THIS week’s property review includes this wrap-up of interesting recent listings across the country, and a separate article about recently completed sales of note.
- $55m+ for Mackenzie River district aggregation
- Neighbouring Victorian dairy farms for grazing
- Record price tipped for Injune grazing block
- Highly productive northern NSW holding
- Spring water harvesting farm on offer
$55m+ for Mackenzie River district aggregation
Interest from local and institutional capital is anticipated for the 28,000ha Kaiuroo Aggregation in Central Queensland’s highly regarded Mackenzie River district.
Located 220km west of Rockhampton in the Fitzroy River Basin, the operation (pictured above) comprises four neighbouring holdings – 5889ha Kaiuroo, 4528ha Coreen, 3636ha Eskfield and 17,914ha Yambuk.
Kaiuroo supports a diverse production system including Certified Organic beef for international and domestic markets, genetically evaluated Grey and Red Brahman commercial and seedstock herds, a large scale irrigation system and irrigated and dryland crops.
Tom Russo from Elders said the four properties complemented each other.
“The breeding and finishing operations benefit from excellent home-grown grain, forage and cotton crops. The cropping area includes 1650ha with organic certification, of which 917ha is irrigated,” he said.
Sitting in a high rainfall zone, Kaiuroo boasts rich alluvial Mackenzie River flood plains that rise to brigalow soils on Coreen to the north, and tableland forest country on Yambuk to the south.
Over the last four years, the aggregation has carried between 4000 and 7400 head of cattle.
Over the last five years, the owners, New York based The Rohatyn Group (a multi-strategy investment firm) has invested heavily in irrigation infrastructure.
A linked irrigation system allows tailwater to be reused at both Kaiuroo and Coreen, while eight different storage sites make for efficient yet low-risk water infrastructure.
The property also holds 11,000 megalitres in irrigation water entitlements. It has two major pump sites on the Mackenzie River, with additional sites on Lake Mary and Lake Meredith.
Andrew Williams from Elders Warwick said the aggregation was ideally suited to either owner operators or investors wishing to outsource management.
While the agents would not be drawn on a price, expectations are believed to be in excess of $55m excluding livestock.
Expressions of interest close on August 6.
Neighbouring Victorian dairy farms for grazing
Two neighbouring properties in high rainfall dairy country in south west Victoria are anticipated to make between $18 million and $20 million.
The 647ha Karrara Farms and the 409ha Acacia Dairy are situated at Ecklin South, 30 minutes from Warrnambool, in a reliable, high rainfall, premier dairying region.
The adjoining country provides expansion opportunities for the existing dairy enterprises, or for producers seeking a larger holding for beef, sheep and/or fodder production (see last week’s property review article on the trend in land use conversion).
Rob Rickard from Elders said combined, it was the largest parcel of land ever offered south of the Princes Highway in the district.
Mr Rickard has been inundated with inquiry from beef and sheep producers in New South Wales, South Australia and all parts of Victoria.
“Interstate interest is rare. It is unusual to find a holding of this size because most properties in the district would average 200ha.”
The 1055ha property is well watered and features improved pastures and productive fertile soils running between 20,000 and 25,000 DSE.
For the past five years, a New Zealander has owned Acacia Dairy, while the Logan family, who have held Karrara Farms since the 1930s, are selling due to succession planning.
Expressions of interest for Acacia Dairy and Karrara Farms close on June 24. The properties are likely to sell for between $17,000/ha and $19,000/ha or around $700/DSE.
Record price tipped for Injune grazing block
A scenic 435ha block described as some of Injune’s finest country is likely to set a new district record.
Owned by David and Kate Gordon, Nick’s Paddock is located 25km south west of Injune, in southern Queensland’s Maranoa region.
Growing an abundance of buffel, the block offers the incoming purchaser the versatility of operating a fattening, breeding or trading enterprise.
Carl Warren from TopX Australia said the tightly-held country will be strongly contested by neighbours and locals.
“It is one of the premier blocks in Injune, which is known for being safe and reliable year in year out. Prices are untested for country of this quality and size,” he said.
Prices for country around Roma can vary, with southern prices achieving $1700/ha to $2500/ha and country north of Roma typically making between $3700/ha and $5000/ha.
Nick’s Paddock is well watered with a new share bore currently being equipped and two dams. New exclusion fence is being erected on the western and northern boundaries, while the remaining boundary fence is all barb and netting.
Nick’s paddock will be auctioned on July 15.
Highly productive northern NSW holding
There has been strong local and interstate interest in a 200ha highly productive grazing property in northern New South Wales.
West Urandangie, 8km south of Guyra and 34km north of Armidale, ranges from undulating hills to black soil cropping flats which have been historically irrigated for the production of fodder crops.
Boasting fertile basalt soils and perennial pastures, it has a strong fertiliser history and is well set up to achieve high levels of grazing production per hectare.
It can carry 160 breeding cows or between 2500 and 3000 dry sheep equivalents.
Cayne Moar from Ray White Rural said for some interested parties, West Urandangie would be a bolt-on acquisition.
There is an abundance of natural water reserves including two main spring fed storage dams and a 68 megalitre irrigation licence.
West Urandangie will be auctioned on July 8.
Spring water harvesting farm on offer
JLL’s Jock Grimshaw has been appointed to sell the Yarra Valley Spring Water Farm in Victoria, a 64-hectare landholding on Reserve Road, Don Valley with a spring water production facility that is being offered to market via private negotiation.
The picturesque landholding is supported by a 50 megalitre water entitlement, authorising the extraction of spring water from the Mount Donna Buang and Mount Toolebewong Ranges for the supply of bulk and bottled water.
Mr Grimshaw said the property represented a unique opportunity to acquire a picturesque landholding with scope to activate and further develop a substantial spring water business, or alternatively purchase an ideal rural lifestyle destination close to several nearby attractions and the Melbourne CBD.
“To facilitate the harvesting and processing of natural spring water, substantial capital investment has been made into developing the production and storage facilities,” he said.
“Understanding that water is a significant feature, the property has been carefully developed to accommodate a range of potential production capabilities.”
“The property represents a substantial business opportunity to capitalise on the combination of a high-quality water supply, existing infrastructure and the reputation of the Yarra Valley, as it provides an unrivalled platform to establish a spring water operation,” Mr Grimshaw said.