THE quality 518 hectare (1280 acre) Namoi Valley property Elken Downs has sold at a Ray White Rural auction for $3.6 million.
The sale price is equal to about $6950/ha ($2813/acre), including 430ha of wheat and barley crops.
Bidding kicked off at $3m with three of the four registered bidders active at the auction held in Gunnedah. The buyer was an undisclosed local landholder.
Offered by Maree Bird, the property located 16km south of Boggabri features fertile, predominantly heavy black self mulching basalt types with areas of red and mixed profiles to the western boundary.
Water is supplied by two dams and a bore, which is equipped with an electric submersible pump. Elken Downs has an average annual rainfall of 625mm (or 25 inches).
Improvements include a four bedroom home, two machinery sheds, 505 tonnes of grain storage, and an older set of timber cattle yards.
The marketing of Elken Downs was handled by Brian McAneney and Frank Power, Ray White Rural, Dubbo.
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