RECENT investor interest in extensive Central Australian grazing properties has continued, with the sale last Wednesday of 2170sq km Coniston Station, northwest of Alice Springs.
Offered with 5200 mixed Droughtmaster-based cattle including 3000 breeding cows, plant and equipment, Coniston was passed in at auction for $12.5 million, but sold soon afterwards to a local grazier for a higher sum.
The new owner is the under-bidder, after the final bidder at auction, Steven Fogarty of Aninigie Station, declined to negotiate further.
Located 250km north-west of Alice Springs, the 217,000 ha property has 13 equipped bores and 14 sets of cattle/trap yards, making it an attractive holding for buyers.
According to agent Andrew Stephens from Landmark Harcourts, six parties, including two from South Australia, bid for the pastoral lease, which was being sold on a walk-in, walk-out basis
“Coniston is considered one of the best stations for productivity and water in the tightly-held Central Australia region. It was the first substantial rural property auction in Central Australia for more than seven years and attracted strong interest,” he said.
Coniston has been held by the Lines family for more than 35 years. For the past three years, Jacqui Lines has been running the station with the help of her family and staff, following the death of her husband Max, a well-known Territorian.
Mr Stephens said following a good summer Coniston had a great body of feed.
Agents: Landmark Harcourts.