Three major properties and 13 rural/lifestyle blocks will be the first land to be auctioned in a sell-off of more than 43,000 hectares acquired by the State Government for the failed Cobbora Coal Project.
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‘Avondale’, ‘Glenroy’ and “Tallawang’ and 13 rural/lifestyle blocks will be offered at auction on December 13.
The auction represents stage one in a multi-stage sale process of Cobbora Holding Company’s 43,553 hectares of cropping, grazing and lifestyle properties to be offered into the market over the next 15 months.
The properties were acquired by the NSW Government for the proposed Cobbora Coal Project, which was scrapped in 2013 after the Coalition government decided it was not viable.
CBRE’s Agribusiness team will oversee the auction campaign, supported by Central West-based estate agents Milling Stuart Pty Ltd and accounting and agribusiness advisers Chapman Eastway.
The three larger holdings range from 347 hectares to 3246 hectares.
CBRE Agribusiness Director Colin Medway said the auction would provide opportunities for a broad range of buyers in what was a very tightly held district.
“The initial announcement in relation to the CHC landholdings has already generated considerable buyer enquiry and we expect that when the auction campaign commences this will only accelerate,” Mr Medway said.
“We expect the smaller land parcels to appeal to buyers looking for weekenders or to locals looking for lifestyle acreage sites.
“The larger agricultural aggregations will be hotly contested, including by established farming families looking to expand their existing landholdings.”
Selling points for the property include their central location and access to markets, services and amenities and the Golden Highway.
The largest holding up for auction comprises a number of properties, collectively known as ‘Avondale’, a mixed farming operation with an approximate area of 3246 hectares.
Mr Medway said land of this size was in the Dunedoo region was seldom offered on the public market.
Also up for sale is Glenroy, a mixed farming operation of approximately 2633 hectares
The other larger holding up for auction is ‘Tallawang’, a property of approximately 347 hectares.
The 13 rural lifestyle properties range from 10.13 hectares to 289 hectares.
The auction of the CHC properties will be held at 11am on December 15 at Dunedoo Golf Club.
