The dedicated cattle property known as Ebenezer Downs comprising 757 hectares (or 1,871 acres) and located 16km west of Naracoorte, sold at auction for a record price of $7.8 million last Wednesday. The auction was held at the Naracoorte Town Hall with approximately 90 people attending with seven bidder registrations.
A strong opening bid of $6 million was received from the floor which commenced the proceeding with animated bids of $100,000 and $50,000 following.
The property sold under the hammer, with the sum equating to $4,168 per acre to Angas Brinkworth - a new price record for the Stewarts Range district.
Vendors, the Randell family, have managed the property with a keen interest in sustainability. This position has been established from the ground up with an emphasis on soil health and animal health.
Selling agent Cameron Grundy of Ruralco Property – SAL Real Estate Naracoorte, said the strong result was a direct reflection of the low interest rate environment, the security of the mid-South East and optimism surrounding the livestock sector.
For further details contact Cameron Grundy 0408 843 096. - 25 minutes ago