THIS week’s property review includes a wrap up of recently completed sales, and a separate article on interesting recent listings across the country.

• Well known Brahman headquarters pastoral address sells for $19m+
• $40m+ for discounted SA grazing
• SA’s Mahanewo sells after 86 years
• Einasleigh’s Redrock makes $11m
• QLD producers pay $21m to expand
• Injune block sets a new district record
• Neighbours secure Wanaaring’s Nardoo Station
• NSW granite breeding exceeds expectations
• NW QLD’s Bora Station makes $5.8m
• Local secures blue chip breeding & fattening block

Well known Brahman headquarters sells for $19m+

One of Northwest Queensland’s best known Brahman breeding operations, Elrose Station, has transacted for more than $19 million.

While there were 2000  cattle originally available as part of the sale offering, they were not part of the transaction. Beef Central’s original report published yesterday incorrectly said cattle were included.

Located 64km south east of Cloncurry and 46km northwest of McKinlay, Elrose covers 29,035ha with the main homestead block spanning 25,690ha and two lease blocks 3345ha. There is also access to 2834ha to 3238ha of useable stock route country.

Nutrien Harcourts Queensland Rural was unable to disclose the price or the buyer, however it is understood to be a South Australian-based company that owns a property in the Gulf.

After more than a century of ownership, Rodger and Lorena Jefferis (widely recognised as industry leaders in the northern Australian beef sector) have downsized to their block at Moura in Central Queensland.

Mr Jefferis’ grandfather drew the original block and successive generations have developed the breeding and fattening enterprise and its cattle herd into one of the nation’s pre-eminent northern seedstock and commercial operations.

Elrose boasts a mixture of downs, creek and river frontage country and gently elevated red tableland country.

Natural water is a feature with 25km of double frontage to the Fullarton River plus an extensive system of creeks and channels.

The aggregation also supports a network of dams, bores and a number of seasonal waterholes.

When Elrose was listed in June last year, selling agent Troy Trevor said the reputation of Elrose was second to none.

“It is a highly productive asset that is well located in relation to the major arterial beef networks to northern Australia,” he said.

Last week, the Jefferis family held an Elrose Brahman Stud herd reduction sale that achieved a record $6.4 million.

$40m + for discounted SA grazing

Four local families seeking expansion have secured discounted prime grazing land in South Australia’s south east for more than $40 million.

Earlier this year, a 7110ha parcel of land, comprising 13 blocks, was offered for sale in the heart of Wattle Range and Coles, in the Limestone Coast region, centrally located between Lucindale, Penola and Millicent.

Owned by a Sydney-based trust investment company, the country had been used for forestry, and all lots contain remnant stumps from felled plantations harvested in 2014/15.

Simon McIntyre from Nutrien Harcourts said a portion of the offering was sold, but was unable to disclose the buyers or the price paid.

“The discounting occurred due to the work needed to return the country to its highest and best use – cattle and sheep grazing.”

“The level of interest was staggering, reflecting a lack of supply and strong demand for properties in high rainfall areas of South Australia’s south east,” Mr McIntyre said.

Currently being grazed under licence, each block on Elad Road was fenced and watered from one or more bores equipped with solar powered submersible pumps connected to poly tanks.

In the 12 months leading up to the expressions of interest campaign, local values for established grazing properties in the Coles region were making between $9800/ha and $11,250/ha.

SA’s Mahanewo sells after 86 years

A farming family from South Australia’s mid-north is believed to have paid close to $4.5 million walk-in, walk-out, for prime pastoral country in the state’s far north.

The 119,000ha Mahanewo Station, located 190km north of Port Augusta, has been held by the Manning family since 1935.

Selling agent Simon McIntyre was unable to disclose the buyer or the price paid, but said the buyers are well-established farmers, who run a mixed cropping and livestock enterprise, and have been seeking to diversify into grazing for the past 24 months.

The country on Mahanewo has a significant coverage of bush country (sandy soils with blue, pearl and salt bushes, Myall, black oak and mulga trees) ideally suited to sheep breeding and wool production. While the station has been conservatively stocked, it has a pastoral board rating of 10,500 sheep equivalent.

There are three significant pipeline systems delivering water to most paddocks, as well as two bores, eight wells, 12 dams and 11 staging tanks.

Mahanewo sold on a WIWO basis including 4596 merino ewes, rams and plant.

Einasleigh’s Redrock makes $11m

Prominent Brahman breeder Alf Collins, from Belah Valley at Marlborough, has paid $11 million for Einasleigh’s 22,700ha Redrock Station in far north Queensland.

The sale included 1900 head of cattle comprising 1790 mixed females, 80 weaner heifers, all progeny at foot and 30 bulls.

Redrock is close to the Atherton Tablelands and within 330km of Charters Towers, Townsville and Hughenden.

It consists of mostly undulating to hilly and useful range country, with fertile alluvial and black soils on the river frontages and strong pastures.

Redrock boasts 24km of double and single frontages to Einasleigh River. It also watered from extensive permanent and semi-permanent river and creek waterholes, 17 dams, a bore and a permanent spring feed creek.

The boundary is fully fenced and well maintained and consistently runs between 2500 and 3000 mixed cattle.

Henry Slaney from Slaney & Co, who handled the sale, said the property ticks a lot of boxes.

“It is ideally located, within a predictable rainfall climate, to provide a reliable cattle turnoff to live export or meatworks.”

The well-respected, safe breeding cattle enterprise attracted a high level of interest, especially from locals who understand its capabilities and from Central Queensland producers chasing a breeding enterprise to support their downs country.

QLD producers pay $21m to expand

A southern Queensland grazing family seeking expansion has paid around $21 million for north west Queensland’s large-scale Thornhill Aggregation.

The 36,891ha asset comprises four adjoining properties situated 50km west of Hughenden and 65km east of Richmond. They include:

• 10,060ha Thornhill is watered by the Walkers and Eastern Creek channel systems and a bore. It can carry 1250 AE.
• 10,712ha Killarney is watered by the Sloane channel system and two bores. It can run 1350AE.
• 11,688ha Tamworth is also watered by the Sloane channels and a bore. It can run 1400AE.
• 4431ha Bareeba is watered by a bore. Water is also supplemented via a piping system from Tamworth and Killarney for extra security. It can run 500AE.

The country features open undulating black soil, Mitchell and Flinders grass downs country with some prickly acacia.

The tick-free properties are well set up to handle large mobs of cattle with extensive water and fencing development and at the time of sale, was boasting a good body of feed for this season.

With bitumen frontage via the Flinders Highway, the operation has the ability to supply markets year round, enabling it to be run as either a breeding, backgrounding or trading enterprise.

Tom McLeish from TopX and Henry Slaney from Slaney & Co handled the marketing and sale of the Thornhill Aggregation.

Injune block sets a new district record

A scenic 435ha property described as some of Injune’s finest country has set a new district record for a bare block.

Located 25km south west of Injune, in southern Queensland’s Maranoa region, Nick’s Paddock, was secured for expansion by a prominent local family for $2.18 million or $5011/ha.

Carl Warren from TopX Australia said the tightly-held country was strongly contested by neighbours and locals.

“Nick’s Paddock is one of the premier blocks around Injune, known for being safe and reliable year in year out. There was a flurry of bids from the five active bidders on the day and was over in just four minutes – the quickest auction we have undertaken,” he said.

While several recent sales have made more dollars per hectare, Nick’s Paddock did not include housing or yards.

Owned by David and Kate Gordon, the block offered an abundance of buffel and is well watered with a new share bore and two dams.

Neighbours secure Wanaaring’s Nardoo Station

Close to 100 years of single-family ownership has come to an end for the Browns after selling Nardoo Station, in New South Wales’ far northwest, for $3.675 million.

Spanning 38,868ha, Nardoo is situated 30km north of Wanaaring, and is rated at 7000 DSE.

It was sold to Todd Grace and partners from the adjoining property.

Over the past 25 years, Nardoo has been run as a cattle operation, historically handling 650 breeding cows.

The gently undulating red loam semi open grazing country is watered by 15 earth dams and three bores. Heavily grassed, quick-responding soft herbage grazing country is timbered with corkwood, beefwood, scattered kurrajong, box swamps and good stands of mulga.

David Russell from Landmark Russell handled the sale.

NSW granite breeding exceeds expectations

An established operator from New South Wales’ Hunter Valley has secured a sizeable grazing opportunity on the Northern Tablelands for more than $2.3 million.

The Clayton Aggregation offers 4231ha of productive granite breeding country, located 110km from Goondiwindi and 130km from Inverell – and close to major livestock selling centres and meat processors.

Comprising the adjoining 1968ha Clayton and 2542ha Kenilworth, it is an ideal add-on or stand-alone property suited to cattle, sheep and/or goat production.

It has been held by several generations of the Rowe family, with the current owner, Brisbane-based Mary-Anne Rowe, deciding to sell.

Phillip Kelly from Colliers International said the property attracted solid interest from producers in Queensland and New South Wales and sold above expectations.

“The large-scale operation offers a significant expansion opportunity. Clearing, and the introduction of improved pastures and fertilisers could lift production from 3500 dry sheep equivalents to between 500 and 600 breeding cattle.”

The Clayton Aggregation is watered by bores, large dams and seasonal creeks.

Bora Station

A local has secured northwest Queensland’s Bora Station in an off market transaction for $5.8 million bare of livestock, but with some basic plant.

Located 100km south of Richmond, the 11,169ha freehold lease features open rolling Mitchell grass downs.

Owned by Lyn Kersch, Bora Station is watered by an artesian bore and a 1600 megalitre water licence.

Andrew Adcock from Adcock Partners handled the sale.

Local secures blue chip breeding & fattening block

A well-known local cattle producer has secured blue chip breeding and fattening country in southern Queensland’s renowned Upper Yarraman / Cooyar district.

Trevor Leishman from Elders Real Estate Toowoomba was unable to disclose the buyer’s name, or the price paid, but it is understood The Palms sold for around the $3 million asking price.

Situated 100km from Toowoomba and 60km from Kingaroy, the 373ha holding is owned by the McNally family who has decided to downsize.

The Palms is named after the tall palm trees which grow on the property’s six hectares of natural rainforest.

It comprises spring-fed low-lying fertile flats rising to elevated, developed scrub vine country featuring dark brown to red volcanic soils – around 73ha are currently planted to sorghum.

The grazing country, which can run 300 backgrounders, is carrying a large body of pasture due to recent destocking.

Water is feature. Among the tall palm trees is a meandering spring feed water way, as well as two other springs and four dams.

The Palms, boasting quality infrastructure and 95 percent of new fencing, was sold bare of cattle, but with a list of quality machinery.

 

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