Family story to continue after Eyre Peninsula cropping sale

Family story to continue after Eyre Peninsula cropping sale

A family legacy already dating back to the early-1900s will live on at an expansive Eyre Peninsula cropping farm.

The 988ha Telusa in Cleve Hills is currently under contract to change hands, amid rising demand for cropping and livestock properties in South Australia.

Telusa has been in the same family since the early-1900s, from Martin Hannemann’s acquisition of the site from the government through to the ownership of his great-grandson Andrew Story and his wife Rebecca.

That legacy will continue, and back in the Hannemann name, following its purchase by two neighbouring parts of the Hannemann family that are expanding their existing operations.

CBRE Agribusiness’ Phil Schell and Angus Bills have managed several recent sales campaigns on the Eyre Peninsula, including Telusa, which collectively attracted more than 50 inquiries and 15 property inspections.

“The Eyre Peninsula is well-known as a cropping region, and Telusa attracted significant interest,” Mr Schell said.

“That was led by local farming families seeking expansion and growth opportunities. These groups continue to dominate the buyer market, which is driving pricing premiums.

“Telusa was one of the larger cropping opportunities to have come to market in this region on the Eyre Peninsula in recent years, but we are seeing strong interest in cropping and livestock properties of all sizes.”

Telusa is 164km north-east of Port Lincoln, with the Story family reporting improved yields year-on-year following the 2013 removal of stock.

CBRE is also managing the sale campaign for Hillridge by Private Treaty, with offers around $1.2 million or $300/acre anticipated.

The property is 28km east of Kimba, with 1,622ha across two titles suited to mixed farming.

While the Eyre Peninsula climate is perfectly suited to productive broadacre cropping platforms, Mr Bills noted the interest in Teulsa reflected a state-wide trend.

“Buyer confidence in South Australia continues to rise on the back of above-average production, and high grain and meat prices,” Mr Bills added.

“This is not a market bubble; demand continues to outstrip supply and prices have grown by more than 20% per annum since 2019 in some regions.

“Corporate interest is also strengthening, seeking scale in cropping in all districts, and given its reliable rainfall and quality pastures, south-east grazing properties are also highly sought after.”

Source: CBRE Group