Tubbo Station collects $40m from neighbour

Tubbo Station in the Riverina has sold for more than $40 million.

The 28,000 hectare mixed use site near Darlington Point was offered by businessman Rodney Price.

A nearby farmer, Les Douglas, is the buyer.

The purchaser told the AFR he has been trying to buy the property since he was 14.

Tubbo Station will be run for family businesses.

Mr Douglas is presently trying to sell a Keabury farm for $15m.

Other assets Mr Price recently sold include:

* The 2600ha South Tahara estate near Wagga Wagga, which collected $20m;
* The 6000ha North Tahara holding also near Wagga Wagga (which sold for $10m to a company associated with Melbourne stockbroker Malcolm Shippen), and
* A 34,000ha station at Hay (c$9 million to the former chairman of insurance group Edward Lumley, Anthony Crichton-Brown).

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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