Weekly property review: Recently completed sales

Property editor Linda Rowley, 28/06/2023

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

  • CQ’s Wyseby makes $60-$70m
  • Southern NSW grazing & cropping makes $33m+
  • $23m for north-west NSW holdings
  • Goondiwindi finishing depot makes $9m+
  • Goondiwindi producer expands with NSW’s Bundabulla

NSW seedstock producers the Caldwell family and Rural Funds Management have secured some of Australia’s best buffel grass and forest cattle country in a $60-$70m walk-in, walk-out deal for Wyseby, near Rolleston.

CQ’s Wyseby makes $60-$70m

The Caldwell family from New South Wales and Rural Funds Management have secured some of Australia’s best buffel grass and forest cattle country in a $60 million to $70 million walk-in, walk-out deal.

Nestled in the renowned Arcadia Valley near the Carnarvon Ranges below Queensland’s Central Highlands, the 18,500ha blue ribbon Wyseby, pictured above, is centrally located on the Carnarvon Highway, 62km south of Rolleston. The property was sold with close to 3500 Santa cattle, including 1450 mature breeders.

The Caldwells and RFM took an equal share, with the Caldwell family operating the property.

RFM owns the neighbouring 17,500ha cattle backgrounding and finishing enterprise Rewan which it purchased in 2016 as part of its first major push into the beef sector.

The Caldwells own and operate Milwillah, a seedstock aggregation of properties on the south-west slopes of New South Wales, specialising in the supply of Angus, Brangus and Ultrablack genetics sold into domestic and overseas markets.

They are also involved in a mixed farming, cotton and water development joint venture in south-west Queensland.

Brothers Hugh and Will Caldwell said Wyseby was a once-in-a-lifetime opportunity that complements the family’s existing holdings.

“A northern base for Ultrablack and Angus genetics will enable us to expand our breeding program and continue to finish steers and bulls on grass and grazing crops,” they said.

“It is also an opportunity to continue larger scale artificial insemination and embryo transfer programs.”

The pair commended selling agent Grant Veivers from Resolute Property Group and paid tribute to Rob and Maureen Pedersen for immaculately operating, developing and maintaining Wyseby to a high standard.

The sale ends more than five generations of ownership by the Pedersen family.

The country was selected 90 years ago by Gotfred Pedersen who set about ringbarking and developing what was originally ooline, brigalow and bottle tree scrub.

Alluvial blue gum and box creek flats are found along the Carnarvon, Charcoal and Bogarella Creek systems.

Wyseby includes 680ha of cultivation, ideal for oats crops to complement the beef operation.

The portfolio is watered by multiple dams and a bore, with three creek systems providing permanent and semi-permanent waterholes.


Southern NSW grazing & cropping makes $33m+

A highly productive, breeding, finishing and cropping aggregation in southern New South Wales has been split up and sold for more than $33 million.

The 1708ha Argyle is situated near Galong, 15km south-east of Harden and 40km north-west of Yass, and features highly productive open undulating grazing and farming paddocks.

During the marketing campaign Argyle was offered with a $19,000/ha to $20,000/ha ($8000/ac) price guide.

Angus McLaren from Miller & James was unable to disclose the sale price however he described it as a strong result, saying good agricultural assets are still making very good money.

“The Argyle aggregation is a high calibre property that was extremely well maintained by owners Max and Roz Graham, who are retiring after around 60 years ownership,” he said.

The aggregation comprises two standalone properties:

  • 893ha Argyle – frontage to the Rocky Ponds Creek. Mostly granite-based brown loams. Improvements include a six-stand shearing shed, all steel sheep and cattle yards, machinery sheds, two bulk grain storage sheds and 320t grain silos. Watered by an extensive system of dams and creeks, two fully equipped bores and a Golden Fields Water connection.

Argyle was purchased by Steve Phillips, Yarrawonga Merino stud, Harden.

  • 815ha Green Gables – more than 95 percent arable. Improvements include a shearing shed, sheep and cattle yards, several sheds and 300t seed silos. Watered by dams, a semi-permanent creek, two equipped bores and a Golden Fields water connection.

Green Gables was secured by neighbour Angus Metcalfe.

The 1708ha Argyle is situated near Galong, 15km south-east of Harden and 40km north-west of Yass, and features highly productive open undulating grazing and farming paddocks.


$23m for north-west NSW holdings

Sydney-based Warren Rural Holdings has offloaded five properties in north-west New South Wales in a series of off-market transactions for around $23 million.

QPL Rural principal Craig Pellow, who handled the sale, said the 12,111ha aggregation was sold on a walk-in, walk-out basis to four existing family operators seeking expansion.

“Three of the four purchasers were local and were sold on the back of a good season and strong cattle prices,” he said.

  • The 1950ha Wilgara, 1478ha Wilgara West and 1969ha Gilgarney – all include parts of the Macquarie Marshes and are located near Quambone. The grazing and cropping holdings were purchased by a local family for $11m.

Currently run as a finishing operation, the three properties had an extraordinary capacity to grow outstanding crops and feed a massive amount of cattle due to the reliable water Mr Pellow said.

The 1950ha Wilgara, 1478ha Wilgara West and 1969ha Gilgarney all include parts of the Macquarie Marshes and are located near Quambone

  • 2196ha Wyandrie – situated between Quambone and Carinda, the mixed farming and grazing operation with good creek access was purchased by two buyers for a combined sum of $5.5m – with each taking country either side of the Merri Merri Road.
  • 4518ha Warrabone – a grazing operation near Carinda was purchased by a Mudgee producer for $6.5m.

After consolidating its assets, Warren Rural Holdings has acquired a grazing and cropping property near Narrandera in New South Wales’ Riverina.


Goondiwindi finishing depot makes $9m+

Garry and Ben Colley and family have paid more than $9 million for a well-located finishing depot near Goondiwindi in southern Queensland.

The 2003ha Warratoo is 35km north of Goondiwindi and 60km south of Moonie, and currently running up to 400 cows and calves.

With an efficient laneway system to all weather access yards, improved pastures and the ability to grow both summer and winter forage crops, Warratoo is well suited as a finishing depot.

The versatile property is also suited to a backgrounding operation, or it can be converted back to a grain operation with all of the developed country farmed at some stage.

The country is mostly flat and benefits from slow and low level flooding from the Billa Billa Creek during major rain events.

The soils are grey loams suitable for winter and summer cereal cropping, forage or pasture production.

Around 566ha has been sown to improved pastures, complimenting the existing native grasses and herbages in season.

In the past, most of the developed area grew forage and grain crops. Today, around 111ha is planted to oats.

In the past, Warratoo was set up as a cell grazing operation with good water infrastructure. It is also well watered by a privately-owned piped artesian bore and numerous dams – all desilted and enlarged in 2019.

The sale of Warratoo was handled by Andrew Jakins from Nutrien Harcourts.

Warratoo yards and cattle


Goondiwindi producer expands with NSW’s Bundabulla

Highly regarded, soft sweet heavy carrying country on the Bokhara River in New South Wales’ far north-west has sold at auction for $5.075 million bare.

The 8935ha Bundabulla is an original Soldier Settlement lease block, on one title, 50km north of Brewarrina.

It was offered for sale by Garrie and Rita Turnbull after five years of ownership and sold to a Goondiwindi sheep and cattle producer for expansion.

David Russell from Nutrien Russell Property and Livestock described the outcome as a good result following nine inspections and four registered and active bidders on the day.

Situated in a 400mm rainfall area, the country on Bundabulla is generally flat open plains with highly fertile, heavy carrying grey and black soils.

Low lying areas grow Mitchell and coolah grasses, saltbush, bluebush, copper and jelly burrs, as well as a huge body of clover and herbages in season.

Bundabulla is rated to carry 5539DSE or 0.62 DSE per hectare with the vendors running 3000 ewes plus 160 Santa cows and followers.

Water is supplied by a cap and pipe bore that exclusively supplies Bundabulla, 5km of dual frontage to the Bokhara River that provides seasonal flows, the Yamba Creek floodout system and 14 dams.

Improvements include a six-stand shearing shed and steel sheep and cattle yards.








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