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.
- Domestic appetite for NT’s Mt Doreen
- $30m for Central Australia’s Neutral Junction
- Opportunity knocks at WA’s La Grange Farm
- High rainfall NSW country could make $33m-$38m
- Eastleigh attracts Sydney investors
- Local inquiry for Muttaburra backgrounding
- Fattening on historic NSW fattening block
Domestic appetite for NT’s Mt Doreen
Domestics are showing the strongest interest in one of the largest Certified Organic cattle stations in Central Australia.
The 7337sq km Mt Doreen, established in 1932 by William and Doreen Braitling, is located on the Tanami Road (linking the Kimberley region to Central Australia), around 380km north west of Alice Springs.
Jesse Manuel and Rawdon Briggs from Colliers Agribusiness have been appointed to handle the walk-in, walk-out expressions of interest sale.
Mr Manuel said pastoral land values in the region have been achieving well in excess of $2000 per adult equivalent.
“The strong demand from large private pastoralists, institutional investors and many high net-worth individuals has had a significant impact on cattle property sales over the past year,” he said.
Boasting quality and economies of scale, Mt Doreen sits in a market of its own and should attract a premium price.
“The interest has been diverse. Inquiry is coming from northern Australian pastoralists looking to access domestic and premium organic markets, intensive operators from eastern states seeking scale, and high net worth individuals attracted to the scenery on offer.”
While Mr Manuel was unable to comment on price, Mt Doreen is likely to make more than $46 million on a bare basis, excluding livestock, plant and equipment.
Over recent years, the Braitling family has made a significant investment into livestock watering points, with the transition to solar bores and steel header tanks now more than 80 percent complete.
The country on Mt Doreen is generally open and flat to gently undulating, consisting of red earth mulga plains, alluvial plains and creek systems, sand plains, scattered alluvial basins and claypans.
It is interspersed with areas of spectacularly formed ranges that provide run-off water feeding into creek systems and broader flood-outs.
Mt Doreen consistently carries up to 23,000 adult equivalents, but with responsive herbage and diversified land and creek systems, the breeder block is capable of running well over 30,000 head of cattle after heavy rain events.
Included in the sale are more than 18,000 head of mixed age, branded cattle (a Poll Hereford herd with Droughtmaster, Santa Gertrudis and Angus influence), however the number of cleanskins is also believed to be significant.
The EOI campaign for Mt Doreen closes on April 12.
$30m for Central Australia’s Neutral Junction
There has been strong local and Queensland interest in a large-scale turn-key beef breeding and farming opportunity in Central Australia that could make around $30 million.
The 460,900ha Neutral Junction is situated in the Davenport region, 300km north of Alice Springs and 150km south of Tennant Creek, on the cusp of the northern Alice Springs district and the southern point of the Barkly Tablelands.
Around 100km of the Stuart Highway runs through the centre of the property providing reliable all-season access.
For the past 20 years, Neutral Junction has been owned by Charlie and Liz Frith who operate three backgrounding properties in Queensland – Uabba at Morven and Glen Arden and Glen Hope at Roma.
Established in 1907 and grazed since 1884, Neutral Junction is being sold with 7000 head of Droughtmaster cross, Ultrablack and Santa cattle, including 4150 breeders and around 120 bulls.
The property is watered by 25 equipped stock bores, 20 water tanks, 10 turkey nests and five dams.
Neutral Junction also operates a successful hay farm currently growing 120ha of reclaimer Rhodes grass under two pivots. The property also has strong potential for diversification with cropping.
The property holds a 1654ml underground water extraction licence, and the owners recently applied for an additional 6415ml that is yet to be granted.
Additional income is generated from the general store and the power and water contracts which service the local community.
Olivia Thompson from Nutrien Harcourts Katherine is offering Neutral Junction for sale by international expressions of interest closing on March 4.
Opportunity knocks at WA’s La Grange Farm
Damian and Kirsty Forshaw have re-listed La Grange Farm in Western Australia’s Kimberley region with expectations north of $8.5 million.
In August 2019, the couple offered 3097ha to further develop their adjoining country, Nita Downs.
After failing to sell, they secured environmental approvals for 250ha of immediate irrigation development using five 50ha centre pivot irrigators with a surrounding buffer zone.
A diversification permit which currently allows for fodder production can also be amended to include other uses such as horticulture, aquaculture and silviculture.
The current 2627ha sale also includes access to a six gigalitre ground water licence.
Located 210km south of Broome and 400km north of Port Hedland, La Grange is in a blue tongue disease-free zone, close to key logistic depots and ports.
It is situated in one of the key economic development regions of the Kimberley identified by the Western Australian Department of Primary Industries and Regional Development for its groundwater and land assets.
Danny Thomas from LAWD said La Grange would suit a significant fodder irrigation project, with the high-quality soils and climate also making it suitable for horticulture.
He said the strategic location and enormous development opportunities offered by La Grange Farm are attracting good early interest.
While he would not be drawn on prospective buyers, some think the Pardoo Beef Corporation could certainly be an interested party.
The 200,000ha Pardoo Station, 160km east of Port Hedland in the Pilbara region of Western Australia, forms the centre of the company’s irrigated cattle operations, underpinning its strategy to develop a world-class Pilbara Wagyu herd.
La Grange Farm is being offered for sale via expressions of interest with Land Agribusiness Water and Development closing on April 7.
High rainfall NSW country could make $33m-$38m
A well-located, large-scale cattle and sheep enterprise in New South Wales’ Southern Tablelands has been listed with a price guide of $33 to $38 million.
The adjoining Girrakool and North Pomeroy span 2393ha in high rainfall country (800mm), 20 minutes from Goulburn and Crookwell.
Girrakool was purchased in 1999 by Robert Rich, a former deputy chairman of Argo Investments. He added the neighbouring North Pomeroy to the holding in 2006, and is selling to retire.
David Nolan from Webster Nolan said Girrakool and North Pomeroy tick all the boxes.
“The property boasts outstanding management, pastures, soils, fertiliser history, water, fencing and livestock (that are not included in the sale). The interest has been enormous – from existing landholders and from Sydney and Melbourne investors.”
For the last 20 years, the aggregation has been managed by Luke and Leah Whitehead who are available to stay on subject to negotiations with the new owner.
Girrakool and North Pomeroy range from flats, along the Wollondilly River and Kiala and Oxley Creeks, through to undulating and rolling grazing country featuring productive and versatile soils.
Around 70 percent of the property has been pasture improved and is running 1000 cows and calves plus replacement heifers. It is equally suited and equipped to run sheep.
Winter grazing wheat is being grown and used as supplementary feed, and then locked up and cut for silage and hay.
Water is a major feature with 10km of double frontage to Wollondilly River, double frontage to Kiala and Oxley Creeks, 54 dams and two bores.
Girrakool and North Pomeroy are being offered for expressions of interest closing on April 11 by David Nolan of Webster Nolan and Roger Bushell Real Estate.
The aggregation is being sold with plant and equipment. The successful buyer will be given an opportunity to purchase the 900 females and 700 mixed sex weaners.
Eastleigh attracts Sydney investors
Meantime, David Nolan is offering the 520ha grazing block Eastleigh, also located in the Southern Tablelands, for between $6 million and $7 million bare.
Situated at Golspie, 20 minutes from Laggan and 25 minutes from Crookwell, Eastleigh is attracting strong inquiry due to its proximity to Sydney (just under 3 hours).
The property boasts picturesque and undulating protected eastern fall country in an 800mm rainfall region.
Eastleigh features fertile and productive pasture improved country currently running 3200 ewes and lambs, and 90 cows and calves.
Water is secured by the Blade of Grass Creek, 18 dams and a bore.
Eastleigh will be auctioned on April 12.
Local inquiry for Muttaburra backgrounding
Central, northern and western Queensland producers seeking additional backgrounding country are showing strong interest in Des and Ineke McDowall’s Dotswood.
The McDowalls have owned the 9304ha block, 50km north of Muttaburra in Queensland’s central west, for four years and are selling due to an asset restructure.
The country is predominantly black soil Mitchell and Flinders grass downs supporting a good body of feed that can run around 1000 backgrounders.
Tom McLeish from TopX Australia said Dotswood has had a good start to the 2022 wet season.
“The country is presenting in a fresh healthy condition with plenty of grass to run normal numbers. However, with further rain it will bounce away,” he said.
The property is watered by five dams and an artesian bore servicing around 40km of bore drain that fills numerous waterholes.
The Dotswood Bore also provides water to two neighbouring properties via poly pipe.
Dotswood will be auctioned on April 6 bare of livestock, but with basic plant and equipment.
Fattening capacity on historic NSW block
One of the Manning River’s most respected rural properties will be auctioned on March 18 by Ray White Rural.
Located 20 minutes from Wingham or 3.5 hours north of Sydney, Somerset was settled by the Andrews family more than 150 years ago.
The 893ha property features more than 5km of Manning River frontage, highly productive alluvial river flats and undulating grazing country.
For the past 20 years, the Wallace family from Khatambuhl, north of Gloucester, has been using Somerset to fatten around 350 steers annually.
Selling agent Rob Chapman said Somerset provides a scale of economy seldom found in the region.
“There are endless opportunities for agricultural and lifestyle pursuits, including beef or dairy farming, or growing high yielding crops and silage on the fertile river flats.”
Water is secured by a permanent 92ml Manning River irrigation licence and 13 dams.