Online property auctions under the COVID-19 era are performing well, with Blackall district grazing property Listowel Downs being sold ‘under the hammer’ this morning for $12.6 million to a North Queensland grazing family buyer.
Listowel was one of the first cattle properties to be marketed more or less entirely under COVID-19 era restrictions, from inspection stage through to final sale.
Unlike a physical auction where purchasers who buy under the hammer are automatically obliged to disclose their identity, the buyers of Listowel chose to remain anonymous, under the terms agreed to via the online public auction process.
They were described by marketing agents, Colliers International, as a large North Queensland beef producing family seeking expansion in western Queensland. They do not currently hold land assets in the Blackall district, but have ‘significant’ landholdings in northern parts of the state, Beef Central was told.
They will use Listowel as an additional breeder area and as a cull cow and backgrounding depot.
Today’s sale figure equates to an area price of $490/ha.
The auction, described as a ‘synthetic’ online auction held over 24 hours (there was no auctioneer physically calling bids, via video feed) attracted two registered bidders. A total of three bids were fielded. Viewing audience stats were not available at the time this item was posted.
The last time Listowel Downs was offered for sale was during drought in 2016, when a traditional public auction attracted no bidders.
Pre-sale inspections totalled five – including two local interests and three from further afield. All were conducted under current COVID-19 rules, using separate vehicles travelling in convoy.
Vendor, fund manager Sustainable Land Management Australia, was selling Listowel following the dramatic change in seasonal conditions this year.
Located 90km south of Blackall in the blacksoil downs belt of Western Queensland, the 25,702ha beef and sheep property was marketed as suiting producers looking for scale and quality country.
Featuring clay soils and lightly shaded gidgee and boree timber, the country type was described as ideal for breeding and fattening on Mitchell and buffel grasses, as well as a variety of annual herbages currently in season.
Improvements are in good condition and include multiple dams plus tank and trough facilities, and good fencing.
Carrying organic certification and compliance, Listowel Downs can carry up to 4000 adult equivalent cattle or 25,000 sheep.
Colliers Rawdon Briggs and Trenton Hindman handled the sale.