Kalgan cattle property Candyup Hill Farm sells for millions in ‘high grade’ hay deal

A “high grade” hay and cattle farm at Kalgan in WA’s Great Southern has sold for an eye-watering $7.55 million — or more than $38,000 per hectare — to a well-known farming family. Candyup Hill Farm was purchased recently via private treaty by cattle producers Wayne and Mandy Tapscott, who are already running an Angus breeding operation on the 227-hectare property 19km northwest of Albany. Specialist rural property firm LAWD on Thursday confirmed the sale, which equated to $38,325 per “effective hectare”. Mr Tapscott said the family planned to develop the property by adding two sheds for machinery and hay and updating the cattle yards in a bid to increase the intensity of production. “We are keen to increase the number of Angus cows to up to 170 to 180 head and to continue to focus on breeding,” he said. “The favourable winter dominant rainfall conditions and access to water made Candyup Hill Farm highly desirable as we expand our Angus cattle operation.” Mr Tapscott said water security was a key determinant in the decision to buy the holding. “The river running through the property will provide year-round water, while it also benefits from an average annual rainfall of 924mm, removing the likelihood of needing to feed cattle,” he said. “The location and ease of access to schools and town amenities and our existing home was also an enormous attraction.” LAWD director Simon Wilkinson said Candyup Hill Farm, which was originally taken up around 1840, was a “high-grade asset” and “proven livestock platform” suited to cattle and hay production. He said it offered a productive balance of land classes and secure water resources supported by reliable rainfall. “Candyup provides a significant livestock opportunity and is both highly productive and picturesque — ideal for the Tapscotts as they expand their cattle enterprise in the region,” Mr Wilkinson said. “The range of soil types across the property are described as being duplex deep sandy gravels, duplex clay loam with some shallow gravels, while the permanent creek running through the property adds to the beautiful views … and is predominantly covered with marri and jarrah trees.” Candyup is subdivided into eight main paddocks and several smaller holding paddocks, according to a listing on real estate website Domain. “Recent investment in fencing … (will allow) the implementation of a rotational grazing system, providing the opportunity to strategically graze paddocks to manage the pasture sward,” the listing said. “(The property is) securely watered from several sources including earth dams, a permanent creek and soaks.” WA’s Great Southern region is a significant contributor to the State’s gross regional product, with its predominant agricultural industries including cropping, livestock and wool, as well as horticulture and viticulture. Farmland values have surged in recent years, as the State’s $11 billion agricultural sector relishes record commodity prices and bumper harvests. Arable land across the State’s grain-growing regions surged 36 per cent in value in 2021 to a median of $2750/ha, with grazing land up 31 per cent to a median of $14,800/ha, according to Rabobank’s annual Australian Agricultural Land Price Outlook released in September last year. FOMO — the “fear of missing out” — on prime production land is helping drive sales, with WA acquisitions accounting for 12 per cent nationally, with sales deals of more than $10 million up 3 per cent. Last year, Victoria and Queensland were the only two States to record bigger price jumps in 2021 than WA, with Victorian cropping land up 78 per cent to a median $10,200/ha and up 63 per cent in Queensland to a median of $8900/ha.