THE fact that it’s a receiver’s auction has been anything but a turn-off to prospective buyers of the historic Murray River property, Collendina Station at Corowa.
On the contrary, selling agent representative Phil Rourke of Landmark Harcourts, reports a level of inquiry for the iconic property far eclipsing that for other listings this season.
Collendina Station is today the 1276 hectare (3154ac) homestead core of a pastoral run which, at its peak a century ago, sprawled over some 18,000ha.
First recorded as a lease held by Robert Brown in 1841, “Collendina” came to prominence under its later ownership by the pioneering Hay family.
In 1873 the property was acquired by William Hay of nearby “Boomanoomana” (as of 1872, the elected Member for Murray in the NSW Parliament) and his sons Henry and Alfred.
Under the management of Henry Hay, “Collendina” became the home to a respected Merino flock (shearing up to 40,000 sheep) and a Shorthorn cattle herd, fats from which regularly topped Melbourne markets.
It also became a district landmark by virtue of its grand, two-storey homestead, erected by Henry Hay in 1891 and today still the best-known feature of the property.
Held in recent years by the Cranney family, “Collendina” today is a well-balanced agricultural package combining irrigated and dryland farming with livestock breeding and fattening.
It also has environmental appeal, and scope for eco-tourism development, by virtue of its natural frontage areas flanking the Murray River and Lake Mulwala.
Under instructions from McGrath Nicol as receivers/managers, Land-mark Harcourts Sydney and Albury will auction “Collendina” in Albury on November 24.
Situated 18 kilometres west of Corowa, “Collendina” is described as a level, to slightly undulating, property of predominantly fertile red-brown sandy and clay loam soils.
About 800ha of the total area is cultivated, including 182ha of irrigation watered by five centre pivots, two of which draw from the river and three from bores.
River licences totalling 876 megalitres and groundwater licences totalling 463ML come with the property.
Wheat and canola have typically been grown in a winter cropping rotation, with lucerne and corn grown under irrigation.
The entrepiece of the property is the imposing, seven-bedroom homestead, built of rendered brick and featuring extensive verandahs adorned with wrought-iron lacework.
Other buildings include a manager’s residence, eight partly-completed cottages along the river, machinery and hay sheds, a five-stand shearing shed, stables and grain silos.
The property has scope for subdivision into two portions, one incorporating the main farming section and the other the buildings and river frontage country.
Alternatively, a buyer wanting to build a more substantial Murray River aggregation would have the opportunity to buy the adjoining “Jillamatong” property of 973ha (formerly part of “Collendina”), which failed to sell at auction last year.
Murray Valley properties comprising a similar mix of country to “Collendina” have sold on the present market at around $3750/ha ($1500/ac) base.
In the case of “Collendina”, buyers will also need to factor-in the value of water licences and the unique improvements.
Contact Brian Liston, 0428 931 894.
