Locals beat lifestylers to $2.5m Southern Tablelands farm
A well-watered grazing property in the NSW Southern Tablelands east of Crookwell has sold for more than $2.5 million to a local farming family, in the latest example of producers looking to expand their footprint amid bumper conditions.
Local interests out-bid lifestyle buyers for the 160 ha property named Petrichor, which is more than 200 kilometres from Sydney and even closer to Canberra.
Featuring high rainfall and reliable water sources such as springs, dams and the Wheeo Creek, the property was marketed for offers above $2.5 million and was sold before the expressions of interest period closed.
LAWD’s Col Medway, who brokered the farm, said properties of its size that were close to major cities were typically pursued by city-dwellers seeking lifestyle blocks or developers on the hunt for subdivision potential.
“Although Petrichor has been run as a cattle operation, very often when these smaller blocks become available, they attract a large volume of buyers from the city lifestyle market, particularly when they are within three hours of Sydney.
“Agriculture, however, is in an extremely strong position given the combination of record high commodity prices, low interest rates and excellent seasonal conditions, placing producers in a position to more aggressively pursue smaller properties to complement their existing businesses.
“This is reflective of the current appetite of local farming businesses to expand, and the farmer-to-farmer sales trend that has underscored the incredible escalation of prices and land values we have seen in rural property over the recent period.”
With capacity to carry 120 cows in a spring calving weaner operation, Petrichor had been held by Nagy and Margaret Sorial since 2019. It complemented their Goulbourn district beef enterprise, which includes two cattle studs, McSorial Reds and Supermoon Speckle Park, as well as a commercial operation.
“Petrichor has always performed for us, and paved the way for us to expand, giving us more land and the right conditions to always have reliable grass reserves and an oats crop for feed,” Mr Sorial said.
The property had been named by his family as Petrichor – meaning the smell of rain falling on dry ground – because of its reliable rainfall, averaging 855 millimetres a year.
“It’s just a beautiful block of land,” Mr Sorial said. “At the back of Petrichor you are nine hundred metres above sea level, there is a spectacular view, and it always smells of rain.”
The property is divided into 16 established paddocks to facilitate weekly stock rotations.
“We have always had the block under stocked, that has just been our preference as we prefer to really look after our land.
“We didn’t anticipate we would have any trouble selling Petrichor, as it is just such beautiful land, but the process has been very smooth and we were pleasantly surprised to accept an offer before the expressions of interest had closed.”
