LINING up perfectly with the chosen topic for today’s weekly property review, the Keough Cattle Co is planning to sell its large aggregation of five breeding and finishing properties in North Queensland.
The cornerstone of the portfolio is the 445,000ha Abingdon Downs station, an 18,000 head capacity Brahman cattle breeding property located on the Einasleigh River in the lower Peninsula/eastern Gulf region, 110km north of Georgetown.
Abingdon is well-known as one of Stanbroke Pastoral Co’s flagship gulf/peninsula breeding properties for more than 30 years, bought by the company in 1968 and sold during a portfolio reduction in 1999. One of its many features is a reliable 900mm average annual rainfall, due to its location. It is being offere dwith about 16,000 head of branded cattle on hand.
Three adjoining properties, located in the Richmond/Winton/Hughenden region, are also offered in the Keough family’s portfolio offering. They include the 14,608ha Judith Royl, the 13,700ha Robyn Downs and the 16,900ha Hamilton Downs. The fifth property being offered is the 24,100ha Star Downs Station, on predominantly downs country at Stamford. The properties have been largely destocked for the past two years due to drought, but conditions are now greatly improved.
Vendor Campbell Keough said for the past two years he had been knocking back weekly calls from agents asking if Abingdon Downs was for sale.
“Eventually I spoke to my father (Barry), who is looking to retire, and said let’s give it a shot because there is interest. We are now testing the waters. A buyer would have to be more than serious for us to part with the property because it’s a good operation.”
There has been substantial overseas interest in the Keough aggregation, which is reportedly on the market for $70m, including stock.
The assets are being offered in off-market campaign by Emerald-based Bernie Frawley from Frawley Rural Services.
- See today’s weekly property review discussion about interest in sales of aggregations of cattle properties.