Iconic farm hits the market for first time in 90 years

Ringarooma’s huge Mineral Banks farm is for sale for the first time in decades. Picture: Supplied

A prestigious property in North-East Tasmania has come onto the market for the first time in over 90 years.

Known as Mineral Banks, this premier grazing, cropping, and native forest opportunity is ideally located in the tightly held Ringarooma district, 58km from Launceston.

Held by the same family — the Fosters — for generations, Mineral Banks spans 1236ha. This is a rare opportunity to acquire a large-scale, iconic Tassie property.

The land is characterised by its excellent climatic conditions and highly fertile soils, making it an outstanding agricultural enterprise.

The property includes 781ha developed for grazing, 55ha for intensive cropping, and 400ha of native forest.

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Colliers national director, transaction services agribusiness, Duncan McCulloch, said Mineral Banks is a truly unique offering in the Tasmanian market.

“The combination of rich red loam and alluvial soils, improved pastures, and reliable water supply from the Upper Ringarooma scheme make it an exceptional investment opportunity,” he said.

Mineral Banks.

Mineral Banks.

Connor Dixon, agribusiness executive, said the property’s extensive infrastructure, including multiple residential dwellings, machinery sheds, and upgraded fencing, supports beef cattle and fat lamb production.

“Additionally, the significant volumes of hardwood timber in the native forest present diversified forestry opportunities and potential for biodiversity stewardship and carbon farming,” he said.

Mineral Banks boasts extensive river frontage with the Dorset River and New River traversing the property, ensuring a highly reliable and secure water supply.

The property benefits from 420 megalitres of Tasmanian Irrigation water from the Upper Ringarooma scheme, enhancing its agricultural potential.

The property’s structural improvements include multiple residential dwellings, machinery sheds, hay sheds, three sets of cattle yards, and a three-stand shearing shed.

These facilities support the property’s current operations and offer the potential for further development.

Mineral Banks.

Mineral Banks.

Historically operating under a traditional management structure, Mineral Banks offers an incoming purchaser the ability to capitalise on higher value farming operations, including dairying, further intensive cropping, and irrigation infrastructure development for fattening operations.

Mineral Banks at No.271 New River Rd, Ringarooma, Tasmania, is being offered to market via an international expression of interest campaign, managed by Colliers’ agents Duncan McCulloch, Connor Dixon, and Rawdon Briggs.

The agents declined to comment on how much the farm could be sold for.