Doughboy Mountain sells to TA Field Estates
The Doughboy Mountain cattle farm in the New England district has been sold by the Salter family to TA Field Estates, the Sydney-based company headed by Michael Field for $7.65 million.
TA Field also secured the neighbouring O’Connor family’s Mirrugalee paying $2.75 million.
The Doughboy farm was redundant to the Angus breeding business started by the late Salmat marketing company co-founder, Phil Salter in 2007 when Towal Creek Station on the Macleay River on the mid-north coast was bought.
Consisting of 1,350 hectares between Armidale and Ebor, Doughboy Mountain runs pasture fed quality black Angus with carefully chosen genetics.
With lush paddocks on the Wongwibinda road, Landmark Harcourts Boulton Walcha agent Bruce Rutherford says its an opportunity to purchase the highly regarded property at a time when analysts predict much higher returns in agriculture.
The farm was bought in 2010 at $6.9 million from the pioneering Wright family.
Auctioneer Damien Cooley knocked the farms down at Friday auction.
Doughboy Mountain equated to about $5658/ha ($2290/acre) and Mirrugalee $5092/ha ($2057/acre).
TA Field has other rural holdings in the nearby Walcha district.
