A significant well established and superbly located cropping and grazing holding of 529 hectares, or 1309 acres, on the edge of the Holbrook Township will be auctioned in Wagga Wagga at the Mantra Pavilion Hotel on Friday 27 October at 11 am.
Ruralco Property’s selling agent Dan O’Brien says he expects the auction bidding to begin at $1.8 million for what is an ideally located holding of some scale that has been conservatively stocked and managed under the vendor’s ownership for the last seven years.
The property is known as 161 Burges Lane, that roadway being a continuation of Racecourse Road which naturally accesses the local racecourse.
“In consequence, the location is about five kilometres north of the Holbrook township which although bypassed by the latest major upgrade to the Hume Highway remains a popular stopping off point for all types of travellers.
“In fact, while the main frontage of this portion is to Burges Lane it also has a shorter exposure at one boundary to the old bypassed highway formation”.
Dan O’ Brien adds that about half the property on offer is level grazing land with the balance rising ground to hillier slopes.
“There is good quality fencing, a number of dams, with established vegetation along the fence lines, but no current building improvements.
“I am anticipating the buyer interest and demand for this property will come from two sources.
“An outside of the district buyer wanting to secure a holding of scale in the very well held local area which benefits from excellent access to the livestock markets within an hour at Albury and Wagga Wagga
“Or from an established local farmer wanting to increase his farm business enterprise without leaving the district”.
Dan O’Brien says that to favour the former buyer there would be a number of attractive new home building sites on the property.