North Bogabigal is being offered for public sale ‘as a whole’ as well as in three separate lots, by Expressions of Interest (EOI) with expressions closing at 12 noon AEST Thursday 14th September 2023.
Forbes based rural property specialists Johnston Rural Group are pleased to present to market North Bogabigal – an exceptionally well-located, mixed farm in the heart of the Lachlan Valley.
The property, which today comprises approx. 547.5 hectares (1,352 acres), boasts a prime location just 11km west of the historic township of Forbes and Newell Highway. The productive mixed farm, which is approx. 90% arable, is a versatile holding suited to both livestock and cropping having successfully grown high yielding cereal crops and produced prime lambs, goats & lucerne hay. The offering is underpinned by a combination of soil types ranging from highly fertile alluvial creek flats adjacent to the Broad Creek to sandy loams and heavy grey clays through the middle.
Key features include Lachlan River access via a pumping station and underground water supply pipeline, 1.3km frontage to the Broad Creek, 510 MgL General Security River Water Access Licence, near new 60ha (150ac) Bauer centre pivot and a dedicated internal drainage system which diverts local water off the property after heavy rainfall events.
The main improvements consist of a 3 / 4 BR homestead, 3 BR cottage, hay shed, 2 machinery sheds, workshop, older style shearing shed with adjoining sheep yards, wash down bay, chemical shed, piggery / wet weather livestock shed and old shearers quarters.
The Vendor’s Phillip (Australian Olympian and highly decorated Commonwealth Games Medallist) & Ann Adams have made the decision to sell in order finalise their full-time retirement objective after initially moving into town several years ago and overseeing the farm remotely. North Bogabigal has been in the Adam’s Family for over 70 years, after it was initially purchased by the Adam’s Brothers Partnership (a partnership between Phillip’s father and uncle).
Under Phillip and Ann’s ownership there has been a focus on lucerne and livestock production (including a goat embryo transfer program), improving on-farm drainage, and more recently on a spray irrigation development project on North Bogabigal (South) in 2019.
Marketing Agent Sam Johnston of Johnston Rural Group said that “North Bogabigal will no doubt appeal to a large spectrum of the active buyer pool due to its prime location, combination of underlying soil types, access to the Lachlan River and Broad Creek, 510MgL irrigation water and near new 60 ha (150 ac) centre pivot, and more importantly its scope for future development and investment upside.” Further reinforcing that: “This fundamentally sound asset is primed for additional development and is ready to be taken to the next level through progressive management coupled with a prudent capital injection.”
The Vendor’s are fully committed to the sales process and have recently had the property independently valued which has assisted them is formulating a realistic price guide of $6.5m to $7.0m which includes the land, water, and fixed improvements.
For additional commentary, a detailed information memorandum or photos please contact: Sam Johnston 0412 896 602 sam@johnstongroup.com.au or Gary Johnston 0427 574 270 gary@johnstongroup.com.au