Jonathan Chancellor | 17 February 2013

Barry Station at Nundle for sale

Barry Station at Nundle has been listed for sale with offers due March 28.

Its a large-scale cattle breeding farm in the rain-favoured north-east of NSW, set south-east of Tamworth.

Barry Station is an 8,522 hectare (21,058 acre) aggregation being sold by former earthmover, Ian Anderson, who bought it 21 years ago from Australian Goat Breeders Ltd, after the latter ran into difficulties.

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Australian Goat Breeders had paid $1.7 million in 1988. Anderson paid $2.35 million in 1995.

Much earlier in its hostory it was held  by Australian Agricultural Company (AACo), which used it to breed young cattle for finishing on its inland properties.

On its unsuccessful 2009 listing, Mr Anderson recalled Barry Station was a “blackberry farm” when it was bought in 1992.

It had price indications of $10 million plus on its 2009 listing after nearby New England big ticket sales in the prior period including Wombramurra Station.

No price indication has been given by its mortgagee, Provident Capital which has it listed through Peter Etheridge at Peter Etheridge Properties and Craig Young at Colliers International.

"It is the policy of the receivers and managers,  PPB Advisory not to give any price estimations or expectations on the property.

"The property is for sale by tender, with the hope of letting the market find the true value.

"Inquiry has been strong to date with requests for full particulars from more than 30 interested parties from virtually every state, being both rural and city based investors.

"Barry Station presents an excellent  opportunity to invest in a large scale grazing operation, being just over 1 hour from Tamworth, in a high rainfall area and with the potential to add value by further development," the sales team advised.

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