SA property sale demonstrates market's 'unprecedented' demand

Field of Mars sells for $2 million

Property
Field of Mars, Hynam, SA, vendors Charlie and Angela Goode, selling agent Cameron Grundy and buyer Kym Hebberman.

Field of Mars, Hynam, SA, vendors Charlie and Angela Goode, selling agent Cameron Grundy and buyer Kym Hebberman.

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Well-known Hynam, SA, property Field of Mars was sold at auction last week in front of a crowd of 100 people.

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Well-known Hynam, SA, property Field of Mars was sold at auction last week in front of a crowd of 100 people.

After being on the market for seven weeks through SAL Real Estate, seven bidders registered prior to the sale.

Bidding began at $1.6 million and reached $1.975m where the bid was held.

The highest bidder increased their bid to $2m and the property was declared on the market.

The property was sold under the hammer to neighbours Kym and Bev Hebberman with Mathew MacDonald from SAL assisting the Hebbermans.

The property comprises 113.3 hectares of Red Gum country.

A portion of the land is dedicated to centre pivot irrigation where the water is supplied from the underground aquifer which is high quality and plentiful.

The water licence which enables the extraction of the water was 84 megalitres.

The property is well-fenced and watered while the dry land pastures are productive.

READ MORE: Are virtual property valuations the way of the future?

A key feature of the offering was the circa 1908 solid stone homestead which is well appointed and set in established surrounds.

Vendors Charlie and Angela Goode have run a highly successful enterprise based on lucerne production and beef backgrounding.

Cameron Grundy, SAL, said the sale was more evidence of strengthening confidence in rural land in the south-east of SA after the recent stand out result of the Gingers sale at Bool Lagoon, SA, held in July.

"The current strong demand for rural property in the south-east is unprecedented," Mr Grundy said.

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