Properties sold: Meeleebee Downs, Queensland

In what is regarded as the biggest grazing transaction in Queensland this year, Beef Central can reveal that the West family from nearby Wallumbilla has paid more than $63 million (bare) for the central portion of Meeleebee Downs in southern Queensland.

The 10,285ha holding, pictured above, formed part of a bigger aggregation that also consists of the 7959ha Clifford and 5924ha Slate Hill, purchased and aggregated by the Freeman family between 1975 and 1977.

Listed in January by LAWD agents Danny Thomas and Elizabeth Doyle, the portfolio of three properties was anticipated to raise more than $140 million.

New owners Gordon and Sally West and family operate Westmoor Pastoral based out of Wallumbilla, with other country south of Roma and at Dundonnell in the Arcadia Valley. The family recently sold 6200ha Geddesvale in the Wandoan district in an off-market deal worth a reported $28 million.

With the recent transaction of Meeleebee Downs, Clifford and Slate Hill remain available for separate sale. Beef Central understands an option has been  taken on the Clifford portion.

Located on the southern slopes of the Carnarvon Ranges, the 24,168ha Meeleebee Downs is 65km north-east of Roma and 65km south-west of Taroom, close to the Roma saleyards and a network of cattle feedlots and beef processors in south-east Queensland.

Across the aggregation, the buffel grass breeding, backgrounding and finishing asset has been conservatively running 3000 breeders but was offered with an estimated carrying capacity of 9500 adult equivalents or 1AE per 2.5ha.

The Freemans had undertaken significant development during their 50 years of ownership, resulting in the establishment of one of the most well-regarded holdings in the district.

During the marketing campaign, Mr Thomas described Meeleebee Downs as highly developed.

“It has undergone significant transformation focusing on water infrastructure and reliability, improved pastures and extensive fencing, and there is the considerable ‘set and forget’ income from Origin Energy’s gas wells,” he said.

The predominantly undulating downs country has improved brigalow/belah scrub, poplar box on duplex soils, brigalow with blackbutt and poplar box on alluvial plains. It is growing extensive improved pastures of mainly buffel and Rhodes grass, as well as native grasses and seasonal medics.

Meeleebee Downs (Central) is watered by two equipped bores that tap into the Sandstone Precipice, a major aquifer in the Surat Basin, dams, numerous water points within a 1km radius and three natural watercourses, supported by an average annual rainfall of 560mm.

Infrastructure includes a communication tower, two sets of cattle yards and a shed.

Beyond its cattle operations, Meeleebee Downs receives additional income from 22 Origin Energy gas wells.

Condah Hills, Victoria makes $20.895m

In Victoria’s Western District, a blue-ribbon portfolio offered by Allan Myers and family has transacted for $20.895 million.

In April, Dunkeld Pastoral, owned by the prominent barrister, businessman and philanthropist, listed the 1208ha Condah Hills Aggregation, comprising the 1083ha Condah Hills and the neighbouring 125ha Condah Dairy, south of Hamilton and 30 minutes from Portland.

Purchased in 2018 for $13.5m, Condah Hills had been extensively developed into a production powerhouse with exceptional backgrounding and finishing capabilities. It was sold as part of a long-term consolidation strategy by the company.

The drought-resilient, large-scale grazing and irrigation enterprise with first-class infrastructure is capable of supporting a wide range of livestock and mixed farming enterprises.

A standout feature is the irrigation, with around 80ha under two centre pivots growing sorghum for feeding out over the summer and winter, with scope for further development.

A systematic pasture improvement program had been undertaken, with around 80 to 90 percent of paddocks renovated over the past six years complemented by consistent annual fertiliser application and a pasture management regime.

Condah Hills is underpinned by secure water entitlements totalling 1155ML. With the improvements valued at around $1m and the water at around $1.15m, the bare price sits around $15,520/ha.

Infrastructure includes three homes, a 1000 head feedlot, a weighbridge, centralised laneway system, numerous sheds and close to 2000 tonnes of grain storage.

JLL Agribusiness agents Jock Grimshaw and Chris Lawlor handled the sale.

A standout feature on Condah Hills is the irrigation, with around 80ha under two centre pivots growing sorghum for feeding out over the summer and winter, with scope for further development.

Properties for sale:

Spring Grove Aggregation, Victoria

Five generations of Smith family ownership will end with the sale of the Spring Grove Aggregation in Central Victoria.

The 1935ha farming and grazing enterprise is located near Yarrawalla, 80km north of Bendigo, and is being offered to the market for the first time in more than 140 years.

Historically, the property runs around 2000 ewes and lambs, with numbers increased under current management.

Under a long-term fertiliser program and agronomic management, the aggregation typically produces winter crops and fodder, with current rotations including canola, wheat, barley, oats, lupins and vetch.

Indicative yield performance shows more than 3t/ha for dryland grain and 2t/ha for dryland canola, with the 778ha irrigated areas achieving around 6t/ha for grain and 3t/ha for canola.

The Spring Grove Aggregation is watered by an extensive network of dams, troughs and tanks, supported by 375mm of average annual rainfall.

The aggregation can be purchased as a whole or separately for between $9400/ha ($3800/ac) to $9900/ha ($4000/ac). The five holdings are:

• 471ha Spring Grove is divided into six main paddocks with water supplied by six dams. Infrastructure includes a three-bedroom home, a three-stand shearing shed, two sheep yards, numerous sheds and 670-tonnes of grain storage.
• 248ha Bungawitta has four paddocks and is watered by two dams. Infrastructure includes a four-bedroom home, steel cattle yards and a shed.
• 388ha Chynes comprises six main paddocks. It has a plantation of WA Yate and gum trees, alongside separate irrigated and dryland pastures. Water is provided by the Waranga Channel backbone irrigation, with 30ha under laser irrigation. Infrastructure includes steel sheep yards.
• 615ha Simons/Miles/Holts has six paddocks and is serviced by six dams with channel-fill security. Around 506ha are under laser irrigation.
• 182ha Kidmans includes two paddocks with fertile soils and Serpentine Creek frontage. The property is suited to canola, wheat, barley, oats, vetch, and lucerne, with a layout that supports both cropping and livestock rotation.

Elders agents Oliver Boyd and Nick Myer are handling the sale.

Green Yards, Queensland

The Gunthorpe family is seeking $6.85 million for its backgrounding and finishing country in Central Queensland, with a registered carbon sequestration project.

The 1385ha Green Yards is situated in the Banana region, 29km north-east of Theodore and 150km south-west of Rockhampton and is offered with an estimated carrying capacity of 550 Adult Equivalents.

The country comprises 350ha of developed brigalow/softwood scrub, 835ha of downs/shaded forest and 200ha of harder forest ridges.

A mix of black self-mulching and deep brown cracking clay soils is growing dense buffel stands, Queensland blue grass and green panic, with some seasonal herbages and legumes.

Green Yards is offered with a registered soil carbon sequestration project, with potential to generate up to 4091 ACCUs annually. To date, two projects have produced 9000 ACCUs.

Green Yards has 4km of dual frontage to Lonesome Creek and is watered by four equipped bores and three dams, in a 618mm average rainfall area.

The only infrastructure is a set of steel cattle yards.

Green Yards is being offered for sale as a whole or as two separate assets. LAWD agent Alex Horan is handling the sale.