Farms in the Southern Tablelands and South-West Slopes of NSW are enjoying strong demand with both the millionaire Macarthur-Onslow family and London hedge fund director Michael Hintze snapping up about $20 million worth of land in the past month.
According to The Australian Financial Review, reliable rains and the flexibility of mixed farming have helped peg back weak values and, despite poor demand for hobby farms, commercial operations are being keenly sought.
Farmer Lee Macarthur-Onslow, a descendent of John Macarthur, the pastoralist who introduced the Merino sheep to Australia, bought part of grazing property Little Wollogorang owned by James Bell outside Goulburn, for just over $1 million on Thursday. Mr Macarthur-Onslow has bought several other properties in the greater Goulburn area.
Meanwhile, Michael Hintze, the head of London hedge fund CQS Management had placed an offer to buy the entire aggregation of Little Wollogorang which borders a property he bought earlier this year, but was unsuccessful.
But Operating through MHFP Australian Holding Company he purchased Malabar, at Young, for about $7 million in April and this month paid about $15 million for the Boorowa rural holdings of Australian Agricultural Company director Nick Burton Taylor.
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