Leading Rural Property specialists, Inglis Rural Property have exchanged contracts on one of Victoria’s premier thoroughbred properties, Yallambee Stud. The successful purchaser, Mr B Wayne Hughes, principal of Spendthrift Farm is excited to announce their acquisition of the highly respected Yallambee Stud, Victoria which signifies their increased interest in Australia.

The decision by the historic Spendthrift brand to establish a stallion headquarters in the Southern Hemisphere follows continued success in the United States with their breeder friendly stallion program and an acknowledgment that the Australian thoroughbred industry is a world leader in producing high quality race horses which are on demand on a global level.

International Studs recognise the importance of the Australian thoroughbred industry and its ideal position and proximity to ‘springboard’ into Australasia and in particular the growing Asian market.

Spendthrift identified Yallambee Stud, one of Victoria’s most respected and highly regarded thoroughbred stud farms, through leading rural property marketing agency Inglis Rural Property.

Spendthrift, Lexington, Kentucky has a long and proud history in the American Thoroughbred Industry and now stands some 26 stallions. Spendthrift principal, Mr B Wayne Hughes and family purchased the property in 2004 and have developed the stud further under their stewardship along with their innovative breeder friendly program.

Mark Webster, Inglis Managing Director stated “This is an exciting day for Australian racing, the entry of a respected International Stud, such as Spendthrift, into the Australia Thoroughbred Industry signifies the importance of Australia as a global thoroughbred brand”.

“The Woodard family have established the Yallambee Stud brand as one of the premier thoroughbred breeding and yearling facilities over the last 50 years and frequently achieve above average sale prices at the Inglis Premier Yearling Sale in Victoria for themselves and on behalf of their clients – the quality of their horses is undoubtedly a reflection of the 600 acre farm, the ideal climate, quality soils and its position in the foothills of the Macedon Ranges” Inglis Rural Property Director, Jamie Inglis suggested.

Yallambee Stud, including 600 acres, is ideally located approximately 50km north of Melbourne’s CBD, 33km from Melbourne Airport in the popular Kerrie-Romsey district. The Stud is ideal country for equine operations and has been principally designed to suit thoroughbred breeding, standing stallions, rearing foals and racehorse spelling. Free draining rich volcanic soils married with a moderately cooler climate, rolling hills, good reliable rainfall and the astute layout makes this property versatile and extremely workable throughout the year. The stud has an enviable reputation for presenting high quality and athletic yearlings which is an excellent reflection on the calibre of the property.

A feature of the farm is the fantastic number of established tree lines, with numerous plantings established through the farm providing excellent shelter whilst being aesthetically stunning.

Mark Webster, Managing Director from Inglis commented that this is an exciting and positive sign for the Australian thoroughbred industry, commenting “Globally, Australia is well respected for producing world class race horses and Spendthrift appreciates the importance of our market on an international level. The entry into Australia through the acquisition of Yallambee Stud is a great reflection on the property and also so the Woodard family, with Rick and Christie Woodard appointed to manage the farm for Spendthrift going forward.

Ned Toffey, Spendthrift General Manager, added: "We have been impressed with the quality of bloodstock in Australia and how vibrant the industry is as a whole. We are excited to develop an operation in Australia that mirrors what we have built in the States. Through the stallions we stand and the programs we offer, we have always tried to provide breeders the best value possible, and we will look to replicate this at Spendthrift Australia.”

Inglis Rural Property Sales Manager Sam Triggs finished by noting, “Yallambee farm is very well suited to Spendthrift’s objectives and will be an ideal headquarters in the southern hemisphere for their shuttle stallions to stand along with their own band of broodmares; it is close to Melbourne International Airport, the Inglis selling complex (Oaklands) and easily accessible for Eastern and Southern Australian breeders”

“Three generations of the Woodard family including Betty Woodard and the late Ken Woodard, Rick and Christie Woodard and children along with Peter and Mandy Woodard have operated the very successful Yallambee Thoroughbred Stud and breeding operation for over 50 years, they as a family made the decision to sell Yallambee Stud as part of their succession plan. Rick and Christie are excited to continue to manage the property under the Spendthrift Australia banner moving forwards” Inglis Rural Property Sales Manager, Sam Triggs stated. “Spendthrift Farm have appointed Garry Cuddy to lead their Australian bloodstock operations and the Woodards will work in closely with Mr Cuddy to drive the Spendthrift Australia Stud and breeding business” Sam Triggs stated.

Sam Triggs further commented “The market for stud and rural property is buoyant, with continued interest from international groups looking to purchase good quality and well-developed farms”. “Looking at the strength of the Australian Inglis Easter yearling sale this year and comparing it with the strong interest for thoroughbred farms from International interest, the correlation is strong, which is great for stud owners looking to sell”.