New England's Braeside makes $5.45m at auction

Offered by Wee Waa-based Merced Holdings, the 1282-hectare (3168 acre) freehold property located on the Eastern Fall was sold to the online bidder at a Ray White Rural auction in Sydney on October 14.

The sale price is equal to about $4290/ha ($1736/acre). Marketing agent Rob Southwell, Ray White Rural, said on analysis the basalt was estimated to have sold for about $7400/ha, the granite country for about $4500/ha with the balance realising about $2500/ha.

“We had a significant amount of interest in Braeside which resulted in about 30 inspections of the property,” Mr Southwell said.

“Probably half of that interest was from Queensland.

“Buyers were particularly attracted to the good body of feed that is on the property and the high altitude and the high rainfall generated plenty of interest.”

Nine parties registered to bid on Braeside with five parties active on the day. The losing bidder was from Warwick. 

Located on the Eastern Fall, the property is described as level to undulating, rich heavy basalt and heavy granite loam country. It has an average annual rainfall of about 1000mm and is located in what is regarded as one of Australia’s most reliable rainfall areas. Braeside is located at an elevation of more than 1200m.

The property has 76 paddocks and 94 dams. Other improvements also include a five bedroom brick home, a four stand shearing shed, sheds, and cattle yards.

Braeside has been run by Merced Holdings under a “holistic” management system for the past 18 years to create a low cost, profitable country business. It has received two fertiliser applications during the period. 

Rob Southwell and Alec Macintosh from Ray White Rural handled the sale. It was the first sale under the new management of Ray White Rural NSW.