THIS week’s property review includes this wrap-up of recently completed sales, and a separate article on interesting recent listings across the country.
- Local family pays $30m for Tasmania’s Mineral Banks
- New England’s Naloo makes around $13.8m
- Tamworth’s historic Dungowan Station makes about $8m
- CQ producers relocate to New England’s Argyle
- Dorper breeder expands in NSW’s far north-west
A local family farming group is believed to have paid around $30 million for Mineral Banks in Tasmania’s north-east.
Local family pays $30m for Tasmania’s Mineral Banks
A local family farming group is believed to have paid around $30 million for Mineral Banks in Tasmania’s north-east.
The 1236ha grazing, cropping and native forest property, 25km from Scottsdale and 58km from Launceston, was offered for sale by the Foster family after more than 90 years of ownership.
Agents from Colliers Agribusiness were unable to disclose the buyer or the price paid but during the marketing campaign, Mineral Banks was anticipated to make more than $30m.
Around 781ha of the property had been developed for grazing, with the rich red loam and alluvial soils growing improved pastures and supporting beef cattle and fat lamb production.
Around 55ha had been set aside for intensive cropping and there are 400ha of native forest.
Mineral Banks offers the incoming purchaser the ability to capitalise on higher value farming operations including dairying, further intensive cropping and development of irrigation infrastructure for fattening operations.
Significant volumes of hardwood timber in the native forest offer diversified forestry opportunities and potential for biodiversity stewardship and carbon farming.
Mineral Banks boasts extensive river frontage with the Dorset River and New River traversing the property supported by 1200mm of average annual rainfall. It also benefits from 420ML of irrigation water from the Upper Ringarooma scheme.
Infrastructure includes multiple homes, numerous sheds, three cattle yards and a three-stand shearing shed, as well as recently upgraded fencing and internal laneways.
The sale was handled by Colliers Agribusiness agents Duncan McCulloch, Connor Dixon and Rawdon Briggs.
New England’s Naloo makes about $13.8m
New England breeding and finishing country has sold to a local producer for expansion and to compliment his existing enterprise.
Owned by Rockvale Estates since 2013, the 1319ha Naloo is located 34km from Guyra and 38km from Armidale, in the high rainfall region of northern New South Wales.
LAWD agent Michael Corcoran was unable to disclose the buyer or the price paid, however during the marketing campaign Naloo was listed for $13.8 million ($10,462/ha) or $985/DSE (bare).
Offering a 14,020DSE carrying capacity, the country on Naloo also rises from creek flats to undulating and open land lightly timbered with yellow box, gum and stringy bark.
Around 95 percent of the New England trap and granite soils are arable and grow improved and native pastures.
Naloo sits at the headwaters of the Chandler River and is watered by two bores and 17 dams.
Infrastructure includes steel cattle yards, sheep yards and a three-stand shearing shed. There are 9km of new or upgraded internal fences and more than 6km of new exclusion fencing.
Meantime, Rockvale’s other New England property, the nearby Alora-Mia spanning 1686ha is still listed at $14.8m.
Tamworth’s historic Dungowan Station makes around $8m
A family operator from Cootamundra has paid around $8 million to relocate to the historic Dungowan Station in northern New South Wales.
Settled in 1834, the 1612ha holding used for breeding and backgrounding cattle, is located 33km east of Tamworth.
It is considered among the region’s most prestigious and unique properties, sitting alongside the larger Bective and Goonoo Goonoo Stations.
The blue ribbon, mixed farming and grazing property also generates a guaranteed income from a brewery, a 150-seat function centre and three-bedroom cottage which are leased to hospitality operator, the CH Group.
During their ownership, Campbell and Naree McIntosh (who are builders and developers by trade) invested heavily into improving and upgrading Dungowan, including quality fencing and first-class water infrastructure.
Water is secured by 2km of double frontage to the permanent and picturesque Dungowan Creek, as well as numerous dams and bores.
Two water licences were offered with the sale – 82ML of unregulated river and 480ML of continuing aquifer running three centre pivots, with planning and infrastructure for a fourth pivot to increase production.
The fertile alluvial and highly productive river flats grow hay, lucerne and summer and winter cereal crops for finishing livestock.
The balance is open valley country set in undulating grazing hills rising to mountain ranges and capable of running up to 350 cows and calves.
Infrastructure includes a four-bedroom (circa 1903) home, two steel cattle yards and numerous sheds.
Davidson Cameron & Co agent Simon Burke and Burke & Smyth Commercial agent Gavin Knee handled the sale.
CQ producers relocate to New England’s Argyle
High-performance grazing country in the renowned New England region of northern New South Wales has sold to Rolleston producers Mark and Kay Wells who are relocating.
The picturesque and productive 370ha Argyle, located 23km east of Guyra and 35km north of Armidale, was sold to well-known horseman Bronson Macklinshaw and veterinarian Coco Wills-Allen after four years of ownership.
Ray White Rural agent Andrew Starr was unable to disclose the price paid, however the nearby 541ha Sugarloaf changed hands in February for $7.4m or $13,660/ha and the 828ha Mawarra sold under the hammer late last year for $15.3m or $18,478/ha.
When Argyle was listed for sale in May, Mr Starr described it as a strong backgrounding block primed for maximum beef production.
At the time, the mostly basalt soils were growing a bulk of feed. Fenced into 21 main paddocks, Argyle had undergone fencing upgrades making it ideal for rotational grazing.
Situated in an 860mm average annual rainfall region, water is sourced from the Wollomombi River, dams, a bore and a creek.
Infrastructure includes a renovated four-bedroom home overlooking the Chandlers Peak, two steel cattle yards, a multipurpose horse arena, cut out and weaning yards, horse stables, sheds and two silos.
Dorper breeder expands in NSW’s far north west
A local Dorper breeder has paid $2.66 million bare ($160/ha or $65/ac) to expand with Mulga Valley Station in New South Wales’ far north-west.
Offered by Paul and Jane Martin, the 16,576ha holding is located near Broughams Gate, 120km from Broken Hill, west of the Barrier Ranges and east of the South Australian border fence.
Broken Hill-based Nutrien Harcourts agent Troy Hartman described the sale as reasonable given the dry seasonal conditions and the property’s minimal infrastructure.
During their ownership, the Martins improved the fencing and livestock handling facilities creating an easily managed dorper breeding enterprise.
Mulga Valley has a diverse mix of native pastures, including Mitchell grass and salt bush, covering undulating sandy rises and box swamps along localised flood out areas.
Water is provided by three bores (two equipped), a substantial dam and numerous tanks.
Dorpers on Mulga Valley