- Contracts on NT’s Mt McMinn
- Deloraine on Melbourne’s fringe makes $200m
- Moura’s Shauna Hills sells for $10.75m
- Buneep Park near Melbourne has expectations around $10m
- VIC almond aggregation could make $350-400m
- The Two Mile Nowendoc’s showcase
- Warrawee and Hillcrest under negotiation
- Alice Springs Yambah Station includes 4800 branded cattle
- Stanley House has picturesque Somerset Dam frontage
- Bauhinia’s Onedin carries $12m pricetag
- Morven’s Mt Maria runs 2500 breeders
- Interest in Blackall’s 30,000ha Caranna-Lynbrydon aggregation
THIS week’s property review includes a wrap-up of recently completed significant sales across the country, and interesting recent listings.
Properties sold: Northern Terrritory:
Alison Ross from Elders Katherine has cancelled this week’s Mt McMinn auction, after placing the Roper River district station under contract.
The 80,900ha Mt McMinn, 140km east of Mataranka and 250km south-east of Katherine, boasts stunning escarpments and hills, open black soil and typical red soils.
Mt McMinn is owned by brothers Daniel and Michael Cahill who manage Cahill Transport – a family-owned transport company and general logistics service provider with strategically-placed depots across Australia.
The property can comfortably run 5000 head, but in a good season has the capacity to run up to 8000 head.
While Ms Ross refused to disclose the buyer or the price, she said the offer was similar to the auction reserve.
Eco-tourism is a business opportunity at the site, with the Roper and Hodgson Rivers teeming with barramundi and saltwater crocodiles.
Properties sold: Victoria
Deloraine, a cattle property situated within one of Melbourne’s major growth corridors on its peri-urban fringe, has reportedly sold for $200m to real estate investment firm Akron Property Group, which specialises in the acquisition, development and management of residential real estate.
The 600ha enterprise at Beveridge, 42km north of Melbourne, has been owned by the Laffan family – third generation beef producers – for the last 54 years. They are relocating to another farm in northern Victoria.
Deloraine is likely to become the city’s newest suburb, with the potential to accommodate 6000 residential blocks, plus schools and public parks.
Real estate agency Biggin & Scott Land sold Deloraine via an international expressions of interest campaign which closed mid-April.
Properties sold: Queensland
Bauhinia district property Shauna Hills sold at auction last week during Beef 2018 in Rockhampton for $10.75m (or $1787/ha) to a family from Queensland’s Central Highlands.
Ten bid cards were issued, and the eventual price was considered towards the upper end of expectations. Being Expo week, the auction drew a big crowd of onlookers, with around 200 present.
Located 112km west of Moura, the 6014ha grazing enterprise boasts strong stands of buffel and can carry 1000 breeders plus progeny to weaners.
Water is a stand-out feature with 16 dams and a flowing bore piped through the entire property servicing tanks and 36 troughs.
New owners, the Pickersgills from Washpool at Comet, will use Shauna Hills to expand their growing cattle business portfolio, using the property for backgrounding and finishing.
The sale was handled by Gary Bishop from Hourn and Bishop Qld and Virgil Kenny from Elders.
Properties for sale: Victoria
The historic and highly productive Victorian grazing enterprise Buneep Park could achieve around $10m given its prime location.
Just 73km from Melbourne and close to the expanding south-east growth corridor, the 360ha property is one of the largest individual landholdings in the West Gippsland region.
The cattle and sheep grazing property is underpinned by improved pastures, excellent fertiliser history and a strong carrying capacity.
The owners, Andrew and Jan Troedel, have ensured the property has first-class operational infrastructure, including high-quality fencing, an all-weather laneway system and reticulated stock water to each paddock.
James Beer from CBRE said most of the inquiry was coming from people interested in the property’s land bank potential.
“The likely buyer will be a high net-worth individual seeking a property close to Melbourne’s CBD who will benefit from capital appreciation.”
Buneep Park has been listed for sale by CBRE and Alex Scott and Staff via an expressions of interest campaign closing on June 1. It is available on a walk-in walk-out basis, including 360 Angus cows and 1300 breeding ewes.
VIC almond aggregation could make $350-400m
The world’s second largest almond orchard aggregation, in Victoria’s Sunraysia region, will be put to market in coming months, with some price expectations as high as $350-400 million.
The sale would be easily the largest for irrigated cropping land of any type in Australia, dwarfing the +$200 million Cubbie Station cotton sale.
Established almond orchards are in red hot demand in Australia, recently achieving sales of $70,000 to $90,000/ha for mature trees, without water, according to valuers, Herron Todd White.
CBRE Agribusiness has been appointed to market the Sunraysia portfolio owned by Adveq Almond Trust 2. Investors in the project include Swiss investment fund Advec, Danish pension fund Danica, and the Michigan Pension Fund from the US. The Trustee for the trust is Laguna Bay Pastoral Co, an Australia based specialist agricultural fund manager.
Included is a portfolio of eight properties covering 20,000ha, of which 12,000ha has been established to almonds. The portfolio benefits by a long-term lease to Olam Orchards Australia, a subsidiary of Olam International, the second largest grower and marketer of almonds globally.
CBRE Agribusiness’s Danny Thomas said the opportunity was unprecedented in the current market and the holdings are expected to attract strong international and Australian buyer interest.
“The long-term lease to Olam Orchards Australia, one of Australia’s leading agricultural companies and one of the largest growers and marketers of almonds globally, will be very attractive to a deep pool of global investors,” he said.
CBRE is inviting offers for the portfolio by expression of interest.
Properties for sale: New South Wales
Beef producers will have the opportunity to purchase some of the best natural fattening country in Eastern Australia when Nowendoc’s The Two Mile is auctioned by Meares & Associates.
Located on the eastern fall of the tightly-held New England region of northern New South Wales, 70km from Walcha and 114km from Tamworth, the 1046ha property boasts 10km frontage to the Nowendoc River, altitude, high rainfall (1000mm), pristine spring water, rich basalt and loam soils and temperate climate, together with its extensive pasture and topdressing program and irrigation.
In January 2015, owner Peter Pickles (the founder of Pickles Auctions which specialises in auctions and valuations) listed the then 580ha property for sale at $4.2m. It was subsequently withdrawn and over the past three years, he and his wife Susan have almost doubled the property’s size by purchasing four adjoining blocks.
Today, The Two Mile is a beef fattening factory estimated to carry 700 breeding cows or finish 800 steers averaging 600-650kg liveweight.
Principal Chris Meares said The Two Mile is a dynamic beef cattle finishing investment opportunity.
“There are three outstanding locations in New South Wales – Ebor, Yarrowitch and Nowendoc. Weight gains are unusually high in these areas because the country is 800 to 1000m above sea level, there is high rainfall, mainly volcanic soils and it has a maritime climate (relatively close to the coast but on top of a plateau).”
Mr Meares said rainfall was one of the drivers of interest.
“There has been strong enquiry from lower rainfall areas – Queensland, western and southern New South Wales – and also from overseas. Producers are looking for higher rainfall, reliability of rainfall and fattening country.”
The Two Mile is being auctioned (including online interface) on May 24. It is expected to achieve between $8.5m and $9m.
CBRE has withdrawn from auction two landholdings with multiple income options, 3.5 hours from Sydney.
The 730ha Warrawee and 198ha Hillcrest, located 27km north of Bathurst, were scheduled for auction on May 3, but selling agent Richie Inglis explained several interested parties were unable to act under the terms and conditions on the day.
“We’re negotiating with a number of interested parties, with Warrawee now listed for $1.45m and Hillcrest for $630,000,” he said.
With a combined carrying capacity of 1700 dry sheep equivalents, Warrawee and Hillcrest have a history of running both cattle and sheep. The vendors, Adam and Maryanne Boyd, also capture more than 1000 wild goats a year, generating $45,000 to $50,000 a year in additional income.
Properties for sale: Northern Territory
Close to 3500 people have remotely inspected the 2310sq km Yambah Station, a well-developed, large-scale breeding property in the tightly-held Alice Springs region.
Home to one of Australia’s largest commercial Shorthorn herds, comprising 5000 breeders, the property is centrally located, 60km north of the Alice.
Boasting double bitumen frontage to the Stuart and Plenty Highways, it is tick-free, blue tongue-free and naturally suited to organics.
Antony Glynn from Central Australian Rural Property said since advertising on Beef Central, thousands have visited his website http://centralruralproperty.com.au/ and watched the Yambah Station vimeo.
The property is likely to attract a cross-section of buyers, including Top End producers wanting to expand their breeder holding or producers from South Australia, Queensland or NSW seeking a calf factory.
Held by the Gorey family for more than 80 years, Yambah Station is now being sold for succession reasons by Aaron and Kerina Gorey, who also own the 3710ha Range View at Glenmorgan in Queensland.
Mr Glynn said an important feature of Yambah was the water infrastructure.
“It has 44 watering points, comprising 21 dams and waterholes and 23 bores. At 22 of those bore locations, the vendor has drilled and equipped two adjacent holes to strengthen water security and aid management. One is equipped with a Kubota diesel motor and the other a solar submersible or is wind powered. This provides water security and ease of management rarely seen.”
Yamba Station is being sold walk-in walk-out with extensive plant and 4800 branded cattle. Expressions of interest close at the end of June.
Properties for sale: Queensland
The historic property Stanley House, situated between Kilcoy and Esk in south-east Queensland, is on the market for the first time in 133 years.
The iconic Brisbane Valley grazing property is owned by sibling beef producers Jane and Charles Burke, a former chief executive officer for Agforce.
Ms Burke said her family has had a long history of producing beef, but it was time for someone else to take over the reins.
Click here to see a short video on Stanley House
“Our great grandfather took up the block in 1885 and named it after the Stanley River which ran through the property before the Somerset Dam was built in the 1950s,” she said.
Stanley House has been a breeder block, but is currently backgrounding 400 adult equivalents.
The 819ha property comprises multiple titles over 698ha freehold, plus 121ha leasehold. It also boasts a licenced 50-head AusMeat approved feedlot.
Most of Stanley House comprises brown to dark grey loamy sands overlaying red clay. The terrain is undulating to hilly.
A major feature is its direct access to the water of Somerset Dam, including a one ML water licence. There are also four run-off dams, with most paddocks well-serviced with natural and spring-fed permanent water.
Rawdon Briggs and Ben Forrest from Colliers International are handling the expressions of interest campaign which closes on June 13.
Onedin, a premium breeding and fattening property in the renowned Bauhinia District of Central Queensland, has been listed for sale with a $12m price tag.
The 8071ha property, located 50km from Bauhinia and 90km west of Moura, is described as having an excellent balance of country – including bonewood softwood scrub, improved pastures, soft open creek frontages and quality open forest country running into black basalt into the ranges. Eight hectares are cultivated for hay production and 32ha is established to leucaena.
Watered by nine dams, Onedin is situated at the headwaters of Little Roundstone Creek which runs through the property providing seasonal watering holes. It is currently carrying 1100 breeders with progeny to weaners.
The property is owned by the De Gunst family, owners and operators of the Bundaberg-based De Gunst Transport which undertakes bulk haulage contracts for the local sugar and mining industries.
Virgil Kenny from Elders said the vendors had decided to sell to expand their transport interests.
“The De Gunsts have only held Onedin for 18 months, but they have undertaken substantial property improvements and developments. It is exceptionally good country for breeding or fattening, ideally suiting producers seeking grass, scale and location.”
The highly-regarded north-east Morven grazing enterprise, Mt Maria and Dulbydilla aggregation, will be auctioned by Elders on June 8.
Mt Maria is located 13km north-east of Morven. Dulbydilla, which adjoins Mt Maria to the east, is situated 17km north-west of Mungallala.
Selling agent Daven Vohland said the properties were well located just north of the highway.
The 22,843ha aggregation boasts an excellent mix of soil types and would be ideal for northern producers seeking a southern depot or producers seeking a large-scale breeding property. The aggregation can run 2500 breeders with progeny to weaners.
He said Mt Maria and Dulbydilla were securely watered.
“The aggregation is situated in a higher rainfall area (23 inches) and has three bores, 22 dams, numerous tanks and troughs. Eight inches of rain since January has resulted in a good body of feed.”
Mr Vohland said the aggregation is within a wider cluster fence program, making more appealing to buyers.
“While it is unlikely to attract a price premium, cluster fencing is valuable because it stops the dog predation, the kangaroo challenge and protects the grass.”
The owners of Mt Maria and Dulbydilla, Edward and Fiona Simson also own a grain and beef enterprise on the Liverpool Plains in northern NSW and are consolidating their business interests.
The successful buyer will have the option to purchase plant, machinery and livestock at valuation.
Good interest in the Blackall district has prompted the Hirsch family to list their 30,000ha Listowel Valley aggregation Caranna-Lynbrydon, 115km south of Blackall and 170km west of Augathella.
With a diverse mix of country and soil types ranging from black soil to semi open pebbly downs and gidgee, it features flood-out country via a large system of channels at the head of the Bulloo catchment. Dominant grasses are buffel, Mitchell, Flinders, blue grass and seasonal herbages.
The property is well fenced with new exclusion fencing, as well as a dingo barrier fence.
Caranna and Lynbrydon are watered by two sub-artesian bores and 36 dams, equipped with 22 tanks and more than 50 troughs, many with remote monitoring installed. There are permanent and semi-permanent waterholes in the Pleasant, Boggy, Auberg and Blackwater creeks.
Steven Goodhew from Raine&Horne said the aggregation would be ideal for producers seeking scale and versatility, for breeding, backgrounding or fattening.
“In a good season, Caranna and Lynbrydon would comfortably carry 2000 cows and calves or 4000 backgrounders. There are currently 1700 females running on the aggregation that could be made available for purchase.”
Caranna and Lynbrydon have been listed for sale by public tender by Raine &Horne and Blackall-based Barron Agencies, closing on June 15.