Adams family sell Staghorn Flat farm after 117 years

The farm covers 443 hectares.

A landmark farm near Albury-Wodonga has sold in seven tranches for $10.6 million – well over the $7m price guide.

The holding is 18 kilometres south east of Wodonga.

The Rockleigh cattle property aggregation, in Staghorn Flat, covers 443 hectares.

Most of the holding has been held by the Adams family since 1902.

With no succession plan, vendors Peter and Leonie Adams sold to retire in Wodonga, 18 kilometres away.

The aggregation is a major bullock (ox) fattening property recently awarded Top 100 Producer status by Meat Standards Australia.

Within the Yackandandah Creek Valley, it is 14 km east of Yackandandah.

Ruralco closes era-ending deal after “big day”

Ruralco agent Dave Colvin, who represented the Adams family with colleague Peter Ruaro, said the “exceptional” price followed an auction attended by 250 people.

It took an hour to conclude.

“Six of the farm lots exceeded 40ha and are entitled to residential building permits for lifestyle rural living as this area has been a very attractive location for the district’s professional families,” Mr Colvin said.

“But in the auction outcome all seven lots were bought by district farmers or farm family interests” (story continues below).

The aggregation sold for $3.6 million more than expected.

The broker said the when first bid exceeded the vendor’s reserve “I knew were in for a big day”.

Three parcels – Lot 1, measuring 60.80ha, Lot 2 (62ha) and the adjoining Lot 5 (78ha), were purchased by a local for $5.04m.

That price set a benchmark of $10,000 per acre [or $25,100 per hectare] according to Mr Colvin.

“All three lots have high quality pastures, two with a creek frontage and one has a roofed set of modern cattle yards with no other building improvements,” he added.

Lot 3, a pastured parcel covering 42ha, traded to another farmer in the area, for $1,040,00.

Lot 4 – marketed as the homestead block – and with 111ha in four titles traded for $2.9m, again to a local farming family.

That holding included a three-bedroom brick veneer family home.

Another pasture block, Lot 6, spreading 45ha, traded to a farmer for $925,000.

In the final deal, Lot 7 – a half timbered, half pastured 42ha holding – was acquired by a local business-farmer for $700,000.

The most valuable holding in the portfolio, Lot 4, includes this homestead. On 111 hectares, it sold for $2.9 million.
A tree-lined driveway at Rockleigh.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of