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.

• NSW Government offloads iconic stations
• Top Inverell block attracts early interest
• Roma’s Mt Lonsdale selling after 70 years
• Grass and rainfall feature at Woolooga’s Burnside
• Opportunity knocks on Mitchell’s Bonus Downs

NSW Government offloads iconic stations

The renowned New South Wales grazing aggregation Nulla Nulla and Noola Stations are being sold via an expressions of interest campaign closing later this month.

The iconic adjoining holdings, spanning 50,700ha, are situated on the northern and western side of Lake Victoria (no frontage) in the state’s lower south-western division, 95km north west of Mildura and 90km east of the Riverland town of Renmark.

The holdings are being offered to the market as a whole or in two non-contingent parcels comprising 42,841ha and 7859ha respectively.

Both stations have had a long history of breeding and grazing sheep for wool and lamb production, as well as cattle, but would also complement goats.

Nulla Nulla and Noola boast flat to gently undulating country, with a well-balanced mix of edible native herbage, grasses (in season) and forage shrubs.

Historically, their water supply was sourced from a combination of ground tanks and a pipeline leading from Lake Victoria. However, that existing water infrastructure will not pass with the sale of the two properties.

When the assets were purchased by the NSW government in 2007, they were destocked and the boundaries realigned so the new owners would not have absolute frontage to Lake Victoria – an important cultural heritage site for the Aboriginal community and an indispensable environmental resource for a major part of the health of the Murray River, its plants, animals and ecosystems.

For that reason, the condition of the bush and timbered country has benefitted from not operating recently as a commercial grazing property.

To this extent, the opportunity exists for institutional investors to purchase Nulla Nulla and Noola as a large-scale conservation management asset or wildlife sanctuary, given they are in close proximity to Lake Victoria, Rufus River, Chowilla Game Reserve and Floodplains, Danggali Conservation Park and Tarawi Nature Reserve.

Nulla Nulla features a substantial circa 1910 Queenslander-style homestead, a local heritage-listed raised woolshed with a distinctive sawtooth roof and the ruins of an original post office and general store.

Michael Fernandez from Landmark Harcourts is handling the EOI campaign which closes on February 24.

Top Inverell block attracts early interest

Arguably the best block in the Inverell district is up for grabs, and there has already been strong interest from farming families, corporates and locals.

Held by the Uebergang family for four generations, the Moseley Dene aggregation offers the finest soils in the region and is located just five minutes’ drive from Inverell.

Moseley Dene comprises three adjoining properties spanning 1366ha of heavy self-mulching black soils that for 100 years have achieved record breaking yields for a variety of crops.

Due to the gently undulating topography and length of river flats there is very little, if any, unproductive country.

Best known for its award-winning cropping history, Moseley Dene has also produced market-topping weaners and award-winning prime cattle.

Two sets of cattle yards are located on the property offering all weather access and a 300 head feedlot can be reinstated if required.

Numerous silos provide the ability to store bulk grain on farm and enhance the lotfeeding potential.

Situated on the Macintyre River, the property has numerous bores both capped and flowing. It recently received beneficial rainfall and is anticipating more.

Bruce Birch from Ray White Rural said the owners are genuine sellers seeking to retire.

“Moseley Dene is an impressive place that is extremely fertile. To get 1366 hectares of farming country of that quality you would normally have to go to the Breeza or Liverpool Plains,” he said.

Moseley Dene is being auctioned on March 6.

Meantime, ill health has triggered the sale of northern New South Wales’ Wirrabilla, spanning 791 hectares.

Wirrabilla, owned by Bruce and Georgie Butler, is situated 20 minutes from Bingara, at the top of the renowned Horton Valley – an area highly regarded for its cattle production.

The soft undulating country comprises mostly red volcanic soils with grey loams. More than 600ha is arable.

Extensive contour banks have previously allowed for broadacre cropping of both oats and forage sorghum, allowing Wirrabilla to value-add by retaining weaners through to feedlot weights.

Bruce Birch from Ray White Rural reports that in the last seven days, the property has received beneficial rain and potential buyers will be impressed with how quickly the country has responded.

“Wirrabilla has a reputation for performance, however like most other regions has endured two seasons of below average rainfall. I hope the astute buyer will see through the frailties of the seasons and appreciate Wirrabilla for its production potential.”

Mr Birch said there has been solid interest from locals and Queenslanders seeking expansion and start-up blocks.

“Many people believe they can buy places at a level that might represent good value. Others are excited about the movement in the cattle market and are keen to secure a property before prices rise further,” he said.

Wirrabilla has a carrying capacity of 300 cows and calves and will be auctioned on March 13.

Roma’s Mt Lonsdale selling after more than 70 years

After 73 years of continuous ownership, Roma’s Mt Lonsdale is being offered to the market by retiring Bill and Cecily Douglas.

Situated 14km north Mungallalla and 150km west of Roma, the 8147ha holding (pictured at the top of this page) spans numerous beneficial land types including open black soil downs, heavier and loamy soils.

The combination of established buffel, Mitchell grass and newly developed country enable it to safely maintain a reasonable stocking rate through average seasons – around 1400 to 1500 adult equivalents.

The property is accredited to access the EU market and is watered by two sub-artesian bores and four dams

Agents, the Resolute Property Group, describe Mt Lonsdale as well developed with near new cattle yards, quality PMAV, blade ploughed, pulling and pelleted development areas, as well as an exclusion fence.

Handling the sale is Resolute Property Group’s Ben Forrest, who expects interest from a broad buyer market including family operators seeking a depot for their supply chain going into the Roma saleyards, and those looking to build scale.

Mt Lonsdale is being offered for sale via online auction ending on March 12.

Grass and rainfall feature at Woolooga’s Burnside

There’s been good interest in Burnside, a 1015ha block in a well-regarded cattle area, 220km north of Brisbane.

For the past 70 years, the block has been owned by three generations of the Portas family, with Brian Portas selling up so he can retire.

The property has reliable (1000mm) rainfall and is located 12 minutes north of Woolooga, with good access to cattle selling centres at Woolooga, Gympie, Biggenden, Kingaroy and Toogoolawah.

The country is flat to undulating land with a mix of quality blue gum alluvial flats (some of which have previously been cultivated) and iron bark ridges.

Burnside has access to the Munna Creek on one boundary, with Running, Cut Log and McLaren creeks running through the property, as well as many permanent waterholes and 25 dams.

In most years it can comfortably carry 340 breeders.

Lex Townsend from the Professionals at Gympie said interest has come from locals, the Sunshine Coast, Biloela and Emerald and even a bit further north. Most are chasing grass or reliable rainfall.

Predicting a price guide is tricky with few large landholdings coming to the market. Some inspections have been put on hold due to rain, with the public tender process closing on February 27.

Opportunity knocks on Mitchell’s Bonus Downs

Expressions of interest have now closed for Bonus Downs which was being offered as a rare development opportunity by TopX Australia.

Consisting of 13,380ha of mostly brigalow scrub country, Bonus Downs is located 50km south of Mitchell and 140km west of Roma.

Bonus Downs has a diverse range of country types both developed and undeveloped and offers potential for a variety of income sources including cattle, sheep, goats, tourism and carbon farming.

A solid tourism farm stay is currently being operated from Bonus Downs, with tours already booked in for the 2020 season.

Carl Warren from TopX said considering the season, there had been good interest from locals and investor groups.

The station features a grand five-bedroom Queenslander homestead built in 1911, which has been beautifully renovated and maintained.

Over the past week, Bonus Downs has received some good falls. It well watered by two artesian bores, nine dams, bores, tanks and troughs.

While the vendor estimates a conservative stocking rate of 1200 adult equivalents, the asset will be sold on a bare basis.

 

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