ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Rural Sale

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A new four lot subdivision of the Shambara farm property, located midway between Benalla and Wangaratta, has come onto the market.
The four lots all with a frontage to the Old Greta Road are respectively – Lot 1 of 68.7 ha, or 170 acres, Lot 2 of 72.8 ha or 180 acres, Lot 3 of 44.5 ha or 110 acres and Lot 4 of 58.6 ha or 145 acres.
The four lots are for private sale through Elders Real Estate’s north east district agent Michael Everard.
The property on the old Greta Road at Lurg is part of the larger Shambara farm property and has been held by the vendor family for over twenty-five years.
Each of the four blocks has some internal division of post and wire fencing.
Most of the lots include paddock or catchment dams, most having been recently cleaned out, while the local average annual rainfall is 700mm with access likely to be available to substantial as yet untested groundwater potential.
Each lot holds a long single frontage to the old Greta Road with good access from the Hume Freeway at the Winton interchange with a bitumen road most of the way to these lots.
Selling agent Michael Everard says that the local district is a prominent rural living area with properties that adjoin these four lots being largely smaller acreage residential holdings with typical sizes of 40 hectares (or say 100 acres).
“There are multiple choices for an attractive home site on each landform with power available to within about 200 metres of the existing road boundary.
“This subdivision which has been created from a long held family farm presents an exceptional opportunity to secure attractive and productive land that is ideally suited to create a preferred rural living retreat,” Mr Everard says.
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Shambara farm subdivided plots come onto market

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Wollogorang and Wentworth stations, the renowned 705,000 hectare cattle station on the Northern Territory/Queensland border has been sold. 
The McMillan family from Queensland bought the cattle station for $53 million from Chinese Billionaire Xingfa Ma. 
Bordering the Gulf of Carpentaria, the property comprises 576,000 hectare Wollogorang Station and 129,000 hectare Wentworth Station. 
The property can be reached by air from Cloncurry or Mt Isa, as well as accessed via the road network.
<img src="https://www.urban.com.au/images/2020/5/4/Wollogorang%20and%20Wentworth%20Stations%202.jpeg" alt="">
The properties’ natural attributes include reliable rainfall, with additional water sources including large creeks and seasonal lagoons.
There has been upgrades to the property's infrastructure including the installation of Lorentz solar bore pumps.
The main homestead comes with five bedrooms with contemporary features such as a cinema room.
<img src="https://www.urban.com.au/images/2020/5/4/Wollogorang%20and%20Wentworth%20Stations%201.jpeg" alt="">
Mr Ma is one of the richest businessmen in China. He paid around $47 million in 2017 for the cattle station.  
The McMillan Pastoral Company is run by the large McMillan clan, which manages cattle across several properties in North West Queensland.
The property was sold by Bruce Douglas from Ray White Rural Queensland. 
 
https://www.propertyobserver.com.au/finding/location/rural/103879-wollogorang-and-wentworth-nt-cattle-stations-for-sale.html
https://www.abc.net.au/news/rural/2020-05-01/queensland-mcmillan-family-buys-wollogorang-and-wentworth-$53m/12102478
 
A Queensland family has bought a large cattle station on the Northern Territory/Queensland border from a Chinese billionaire for $53 million.
On Tuesday, the McMillan Pastoral Company settled a deal to buy Wollogorang and Wentworth Stations — which are run as one property straddling the border on the Gulf of Carpentaria — according to documents from the NT Land Titles Office.
The 700,000 hectare aggregation, which includes around 80 kilometres of coastline, was sold walk-in-walk out with around 27,000 head of cattle.
The properties were bought from one of the richest businessmen in China, Xingfa Ma, who owns a ball bearing manufacturing company, alongside beef and wine properties in Western Australia.
Mr Ma's company TBG Agri Holdings had owned Wollogorang and Wentworth since 2015, <a class="_2HoMm _31PBK _34Pu4" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/2015-07-16/chinese-billionaire-xingfa-ma-buys-nt-wollogorang-station/6623806" data-component="ContentLink">for which he paid around $47 million.</a>
The McMillan Pastoral Company is run by the large McMillan clan, which manages cattle across several properties in the Cloncurry region of North West Queensland.
Calvert Hills Station, which borders Wollogorang on its eastern boundary, was bought by the <a class="_2HoMm _31PBK _34Pu4" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/rural-news/2013-07-08/calvert-hills-sale/4808906" data-component="ContentLink">McMillans in 2013 for $15 million.</a>
<h2 class="_1LI2A _3_H8z SelAj _1t9H3 ZPXNE lxkD- mSYxO age8P" data-component="Heading">Properties suited to domestic and live export trade</h2>
Herron Todd White land valuer, Frank Peacocke, said Wollogorang and Wentworth would fit in well with the McMillans' other properties.
"They will likely use Wollogorang as a big breeder joint and they will be turning off their younger cattle down to Cloncurry to grow them out and fatten them up," he said.
"The cattle could go into the domestic market or onto the boats through Townsville.
"It's actually closer to Darwin, so they could [send cattle] that way also. They've got a few options."
The quick turnaround in ownership for such a large property is quite rare for the Northern Territory pastoral industry.
Mr Peacocke said the growth in pastoral value since 2015 was not reflected in the sale price.
"It was only four years, but in those four years there has been very strong growth in the pastoral asset space, [of] easily 30 per cent growth over that period," he said.
"[The previous owner] spent over $7 million on Wollogorang and Wentworth over that period, so add that onto the sale price [of $47 million], and if you did expect 30 per cent growth, this sale certainly doesn't show it.
"I think the McMillans have bought reasonably well."
<h2 class="_1LI2A _3_H8z SelAj _1t9H3 ZPXNE lxkD- mSYxO age8P" data-component="Heading">Chinese billionaire 'refocusing' investments</h2>
Speaking to ABC Rural in August last year after the station was put on the market, managing director of TBG Agri Holdings, Andrew Blythe, said the station had been "a great property" for the company, but it was looking to "refocus" its investments.
"We're focussing back on our investments in Western Australia," he said.
"We've got Emu Downs north of Perth and Balfour in the Pilbara.
"So we're focussing on those operations and developing a boxed-meat product for China for our shareholders."
Mr Blythe said the company had invested around $7 million into the property, including a major fencing project, upgrades to the homestead area and watering points.
"And we spent a lot of money on genetics for the property," he said.
"A lot of the herd was a mix when we bought it, but it's now pretty much 100 per cent Brahman bloodline."
The McMillan family declined to comment on the sale.
 
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j.ballantyne1990-6AQqhLzZaK

McMillan family buys Wollogorang and Wentworth Stations 

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Demand for agricultural property is up, Ray White found with Brymay at Lot 8 Tumut Plains Road, Tumut, NSW the latest example.
The holding attracted 11 registered bidders and sold for $185,000 over reserve at online auction.
It was a competitive auction seeing 34 bids before finally selling for $785,000.
"I've been in the real estate game for 21 years and I can honestly say the last week has been the second busiest in terms of sales that I've ever had," said Ray White Tumut Principal Ray Piper.
"Agricultural land is becoming more and more popular, and even though this property wasn't presented as the best, buyers could see beyond the mess because of the potential and the fact it's in a high rainfall area.
"Despite the restrictions and limited access to the property, we still attracted 21 people to private inspections, and over half of them registered to bid.
"The auctioneer Alex Pattaro was excellent because he took the time to sit down and take us through how the online auction platform worked.
"We logged on as the whole team one evening to run a mock auction so we really understood the process and could ask/answer any questions ahead of the auction.
"It's a great tool for future business and our office actually sold two from two today using the online auction platform."
Ray White NSW Chief Auctioneer Alex Pattaro (above) said this was an excellent result and there was a sense of growing positivity around online auctions.
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Brymay, Tumut agricultural holding sold 30% over reserve at online auction

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An avocado orchard on NSW's mid-North coast has been listed.
The property is located at lot 4 Perrett Lane in Fishermans Reach.
It comprises 246500 square metres.
It fronts onto the coastal entrance of the Macleay River.
It has roughly 5,900 productive avocado trees.
It also features a 276 million litre irrigation licence on title, with fully integrated irrigation and fertigation systems.
Macksville is 29 kilometres from the property, while Port Macquarie and Coffs Harbour are both an hour away by by car.
David Nolan, from Webster Nolan Real Estate, listed the property.
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jonathanchancellor-7SQnKwU6yx

Fishermans Reach avocado orchard listed as smashing investment 

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A historic Monaro grazing and farming property, held by the same family for five generations, has sold for $4,630,000.
Known as Curry Flat, it is located on Springfield Road, south of Nimmitabel. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/4/CURRY%20FLAT%204.jpg" alt="">
The property comprises of roughly 3,118 acres. 
It features a five-bedroom homestead, and an original two-bedroom cottage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/4/CURRY%20FLAT%202.jpg" alt="">
Securely fenced into 20 paddocks and a central laneway, it also includes a five-stand shearing shed and yards, cattle yards, machinery storage, a hay shed, two creeks, bore &amp; livestock troughs, ten dams, and an aircraft hanger. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/4/CURRY%20FLAT%203.jpg" alt="">
The home was owned by the Jardine family for five generations, before being sold in 207 for $830,272 - One fifth of its recent sale price. 
David Nolan, from Webster Nolan Real Estate, listed the property.
 
 
 
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Curry Flat, historic Monaro NSW grazing property sells for $4.63 million 

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Woolgars Nest, a Mary Valley grazing property has sold under the auctioneer's gavel for $3.4 million.
The brand new home built in 2018 sits on a 162 hectare plot.
It is comprised of three bedrooms, two bathrooms, a two car garage and is 20 minutes from Gympie.
Jez McNamara and Jason Mattiazzi of Ray White Rural Queensland successfully marketed the listing.
<img src="https://www.urban.com.au/images/2019/9/20/Woolgars%201.JPG" alt="">
Featuring multiple sheds, the property is sown to improved pastures which include Rhodes, Chicory, Lucerne, Plantain, Medic, Burgundy Bean, Millet, Lablab, Red and White Clover, Vetch and Legumes.
The holding is host to fertile scrub soils with sandy loam creek flats, 77 cell grazing paddock all with access to water troughs and laneways to yards, established cattle yards in excellent condition with a loading ramp.
It also has a 7 hectare irrigation licence from Pie Creek and is fully fenced with barb and electric fencing all in excellent condition.
The agents said it was a great sale given the current market and tight environmental conditions.
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Mary Valley's Woolgar Nest sold at auction for $3.4 million

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A renovated three bedroom home on Phillip Island with 68 acre parcel of land recently sold for $1,835,000.
The rural property was listed by Mike Foenander from OBrien Real Estate - Judith Wright. 
The renovated house at <a href="https://www.realestate.com.au/sold/property-house-vic-ventnor-130793614" target="_blank">511 Ventnor Road, Ventnor </a>comprises three bedrooms, two living areas and sun drenched decks with rural and native bush views. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/20/ventnor%202.jpg" alt="">
Other features of the property include five main paddocks, town water, three dams, historical kiln, and approved plans for a second dwelling.
It has been leased to two businesses with a renowned local following, Island Primary Produce – a paddock to plate butcher shop and The Store – a café offering light meals, coffee and regional produce.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/20/ventnor%203.jpg" alt="">
Two long-term leases generate an income of $600,000 per annum. 
The property last sold in 1992 for $325,000. 
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Phillip Island property with farm, butcher shop and cafe sells for $1,835,000

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Alloway Bank, the historic NSW Bathurst district estate of the colonial ­customs collector, Captain John Piper, has been sold.
After spending just short of three years on the market, the property fetched $2.15 million, within its steadfast guide of $1,995,000 to $2.4 million.
It was sold by Century 21 Bathurst agent Tom ­Clyburn, who took on the listing earlier this year.
The buyers are a family from Bondi Junction whose forebears, George (pictured) and William Suttor, were the second owners of the Eglinton residence.
The house, rebuilt in the 1870s with Flemish bond brickwork, sits on 11 hectares.
Its European settlement dates back to an 1827 land grant from Governor Thomas Brisbane to Piper who relocated to the farm after losing the Point Piper harbourfront, Henrietta Villa.
After the 1838 drought, the wool slump and 1840s depression, Piper was also forced to sell Alloway Bank to the pastoral Suttor family in 1845. It last sold in 1995 for $580,000.
This article was first published in the Sunday Telegraph. 
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jchancellor-FAypfDUnLy

Alloway Bank, Bathurst sells after nearly three years on the market

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Ceres Agricultural Company has gone into administration.
The administrators are Philip Campbell-Wilson and Said Jahani from Grant Thornton.
In a statement published by the Beef Central website, the administrators said Ceres Agricultural Company operated one of Australia’s largest integrated cattle-finishing and cropping enterprises.
<div id="mobile_ad_3" class="mobile-ad">It said the company operated from leased properties at Oberon and Warialda.</div>
“While it is too early to confirm the factors which contributed to the need for the company to appoint administrators, it is understood that the company had been experiencing working capital/cash flow issues in recent months,” Mr Campbell-Wilson said.
“The drought, which has no doubt had an impact on many farmers, has had an effect on the company.”
The cost of expensive grain has made it very difficult for farmers facing a drought that has been going harder and longer and wider than anyone thought.
Campbell-Wilson said animal welfare was a key priority during the administration process.
“We are finalising arrangements in regards to the remaining 10,000 head of cattle on site which will enable the orderly finishing process for those cattle.”
Campbell-Wilson said the company being in administration would result in further redundancies, following a number of employees having been made redundant in recent months as the business has scaled back. 
“We are mindful that the closure of the company will have an impact not only on employees but on the local communities and businesses that were supported by the company.
“Our aim is to make the administration process as smooth as possible for employees and stakeholders, and to provide support and certainty around next steps."
The farmland is owned by separate corporate entities, with the administrators confirming their appointment did not extend to any related party entities.
The first meeting of creditors will be held on 9 April.
According to the Australian Securities and Investment Commission, Ceres Agricultural Company’s directors are Vaucluse resident Garrick Hawkins and Singapore residents John Sheehy and Michael Sweeney.
<div id="mobile_ad_2" class="mobile-ad">Ceres is fully owned by Pegala Pty Ltd, who registered address is home to the Hawkins family’s showcase Mayfield Gardens.</div>
Sources have said Mr Hawkins intended to retain involvement with the Ceres’ Oberon properties, Mayfield and Ballyroe.
Ceres recently sold the 9000-hectare Brudle Park cropping aggregation (top) north of Moree for around $50 million.
Macquarie-backed Viridis Ag secured the cropping aggregation on the Newell Highway north of Moree.
The sale of the Brudle Park aggregation, which comprises the four properties of Brudle Park, Oaklands, Braden and Yileena, was the first major divestment by Ceres Ag since the business was put up for sale two years ago with a $200 million price tag.
Ceres Agriculture was established in 2012 when cropping and beef enterprise Pegela Pastoral Company received the backing of Singapore-based fund manager Duxton Asset Management in a deal put together by Mark Mason and Garrick Hawkins.
<div id="mobile_ad_1" class="mobile-ad">Ceres Agricultural Co’s other asset in northern New South Wales is Gunyerwarildi, which includes a feedlot and large-scale cropping operation at Warialda, east of Moree.</div>
“Brudle Park sold walk-in walk-out, and it settles next week. Contracts have been exchanged unconditionally,” CBRE agent Richard Royle said last week.
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Drought tips Ceres Agriculture into administration

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A South Korean corporation has secured, Warragundi Aggregation, some 5,800 hectares of rural land on the banks of the Cudgegong River in the Mudgee region of New South Wales. 
The mixed enterprise property, which consists of cattle and sheep, sold between $20 million and $25 million.
It was bought on a walk in walk out basis. The South Korean buyers intend to operate the farm in its current structure and will retain the existing staff.
The Foreign Investment Review Board approved the transaction through CBRE Agribusiness agent Richard Royle, who negotiated the sale with Logical Livestock's Simon McKittrick.
“I believe the buyers are looking forward to getting to know the region further and working with local businesses,: Royle said on the sale.
"They were attracted to the region for its diversity in agriculture, wine and growing tourism.
'Buying a farm, especially in a foreign country, has its complexities but by purchasing the aggregation as a going concern will ensure they can operate commercially while applying their own strategies as they progress.”
The property sits near the township of Gulgong, around 25 minutes to Mudgee. 
The aggregation offers water access and fodder crops that have maintained a core breeding herd during dry periods. The aggregation includes a range of pastures, including chicory, cocksfoot, fescue, phalaris, ryegrass and clover mix.
Royle says the sale price reflects the strong rural market in NSW despite the dry conditions.
"The vendor and purchaser wish for confidentiality, but I can say that the sale price was in-line with agent and vendor price guide during the marketing campaign which was circa $20-$25million. 
The vendors John and Sandra Harding will now concentrate on their horse breeding and Mudgee Machinery business.” 
 
 
 
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