THE well grassed 1429 hectare (3531 acre) Taroom property Loch Craig has sold at auction for $4.925 million, significantly above its reserve price.
The sale price is equal to about $3446/ha ($1395/acre).
Marketing agent Darryl Langton, Landmark Harcourts, said the sale price reflected the ongoing strong demand for rural property.
A total of nine parties had registered to bid at the auction with four of those parties active during the auction. The buyer was from Northern NSW. Mr Langton said there had been 20 inspections of Loch Craig in the run up to the auction on Thursday.
Located 10km north of Taroom, the tick free country is described as undulating brigalow, bottletree, belah and softwood scrub falling to fertile Dawson River Flats. There is a small area of red loams with scattered box, ironbark, and eucalypts.
There are large frontages to both the Dawson River and Palm Tree Creek. Some 67ha of the Dawson River flats have been farmed and are currently fallowed. Further areas of cultivation returned to grass.
Improvements include a three bedroom homestead, cottage, four bay shed, and cattle yards. Loch Craig is fenced into 14 main paddocks and holding paddocks.
Water is supplied from permanent waterholes in the Dawson River, six dams and a spring.
