PRIVATELY-owned agricultural business TA Field Estates has paid $10.3 million at an auction in Armidale today for two adjoining properties in the New England district of NSW.
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The Sydney-based company headed by Michael Field first paid $7.65m for Doughboy Mountain, a 1352-hectare (3340 acre) which was offered by the Sydney-based Salter family.
TA Field then topped the bidding on the Armidale-based O’Connor family’s Mirrugalee paying $2.75m for the 540ha (1337 acre) property.
Doughboy is estimated to run 1000 breeders. It is located at Ebor, at an elevation of 1300 to 1495m on the Eastern Fall midway between Armidale and Coffs Harbour.
About 80 per cent of the property is described as being rich basalt soils. The average annual rainfall is 930mm and there are four spring fed creeks, dams, and a water reticulation system.
Improvements include a homestead, cottage, sheds and yards. There is also 37km of new fencing.
The adjoining Mirrugalee is described as a having about 80pc rich basalt soils. Improvements include a home, sheds and yards.
Marketing agent Bruce Rutherford from Landmark Boltons in Walcha said 17 parties had registered to bid at the auction. Doughboy Mountain had received 17 inspections while Mirrugalee had received 36 inspections from prospective buyers.
The sale of Doughboy was equal to about $5658/ha ($2290/acre). Mirrugalee was equal to about $5092/ha ($2057/acre).
TA Field already has other properties in the nearby Walcha district.
