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.
- Scale & productivity in southern NSW could make $25m
- Cattle & carbon in FNQ
- NSW fattening country hits the market after 130 years
- $21m for CQ’s Alarm Creek
- Cooper Creek’s Currareva relisted for $235/ha
- Tightly held irrigation country returns to the market
- Offers over $5m for northern NSW cattle country
Scale & productivity in southern NSW could make $25m
Springbank in the highly regarded Southern Tablelands region of New South Wales is being offered to the market for the first time in 44 years by the Norman Family.
The large-scale and productive holding, spanning 1654ha of open arable country and rolling hills, is situated 20km from Yass and 87km from Canberra.
Sam Triggs from Inglis Rural Property said the property was of the highest calibre.
“Springbank should achieve between $23 million and $25 million and appeal to large local family operators, and cattle and sheep producers.”
Springbank was purchased in 1978 by the late David Norman who adopted biological farming methods and a soil improvement program to sustainably boost production. His investment also focused on ease of management.
Today, the property offers a livestock breeding platform suitable for wool, prime lambs and beef production that can conservatively carry 13,500 dry sheep equivalents.
A high percentage of Springbank is arable with 770ha established to perennial pastures (phalaris, cocksfoot, clover and lucerne) and 200ha sown to winter grazing crops (oats and brassicas).
Springbank boasts double frontage to Reedy Creek and single frontage to the Boorowa River and Crosby Creek. In addition, there are permanent waterholes, 35 catchment and spring-fed dams and two stock and domestic bores (one equipped with a solar pump).
Springbank is being offered for sale via an online auction on August 24.
Cattle & carbon in FNQ
There has been strong inquiry for the Far North Queensland cattle and carbon opportunity Bamboo Station.
After 15 years ownership, the 85,430ha property is being sold by Scott Browning so he can concentrate on his other business investments.
The breeding enterprise is currently running 1000 head – which are being offered as part of the sale. With further development, such as completing the boundary and internal fencing program, Bamboo is estimated to carry 5000 head.
Located 400km north-west of Mareeba and 470km north-west of Cairns, Bamboo is dissected by the Peninsula Development Road.
The country is undulating to hilly, but accessible, and is timbered with semi open to heavy stands of ironbark, bloodwood, ironwood, stringybark and yellow box flats.
It features a large body of natural tropical grasses and legumes and is watered by 50 permanent dams (mostly spring-fed) and a number of seasonal creeks.
Russell Wolff from Elders said Bamboo offered multiple income stream opportunities.
“Interest is coming from cattle producers and those attracted to the current carbon agreement which is based on a savanna fire management project. Others are looking for a multi-income stream asset, while city-based investors are seeking a tourism opportunity.”
Mr Wolff was unable to disclose a price guide for Bamboo, however the last significant property to change hands in the same region of FNQ was Bramwell Station in August last year. Also offering 1000 head of cattle and a carbon credit scheme (generating in excess of $150,000 per annum), it made $86/ha.
Bramwell is situated further north than Bamboo, so it will be interesting to see if it makes similar or more money. It could depend on how much value interested parties place on the carbon agreement.
Bamboo Station will be auctioned on August 24.
NSW fattening country hits the market after 130 years
After three generations spanning 130 years, the Teys family is selling their well-developed mixed farming enterprise, Forest Lodge in New South Wales north-west.
Located 17km south-west of Merah North and 31km west of Wee Waa, the 2085ha holding comprises mostly heavy self-mulching black soils with a good body of clover and dry grass.
Terry Adams from Moree Real Estate said for more than 100 years, Forest Lodge has produced award winning sheep and prime cattle.
“Natural grasses transfer weightgains into the fattening of livestock. The incoming purchaser has the option to establish high performance pastures to enhance the current livestock production,” he said.
Forest Lodge was running 550 cows before the vendor expanded the cultivation area to 765ha. Today the property is conservatively carrying 220 Angus cows and calves which will be made available to the successful purchaser.
The Gunidgera Creek runs through the middle of the property, with water also provided by six bores and five dams.
Forest Lodge will be auctioned on September 16.
$21m for CQ’s Alarm Creek
Central Queensland’s Alarm Creek has returned to the market with a $21 million price tag including 918 breeders and progeny, plant and equipment.
Owned since 1994 by well-known breeders Joyce and the late Des Dingle, the 4727ha property is situated about halfway between Mount Larcom and Calliope and 50km from Gladstone and can comfortably run 1000 cows.
Around 1700ha is well developed blue gum river flat country with areas of ponded pastures. The balance is mostly cleared, undulating forest country running into grass hollows.
The property fronts the Calliope River, Harper and Alarm Creeks. Water is also secured via a 100 megalitre water licence, 13 bores, dams and permanent lagoons.
Andrew McCallum from Nutrien Harcourts GDL said a property of this size and calibre seldom becomes available in this region.
“Alarm Creek is presenting a good body of feed on strong and healthy country in an area well regarded for its performance, capital appreciation and reliability,” he said.
Alarm Creek boasts secure water, conservative management and continuous development.
Cooper Creek’s Currareva relisted for $235/ha
Cooper Creek’s Currareva in Queensland’s central west has been relisted by Nutrien Harcourts GDL for $235/ha or $6.4 million.
The 26,985ha block, 18km east of Windorah and 230km west of Quilpie, failed to sell at a recent auction, passing in at $5.6 million.
The holding comprises a balance of flood-out Cooper Creek country, sweet stony gidgee, mulga and box flat ridges, and spinifex red sandy mulga country.
Vendor David Cross said the property was situated in drought resilient country, performing well during dry and wet seasons.
“Recent flooding means the country will grow an abundance of different grasses and herbages that will fatten cattle and carry through for the next 12 to 18 months,” he said.
Mr Cross said Currareva was experiencing an exceptional season.
“The country is the best you will ever see, and this is how it lends itself to dry times. The incoming purchaser will have two to three years feed depending on how it is managed.”
The property is also watered by five sub-artesian bores, three dams and a 13km frontage to the Cooper Creek. This stretch of water, which is more than 10m deep in parts, has never gone dry. Two 10,000MGL irrigation licences are included in the sale.
Currareva is running more than a thousand mixed cattle and the boundary fencing has been renewed in the last 10 years.
Tightly held irrigation country returns to the market
Tightly held country on Central Queensland’s Marian Weir near Mackay has returned to the market with a price tag of between $4 million and $5 million.
Despite attracting strong inquiry, the Marian Weir Irrigation Farm failed to sell via an expressions of interest campaign that closed in June. At the time, locals were anticipating it could make between $5 million and $8 million.
Located at Devereux Creek, the 200ha of fertile volcanic and alluvial soils can run up to 300 breeders.
Fronting the Pioneer River for 1.7km, the Marian Weir Irrigation Farm is also watered by a 353ML allocation and a three-phase pump site into high pressure underground mains and hydrants.
An area has been set aside for a large storage dam.
Gary Johns from Nutrien Harcourts said properties fronting the Marian Weir rarely come to the market.
“It is a unique opportunity to acquire productive irrigated pasture ideal for rotational grazing, cane, legume crops, orcharding or hay production.”
Mr Johns said the property also offered lifestyle and development potential.
“The Marian Weir ski club is situated close by. With the property held over six titles, the successful purchaser can realign the boundary into five river frontage blocks.”
Offers over $5m for northern NSW cattle country
Ellwood in the highly regarded beef cattle producing area of Garoo, in northern New South Wales, has returned to the market for offers over $5 million (representing $11,126/ha).
The 453ha property, 30 minutes south of Tamworth, once formed part of the historic Goonoo Goonoo Station.
Ellwood has the ability to breed or fatten stock. In the past, it has been run as a steer fattening operation and also as a Poll Hereford stud carrying 150 cows and calves, replacement heifers and bulls.
The soft and undulating open grazing country is currently carrying an abundance of quality feed, with the vendor paying careful attention to weed management and fertiliser application.
The headwaters of the Garoo and Wangarang Creeks are located on Ellwood, which is also watered by 21 dams and four bores.
The property is being marketed by Michael Burke from McGrath Upper Hunter.
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