THIS week’s property review includes this wrap-up of interesting recent listings in Tasmania, Queensland and northern New South Wales, a separate story on recent listings in southern and central parts of NSW and an article of recently completed sales.
- Tasmania’s largest farm returns to the market
- Tightly held Gulf breeding country lists
- Two stations on offer in far north-west NSW
Tasmania’s largest farm returns to the market
Tasmania’s largest farm has returned to the market with industry sources suggesting it could make north of $100 million.
Situated in the state’s far north-east and spanning 21,744ha, Rushy Lagoon is a grazing and irrigated and dryland cropping opportunity.
It comprises two contiguous properties – 20,523ha Rushy Lagoon and 1221ha East Wyambi.
Offered for sale in March 2018 by the late Allan Pye, one of New Zealand’s richest farmers, Rushy Lagoon was anticipated to make $70 million but was subsequently withdrawn following an extensive expressions of interest campaign.
The diversified farming enterprise is conducive to a range of agricultural pursuits including dairy, sheep, beef and cropping (potatoes, cereals, poppies, hemp, carrot seed, oilseed and legumes).
Currently, an area of 1170ha is developed to irrigation (centre pivot), there is a 693ha irrigated dairy platform offering significant scope for expansion and an estimated carrying capacity of 85,000 Dry Sheep Equivalents.
LAWD agents Danny Thomas and RMS Advisory agents Peter Ryan and Jarrod Ryan have been appointed to handle the sale.
Mr Ryan said further investment in pasture improvement, irrigation, paddock planning and stock water systems would significantly increase sheep and cattle numbers.
Mr Thomas said potential future income streams include lease payments from a proposed wind farm development, sand mining royalties and carbon offset payments.
Rushy Lagoon receives an average rainfall of 750mm a year and benefits from substantial water entitlements (12,548ML) and on-farm water storages (3935ML) and a permit to construct an additional 2500ML dam.
Infrastructure includes a 20-stand shearing shed.
Rushy Lagoon and East Wyambi are being offered for sale as a whole or as separate assets by expressions of interest closing on November 1.
Tightly held Gulf breeding country lists
After 20 years of ownership, a New South Wales-based family is consolidating its assets and selling its Queensland Gulf breeding country with an approved carbon project.
Situated in the tightly held Burke Shire, the 235,932ha Bowthorn Station border the NT border and is 70km from Doomadgee and 170km west of Burketown. It adjoins Lawn Hill to the east and Turnoff Lagoons to the north.
The turn-key operation is being offered on a walk-in walk-out basis, including 6053 breeders and followers and 143 bulls plus an extensive list of plant and equipment.
Ray White’s Liam Kirkwood and Brodie & Co’s Sam Daniels have been appointed to handle the sale of Bowthorn.
The leasehold country ranges from red to sandy loam with areas of seca stylo and buffel, as well as spinifex hills.
A reliable average rainfall of 714mm per annum grows a good body of grass for a carrying capacity of 7500 breeders.
There is potential to increase numbers with further development.
Ray White property specialist Liam Kirkwood said Bowthorn ticked a lot of boxes and was attracting good inquiry from carbon players, private investors and family groups.
“It represents a compelling investment opportunity for producers seeking a large-scale breeder property to supply weaners into finishing country or those considering carbon credits available through the approved HIR project.”
“In addition, someone may look to further develop the virgin country to increase carrying capacity and the overall value of the asset, or to run a combined livestock production and tourism business,” Mr Kirkwood said.
The property is watered by multiple year-round natural watercourses, including the Nicholson River, 30 waterholes, 27 dams, 14 bores and numerous creeks and springs.
Infrastructure includes a four-bedroom home, two cottages, an eight-bedroom workers quarters, numerous sheds and six steel cattle yards.
Bowthorn Station is for sale by expressions of interest closing on October 23.
Two stations on offer in far north-west NSW
Broken Hill-based Nutrien Harcourts agent Troy Hartman is marketing two stations in the far north-west of New South Wales.
Tarakan Station
Broken Hill’s Allison House, which until recently provided accommodation for high school students from isolated properties, is selling Tarakan Station.
The 40,469ha holding is situated in the Corner Country, 50km from Tibooburra and 380km from Broken Hill.
Mr Hartman was unable to provide a price guide for Tarakan however, in July 2022, the nearby 67,955ha Lake Stewart Station made $80/ha ($32.50/ac).
The property features a thriving rangeland grazing enterprise which has operated as a low-maintenance cattle breeding operation for the past 20 years.
Mr Hartman said the well-established business model has proven to be both sustainable and efficient, allowing for the effective management of cattle in a natural environment.
The diverse and picturesque landscape comprises a mix of undulating ironstone and sandy ridges, and creeks lined with majestic gum trees.
There is a good body of feed after good rain over the last 12 months, including cannonball, copper burr, woolly butt, saltbush, blue bush and Mitchell grass.
The seven dams are described as a standout feature, supported by a 5000-gallon tank and 226mm of average annual rainfall.
Infrastructure includes an unequipped wool shed and cattle yards.
Registrations of interest for Tarakan close on November 12.
Mulga Valley Station
Meantime, locals wanting to expand and South Australian producers seeking geographic diversity to add to their existing portfolios are showing good interest in Paul and Jane Martin’s Mulga Valley Station.
The 16,576ha are located near Broughams Gate, 120km from Broken Hill, west of the Barrier Ranges and east of the South Australian border fence.
Mr Hartman was unable to provide a price guide for Mulga Valley however, neighbouring country recently sold for $76/ac.
Recently, the Martins undertook considerable improvements to fencing and livestock handling facilities to develop the property into an easily managed dorper breeding enterprise.
Mulga Valley has a diverse mix of native pastures, including Mitchell grass and salt bush, covering undulating sandy rises and box swamps along localised flood out areas.
Water is provided by three bores (two equipped), a substantial dam and numerous tanks.
It is being offered for sale by registration of interest closing on October 15.
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