Record Ringarooma land sale
• Tiverton Estate has just sold for a record price per acre to a local syndicate.
May 31, 2023
By Taylor Clyne
A property that has held a special place in the Holmes family in Ringarooma for more than 120 years officially sold this month for more than $15,000 an acre.
Chris Holmes listed Tiverton Estate with Nutrien Harcourts featuring 474 acres of prime agricultural land on red soil, much of it fresh ground and fully irrigated.
The farm has sat with his family for several generations and was a remarkable sale in the closely held district.
Local syndicate Andrew and Claire Thompson along with brothers Michael and Richard Hayes split the purchase to suit their individual farming operations.
The buy was a once in a lifetime opportunity for these families to expand their agricultural practices on neighbouring land.
Brendon Thompson said the purchase allows young families to grow their farms.
“There has to be a next generation for the community to continue on, this is the future.”
Real Estate agent Martin O’Byrne said for Ringarooma it went at a specially high price however compared to other farms across the state in sat in the average bracket.
“Over $17,000 an acre has become a standard price for anywhere across the Northern Midlands with irrigated farmland, it’s the new normal,” he said.
“Having two buyers here definitely helps the situation and a unique land opportunity quite likely a one-off sale in the area.”
Mike Walsh’s 387-acre farm at Legerwood listed as sold on May 25 for just over $3,600 an acre to John Williams, a great price for more bush than cleared land.
The 439-acre Winnaleah dairy farm owned by Byron and Dannielle Carins is currently under offer but expected to sell for just over $11,500 an acre.
Stuart Nailor’s 231-acre dairy operation on West Maurice Road, Ringarooma is asking for offers over $10,800 per acre.
While another large farm has just been listed for sale on the Banca Road, owned by Danny Hall, spanning more than 847 acres by way of offer closing on June 9 for an unknown baseline.
Knight Frank agent Justin Wiggins said it was quite unheard of to see so many local properties all on the market at the same time and with agents.
“Typically, we see properties like these sold privately – what I like most about this is its locals buying them, staying in our community at in most cases expanding their operations.”
Data from Rural Bank’s Australian Farmland Value report for 2023 shows the per hectare price of Tasmanian farmland grew by 54.9 per cent during 2022, outperforming rural property markets across the country.