding carrying capacity they have, together with their ability to show weight gains in excess of 300 kg per annum, therefore allowing turn off of heavy fat steers every month of the year”.

“The properties are extremely well presented, with principally all displaying mature one to two year old high performance pastures, supplemented by water provided from 200 mainly spring fed dams and waterways, with excellent cattle handling facilities on all farms, together with outstanding housing on each”.

“Whilst the sale of Upton Farms has created a precedent for prices paid in the New England and for that matter rural NSW, I do not believe I have ever seen a better presented rural portfolio in all my years of marketing high end rural property”.

“Whilst the owner fully intended to proceed to Auction, knowing he had strong interest in both the portfolio as a whole as well as the individual properties, he was also keen to see the operation pass if possible to experienced cattlemen, expecting they would not only understand his development strategy but continue to utilise the same. He has achieved this.” Meares concluded.

Settlement will take place on 1st June 2022.

Wednesday April 13th 2022Chris Meares