THIS week’s property review includes this wrap up of recently completed sales, and a separate article on interesting recent listings across the country.
- Nardoo and Burrabadeen make around $20m
- Riverina’s Tarramia sells for reported $10m
- New England’s Maiden Creek achieves $4859/ha
- Blackall’s blue-ribbon Athol Station goes to CQ graziers
- Muttaburra’s Stockholm sold under the hammer
- Goomeri’s Galloway Downs makes $4.3m
- Miners Smoothy family pay $8m for two WA Central West properties.
Two prominent South Gippsland cattle and sheep properties have settled for around $20 million, five months after an expressions of interest campaign closed.
Located 2.5km east of Tarwin Lower and spanning 1252ha, Nardoo and Burrabadeen have been owned by the Rawson family, former co-founders of the commercial real estate agency Burgess Rawson.
Marketing agent Elders said the unique layout and topography of the properties, along with several kilometres of untouched coastline with uninterrupted panoramic views of the sandy beaches and Bass Strait, offered unlimited potential beyond their agricultural capabilities lending itself to a luxury resort, world-class golf course and/or eco-tourism pursuits.
Nardoo and Burrabadeen have been well managed over the course of ownership, with optimum fertiliser and pasture management practices being pursued. As a result, the Rawsons has consistently run 800 Yarram Park Hereford cows and 2000 first-cross and composite ewes and lambs, in addition to 80ha of hay and silage annually.
A couple from Melbourne’s south-east fringe, who own several rural properties, has reportedly purchased Nardoo and Burrabadeen.
Elders selling agent Nick Myer refused to disclose the sale price, but said expectations ‘had been met.’
“It was one of the largest rural holdings to be sold in South Gippsland. While there have been higher value rates achieved over small blocks, it was a probable district record for its size,” he said.
New South Wales
One of the southern Riverina’s most iconic holdings, Tarramia, has been purchased by the Bourchier family for a reported $10 million.
Situated 12km east of Mulwala and 90km west of Albury, the 1994ha property is a diverse broadscale farming opportunity with quality improvements.
Boasting a combination of fertile red loam and grey soils, it is extremely well watered with a reliable 19-inch rainfall, a 4km Lake Mulwala frontage, as well as general and supplementary water entitlements.
Tarramia was offered for sale for the first time in nearly 100 years by the executors of the estate of the late Marion Page, the daughter of pastoralist and businessman Sir Clive McPherson.
While the price was not disclosed, it is believed Tarramia sold in line with market expectations. Purchasers were Andrew and Ann Marie Bourchier, who plan to expand their extensive farming operations in the NSW Southern Riverina.
The sale was handled by Nick Myer and Xavier Leslie from Elders Real Estate, together with Matt Childs of Pat Rice & Hawkins.
A long period of ownership came to an end when the high rainfall, high elevation eastern fall New England property Maiden Creek sold under the hammer for $8.85 million or $4859/ha recently.
The property had been owned by Carolyn Gray’s family since 1955, however a sudden change in the succession plan dictated the sale of the 1821ha Wollomombi property, located 45km Ebor and 60km Armidale.
The terrain of Maiden Creek ranges from rolling hilltops to relatively flat country in the valley which is highly arable. The property rises to 1225m above sea level on the tops.
The country is well watered with records showing an average annual 906mm rainfall, as well as 56 earth dams and 18 troughs. The reliable Maiden Creek runs through the middle of the property.
The soil type is predominately fine loamy granite with a small percentage of basalt and traprock. Maiden Creek has benefited from a long-standing fertiliser history dating back more than 60 years.
The holding was purchased for expansion by Ian and Sally Vivers of the well-known Eaglehawk Angus Stud, situated between Inverell and Glen Innes. The Vivers family has been breeding fine cattle in the region since 1832.
Maiden Creek was marketed by Andrew Starr and Lachlan Cullen from Ray White Rural Guyra/Armidale.
The blue-ribbon Blackall grazing property Athol Station has been purchased by Central Queensland graziers David and Kate Moller for an undisclosed price.
The 36,275ha organically-accredited property boasts a quality mix of soft country perfect for breeding, fattening or backgrounding 3500 breeders with weaners, or up to 6000 backgrounders in an average season.
Jim Brennan of Brennan Mayne Agribusiness described Athol as a high-quality property that has been carefully and thoughtfully developed into a highly productive, low cost operation.
“The excellent season over most of Athol and its organic status were added attractions for the Moller family. Athol was very well presented and is an absolute credit to the vendors.”
Owners Michael and Danielle Butler are downsizing, purchasing a smaller property further south.
Three adjoining Central Queensland cattle stations have been purchased for mining purposes by coal miner Pembroke Resources for a reported $50 million.
The 41,529ha Iffley, Deveril and Twenty Mile aggregation are located 130km south-west of Mackay and 240km north-west of Rockhampton.
The cattle stations are owned by the Australian arm of US coal miner Peabody Energy, but are occupied under a long-term peppercorn agreement by the Acton Family. That deal is expected to continue until at least September 2023.
The aggregation will then be added to Pembroke’s extensive coal mining interests in Central Queensland’s Bowen Basin, including Olive Downs which is reportedly capable of producing 14 million tonnes of metallurgical coal a year. The sale was handled by CBRE’s Chris Holgar and Geoff Warriner. See further details in our earlier news report.
Muttaburra’s Stockholm Station, in Queensland’s Central West, has sold under the hammer for $3.85 million bare or $324/ha.
The 11,857ha Mitchell and buffel grass grazing property represented good value for money and was boasting incredible feed following recent rain and storms.
Water improvements included 50km of pipe and 29 troughs, providing a maximum two km radius between watering points. There are also semi-permanent holes in the Cornish and Towerhill Creeks.
According to owner Ann Ballinger, Stockholm can easily carry 2000 cattle in a good season, but conservatively 1200 head. After 18 years, she is retiring to Buderim on the Sunshine Coast.
Ben Forrest from Colliers International said there was good interest in the property, underlined by the grass and water.
“After 20 bids from six interested parties, Stockholm sold to the Drynan family from Beaudesert who will use the property as lower cost breeder country,” he said.
Galloway Downs, the picturesque breeding and fattening operation north of Brisbane, has sold under the hammer for $4.3 million by Ian Newson from Ray White Rural.
The 1949ha property, 25km from Goomeri and 70km from Gympie, was purchased by Murgon pork producers Russell and Mandy Bishop who are expanding their beef operations. The sale included all farming, irrigation plant and equipment.
Galloway Downs is well-grassed and well-watered with three irrigation bores, licence to pump from Boonara Creek, dams and a stock bore pumping to 18 troughs.
The Smoothy family, who holds vast pastoral station and mining interests in Western Australia, has paid close to $8m for two grazing properties in the state’s Central West.
Covering 3320ha, Wilara and Highhill are located in the 600mm rainfall Badingarra district in WA’s Wheatbelt region, 205km north of Perth.
Brent Smoothy is a cattleman and businessman who also runs Smoothy Helicopter Services, and earthmoving and construction business Rachlan Holdings.
He runs 45,000 head of cattle on four properties (including 653,839ha Hillside and Panorama Stations in the highly regarded Northern Pilbara region) covering more than 1.2m hectares.
Mr Smoothy said Wilara and Highhill will be planted to forage oats and used to backgrounding steers before they go to feedlots.
The sale was handled by Terry Norrish of Landmark Harcourts.