Property

Movement at the station: Properties for sale

Property editor Linda Rowley, December 2, 2020

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

  • South Australia’s Patchawarra could fetch $20m
  • $12m anticipated for Upper Hunter gem
  • EOIs for Wave Hill near completion
  • NT’s Dixie Station offers opportunity
  • Sought after country in NSW’s far west

South Australia’s Patchawarra could fetch $20m

South Australia’s Patchawarra Aggregation, boasting scale and versatility, is expected to make around $20 million.

Situated at Tintinara in the state’s Upper South East, the holding has been with the Chaplain family for the past 27 years, who are selling due to a family restructure.

The 3716ha holding is being offered for sale as a whole or four separate contingent lots – the 1788ha Patchawarra, the 623ha Balalie Downs, the 813ha Toonagh and the 491ha Sunwood Park.

Suited to cattle and sheep, lucerne and cereal hay production, the holdings offer attractive flat to undulating well drained country supported by strong pastures which consistently produce market topping lambs and cattle.

Mike Lind from Elders said the properties have been fenced to a high standard for cattle and sheep.

“The vendors have installed 100km of new cyclone and barb fencing in the last three years with extensive laneway systems for ease of livestock and machinery movement,” he said.

All properties have been conservatively stocked with 6200 ewes and lambs and 380 cows and calves.

Patchawarra boasts underground water which is pumped to tanks that reticulate to concrete troughs. Expressions of interest close on December 17.

South Australia’s Patchawarra Aggregation, boasting scale and versatility, is expected to make around $20 million.

$12m anticipated for Upper Hunter gem

Tenders for Murrurundi’s Timor Cattle close this week, with the well-developed beef cattle operation anticipated to make between $11.5 million and $12 million.

Situated in the productive Upper Hunter Valley region of New South Wales, the 1679ha holding is located 29km from Murrurundi and 42km from Nundle.

Gavin Beard from Nutriens Harcourts said no expense has been spared by the fastidious owner.

“The city-based investor, who has held the property for two years, has erected all new cattle yards and fencing and refurbished the 32 bay horse stables. After the sale, they will head back home, overseas,” he said.

Timor Cattle was originally developed for beef cattle and Thoroughbred breeding by Jack Kelso. In 1987, it was purchased by the Stern family who continued to develop the commercial beef cattle operation. Today, the property can carry more than 1000 Angus breeders and trade steers.

Positioned at the foothills of the Liverpool Ranges, Timor Cattle comprises a mixture of open cleared arable valley country rising to sheltered valleys with scattered timber. Soft red and brown basalt soils are ideal for perennial pasture establishment, including fodder cropping oats, lucerne or dual-purpose grazing crops.

Numerous dams and permanent springs with double creek frontage provide reliable water sources, along with two bores.

Mr Beard said there had been strong city and rural inquiry, up and down the eastern seaboard, from Queensland to Tasmania. Tenders close on December 3.

Tenders for Murrurundi’s Timor Cattle close this week, with the well-developed beef cattle operation anticipated to make between $11.5 million and $12 million.

EOIs for Wave Hill near completion

Mostly domestic parties make up the short list tendering for one of Australia’s most iconic large-scale North Australian beef cattle property aggregations.

The Wave Hill and Cattle Creek Stations, spanning 125,000,000ha and running 58,000 Brahman and Brahman cross cattle, are being offered to the market with expectations of around $100 million.

Located in the Northern Territory’s Victoria River District, 460km south west of Katherine, the adjoining properties have a proven history of producing beef cattle for close to 140 years.

Ben Cameron from Brisbane-based Bentleys Transaction Services would not disclose the number of short-listed participants, but it is believed to be around eight.

Mr Cameron is hoping to have contracts signed this side of Christmas – all things going to plan.

“We are well on track and property inspections have been carried out well before rain, with settlement likely in March next year,” he said.

Wave Hill is a live export focused operation that breeds and grows out cattle for supply direct to the trade and processing customers. Situated on high open downs with basalt plains and covered in Mitchell grass, the water infrastructure is extensive with 76 bores providing access for cattle grazing across the properties.

For the past 28 years it has been owned by Western Grazing, one of Australia’s largest beef producing companies that is divesting the asset as part of a strategic review of its cattle operations.

Wave Hill is being offered on a walk-in walk-out basis including 40,000 branded Brahman cattle, plant and equipment.

Mostly domestic parties make up the short list tendering for one of Australia’s most iconic large-scale Northern beef cattle property aggregations, Wave Hill and Cattle Creek.

NT’s Dixie Station offers opportunity

Locals and producers from Queensland are showing good interest in Dixie Station on the Northern Territory’s Sturt Plateau.

The 46,200ha perpetual pastoral lease is 110km south west of Katherine. Located over the Tindal Aquifer, Dixie Station is watered by four bores, eight dams and numerous semi-permanent waterholes.

Over the last 11 years, the vendor Bill Doyle has invested in weed and regrowth control, clearing 1265ha and improving pastures.

For the last five years, Dixie has been mostly stocked with agistment cattle, however the vendor estimates the developed carrying capacity to be 3100 adult equivalents.

Dryland hay has been produced on Dixie Station for 10 years, producing in excess of $310,000 per season.

Peter Watkins from Australian Ag Advisory and Management believes this area could be significantly increased by an incoming purchaser.

There are also a number of alternative dryland cropping opportunities that could be explored, such as tropical legumes and tropical cereals.

Dixie Station is being offered on a walk-in walk-out basis with an extensive farming plant. Expressions of interest close on December 15.

Located in the Sturt Plateau region southeast of Katherine, Dixie can carry 3100 Adult Equivalents.

Sought-after country in NSW’s far west

The historic Nimagee Station, in New South Wales’ far west, is boasting a huge body of dry winter feed and attracting plenty of interest.

Located 10km north west of Nymagee and 100km south-east of Cobar, the 12,191 hectares have been held by members of the Warner family for more than 80 years.

Steeped in pastoral history and heavy carrying grazing country, Nimagee was originally settled by the well-known Killen family (E. Killen & Sons Limited) who also owned Moonagee, Gerar and Wee Jaspar sheep stations around Nyngan. AA Co managing director Hugh Killen is a descendent.

The country is semi open box and kurrajong, with highly fertile soils and flood out flats. It is watered by 27 earth dams and a bore.

David Russell from Landmark Russell said Nimagee is listed with a $2.8 million price tag, bare of livestock and plant.

“It is currently destocked but was being run as a sheep and goat harvesting property – rated to carry 4644 dry sheep equivalents and cattle in season. The interested parties who missed out on Florida Station are doing their sums on Nimagee, because it is in sought-after area,” he said.

Interestingly, Nimagee Station was misspelt during registration, hence the “i” and the local township being spelt with a “y”.

The historic Nimagee Station, in New South Wales’ far west, is boasting a huge body of dry winter feed and attracting plenty of interest.

 

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  1. Marilyn Knight, December 3, 2020

    Lets keep foreign ownership out of buying this lot of amazing stations developed by hatdworking aussie families. Good luck on this venture. Regards from a patriotic aussie😊

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