The South Australian Landmark Harcourts team accomplished an outstanding result for their vendor with a recent triple-property sale achieving more than $50 million.
With the principal vendor being the University of Adelaide, the offering represented the university’s divestment of its rural holdings.
The three properties:
Moralana – 61,900Ha prime cattle station near Hawker, SA; prized location, ample water, significant improvements.
Munduney – 7,510Ha sheep property near Spalding, SA; magnificent and historic property with outstanding improvements.
Martindale – 2,571Ha sheep property near Mintaro, SA, well-located in the dress circle of SA’s mid north region.
Simon McIntyre, Landmark Harcourt’s Regional Manager, Real Estate South East Region, explained that Munduney was of particular note.
“Munduney was on the market for the first time since the first portion of it was purchased in 1869. This was a unique opportunity for a purchaser to secure a well-located, productive and diversified rural property which included a grand and historic double-storey homestead.”
“The transaction represents the largest rural sale in South Australia in the last five years.”
“The Landmark Harcourts team devised and implemented a marketing program over an 18-month period to successfully achieve an aggregate sales figure exceeding $50 million.”
“In what is considered to be a very challenging time in the rural market, the vendors acknowledged this as an outstanding result.”
What made the difference in this sale? According to Simon, there were several key aspects that set this successful sale apart.
“Munduney is one of the largest cropping and grazing properties offered in South Australia for some time,” he said.
“The properties were each impeccably presented and well-managed over several years, making them extremely attractive to prospective buyers.”
“Given the diversity of the properties and the rural market, we deployed a range of marketing strategies to achieve the desired result. The marketing program was consistent, sustained and extensive, exposing the offering to a wide range of prospects.”
“It’s a fantastic outcome for our vendor and for our team, who worked long and collaboratively to make it all happen.”
By Sheryl Allen