Water and land certainly attract the big dollars, with a prominent Riverina sheep farming family handing over $16 million for a pastoral holding near Deniliquin.
It is believed to be a record for property in the Deniliquin area.
Ian and Camilla Shippen snapped up the 9921ha Rhyola and Inverness aggregation, situated between Deniliquin and Moulemein, at a July 14 auction.
Elders Deniliquin Real Estate manager Matt Horne said the auction delivered an “appropriate outcome”.
He said it showed demand for Riverina pastoral country was still very strong, despite livestock prices decreasing slightly from a record high.
“We conducted a large number of inspections and received plenty of inquiry and it was a fitting outcome,” Mr Horne said.
“The Shippen family will add the pastoral holding to their expansive Riverina aggregation that include the nearby Bundyalumblah and Blue Gate holdings.
“I believe demand for pastoral holdings in the Riverina will remain strong due to good seasonal conditions, favourable lending rates and importantly the low input nature of grazing holdings.”
The Shippens are a renowned sheep farming family, whose holdings have expanded significantly in recent years.
In 2021 they purchased a part of the 3353ha Woorndoo aggregation near Lake Bolac, which was sold for $70 million.
In 2018 they purchased the historic 5900ha western Victorian grazing property Mt Fyans for $37 million, from Western Australian-based, Chinese-backed company Harmony Agriculture and Food Company.