Two multimillion-dollar Riverina offerings passed in at auction
Jonathan ChancellorOctober 23, 2011
Twynam Agriculture's Riverina holdings, Gundaline and Cobran, were passed in at recent auction without a bid.
The 14,928-hectare Gundaline at Carathool and the 17,201-hectare Cobran at Hay were expected to fetch more than $50 million.
Both properties are now for private sale at undisclosed price through Ray White Rural Sydney agent Bruce Gunning.
"Some interested corporate parties were unable to participate," Gunning told The Weekly Times.
The interested parties included both international and Australian companies, along with private individuals.
Both properties, part of the Kahlbetzer family’s rural portfolio, are expected to be sold in the next month.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
