THIS week’s property review includes two recently completed sales outlined below, and separate items on recently listed properties of note.

• Northern NSW’s Kulki makes $20m
• Neighbours secure Augathella cattle country for $19.9m

Cultivation on a Kulki, a mixed grazing and cropping enterprise in the north-west slopes region of New South Wales.

Northern NSW’s Kulki makes $20m

A corporate investor has paid around $20 million ($9319/ha bare) for Kulki, a mixed grazing and cropping enterprise in the north-west slopes region of New South Wales.

The 2146ha property (pictured above) located near Graman, 39km north-west of Inverell and 60km north-east of Warialda, was sold by David and Annabelle Horn to finalise an estate, after being held by the Capel family for more than 70 years.

LAWD agents Simon Cudmore and George Barton were unable to disclose the buyer, but said Kulki attracted mostly local interest, with the new buyer looking to convert more of the country to cropping.

When Kulki was listed for sale in October last year, 960ha (45 percent) of the mostly heavy black self-mulching to chocolate brown soils was developed to dryland cropping (585ha of barley, 330ha of oats and 45ha of lucerne). A further 1020ha is considered arable.

The 1185ha balance was being used for beef and lamb production. Understocked at the time, Kulki was running 30 cows and calves, 113 steers and 950 ewes.

Benefiting from 750mm of annual average rainfall, the property has a number of reliable and secure water sources including 11 dams, three bores and the spring-fed Pine Nob Gully and Wyndhams Creeks.

Over the past two years, 10-12km of new fencing has been constructed.

Infrastructure includes a circa 1900 four-bedroom home, numerous sheds, two cattle yards, a ten-stand shearing shed, sheep yards, shearing quarters and five grain silos with 340-tonnes of storage.

Neighbours secure Augathella cattle country for $19.9m

Iain and Kathy Scholes have paid $19.9 million ($2376/ha) for renowned neighbouring cattle country in south-west Queensland.

The 8373ha Cargara, 64km north of Augathella, was sold by Wilma Meek after 60 years of ownership.

Nutrien Harcourts agent Darryl Langton said Cargara was a strong sale.

“Geographically, the good quality country attracted a range of producers from locals to Central Queensland, particularly around the Clermont, Springsure and Alpha areas, seeking country below the tick line. This resulted in 17 inspections and nine registered bidders at auction.”

During the marketing campaign, Mr Langton described Cargara as one of the best holdings in an excellent district.

“The property has an estimated carrying capacity of 1800 backgrounders or 1000 breeders, and boasts an outstanding reputation for turning off heavy fat cattle with a good temperament, year after year.”

The gently undulating grazing country consists of brigalow, gidgee, wilga, ironwood, mulga, box and sandalwood growing abundant buffel grass.

The wide range of soils include brigalow and gidgee, pebbly red and brown scrubs and red loams.

Cargara is watered by three bores.

Infrastructure includes a five-bedroom home, a two-bedroom staff quarters, three cottages, steel cattle yards and numerous sheds.

Cattle on Cargara, near Augathella