Kahlbetzer family’s Twynam Group sells Collymongle in northern NSW
The Kahlbetzer family’s Twynam Group has sold the 35,600-hectare Collymongle rural property at Collarenebri in northern NSW.
Its reported sale price of the Morree Plains farm is more than $40 million.
The neighbouring Zell family of Taroo farm purchased the property that produces cotton, oilseeds and wheat and breeds Angus cattle.
It sits on the Gwydir River and Barwon River.
About 14,400 hectares of Collymongle is arable, of which 7500 hectares is developed for irrigation.
Some very old Aboriginal carved trees were removed to museums from the property in the late 1940s while it was under the ownership of the Tompkins family.
The sale last week was through Phil Rourke and Paul Thomas of Landmark Harcourts, and its price was undisclosed.
Twynam acquired Collymongle in 1999 when it assumed full ownership of Colly Cotton, having previously held a 25% stake.
It subsequently sold the ginning and marketing interests of Colly Cotton but retained the property, although the Land's Peter Austin reported the bulk of the water entitlements were offloaded in 2009 as part of Twynam’s $300 million sale of surface water rights to the federal government.
The sale of Collymongle leaves Twynam with just its Jemalong and The Mount properties at Forbes, Merrowie at Hillston and Gundaline and Cobran in the Riverina.
The Collymongle Collarenebri Cup meeting has been one of the jewels in bush racing.
