Rural for sale
Lot 5861 Yerrilee Road,
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Expressions of Interest
Investment Opportunity on 4 Titles in Assured AreaOffers by "Expressions of Interest" (E.O.I.) is the property known as "Yerrilee" situated on Yerrilee Rd in the locality of Kingston being in the Shire of Bridgetown/Greenbushes, 30 kms from Bridgetown. The property has 4 titles and is 295 hectares or 704 acres in size. With the plantable area being 195 hectares or 482 acres of bluegums along with 18 hectares of bluegums that are owned by the Seller.The 195 hectares (482 acres) of bluegum plantation is leased until 2022 and currently bringing in approx $50,000 per annum plus annual C.P.I. increase. Yerrilee is only very slightly undulating having mostly gravel loamy soil types with the natural timber consisting of jarrah and marri (redgum). In the past the water supply came from 3 soaks and 6 dams which could easily be rejuvenated once the plantation has been harvested. There is also a central creek system that runs through the property. The only building present is a shearing shed.
The Sellers genuinely offer "Yerrilee" to the market without at this stage a close off date for the E.O.I. and their expectation as to price is quite realistic considering the income derived from the plantation which is far better than bank interest at present. In the future because of the more reliable rainfall in this location the opportunity exists to turn the property back to productive traditional farming country or perhaps continue in the forestry industry.
Last updated: 02:06PM on May 18th 2017