Chinese buy New England farm, Kyabra Station

Chinese group Union Agriculture has paid $11 million for Kyabra Station, the 5200 hectare sheep and cattle-breeding Kentucky property north of Tamworth.

Union Agriculture previously paid $13.8 million for 4500 hectares of farmland at Galong and Binalong in southern NSW and $7 million for 2840 hectares in Greg Greg east of Wodonga.

The property was bought in 1995 by the Lytton-Hitchins family from T.A. Field Estates, when it was known as Standbye Station.

The property has 93 paddocks and an international reputation for its superfine wool.

The New England district was listed by Meares and Associates of Sydney and Landmark Harcourts Armidale,

They marketed Kyabra Station as a highly regarded superfine wool property, having produced 1PP bales and a top wool price of $22,200 for 2 bales of 14 mic wool, a rare feat.