THIS week’s property review includes this wrap-up of interesting recent listings across the Northern Territory and New South Wales, and separate articles on listings in Queensland, plus recently completed sales.

• NT’s Blackbull returns to the market
• Top End cropping & live export potential
• Reduced price for Casino’s Avoca Farms

NT’s Blackbull returns to the market

One of the Northern Territory’s first major dryland cotton development acquisitions has returned to the market, with Australian Agricultural Growth Partners listing Blackbull Station for sale.

The 14,342ha cotton and cattle operation is located 10km from Douglas Daly, 115km north of Katherine and 180km south of Darwin.

The freehold asset, underpinned by secure groundwater access, is expected to attract offers above $35 million.

The aggregation comprises two freehold holdings – the 9400ha Theyona and the 4942ha Blackbull – and is positioned close to the Katherine cotton gin and the Port of Darwin.

Australian Agricultural Growth Partners purchased the property in June 2022 for about $30 million. Although the anticipated investment term was six to eight years, the asset is being offered after four years of ownership.

Moree-based Customised Farm Management has overseen the ongoing dryland cotton development program.

Situated in a district receiving average annual rainfall of 1239mm, a key factor for cotton production, Blackbull features quality clay loam and sandy soils.

The property includes 188ha of centre pivot irrigation, 4400ha of dryland cropping, 1210ha of additional arable land, 41ha planted to leucaena and 8500ha of grazing country.

Under its intensive cropping program, Blackbull is estimated to carry 2000 Adult Equivalents, with scope to substantially increase capacity through the development of a cut-and-carry feeding operation.

It is currently running 1000 head of cattle, with the successful purchaser given the option to acquire the property’s Brahman-cross herd.

LAWD agent Olivia Thompson said significant capital investment by the current owners had created a highly versatile operation.

“It provides buyers with the flexibility to pursue a range of production systems – from intensive irrigated cropping and fodder production through to integrated cattle enterprises.”

Ms Thompson said the quality of the existing development, combined with further expansion potential, makes Blackbull a compelling opportunity.

“Strong interest is anticipated throughout the campaign, with several parties already expressing off-market interest prior to the launch.”

“Properties offering this combination of scale, secure water, existing development and operational flexibility are tightly held and rarely come to market, which should resonate with a broad range of producers and investors,” Ms Thompson said.

Blackbull has 14km of Daly River frontage and access to the Oolloo Dolostone, one of the Top End’s highest-yielding aquifer systems, with annual extraction capacity of 8517ML.

Two equipped irrigation bores supply water to four centre pivots, each covering 47ha. A further two bores have been drilled and capped for potential future irrigation development. Another eight equipped bores provide secure livestock water.

Infrastructure includes a homestead, manager’s accommodation, staff accommodation, multiple sheds, horse stables and portable cattle yards.

Blackbull Station is being offered for sale by expressions of interest closing on August 13.

Grey and Red Brahmans on Blaclbull

Top End cropping & live export potential

An emerging dryland cropping and live export opportunity in the Northern Territory’s Adelaide River region has returned to the market through Elders, carrying a price guide of $4.8 million to $5.3 million.

The 3000ha Victoria Downs sits on the Stuart Highway near Robin Falls, 166km from the cotton gin near Katherine and 108km south of the Port of Darwin.

The holding is currently being operated commercially for hay, with further scope to expand fodder production as well as cattle breeding or backgrounding.

Its well-drained, gently undulating country is considered a low erosion risk and features yellow and red earths, along with sandy red and yellow soils suited to improved pastures and fodder production.

Victorian business partners Leigh Isai and Steve Parker bought the freehold block in 2022 after it was carved off Mount Bundy Station.

Seeing the property as a blank canvas, the pair upgraded the fencing before engaging a land and water consultant to assess the country and its development potential.

The initial development plan identified more than 730ha suitable for improved pasture and hay production, with the 2026 cavalcade crop now completed.

No yields have been disclosed, although Top End hay properties in the region typically produce about 8t to 10t per hectare.

When Victoria Downs was listed in March last year, Mr Isai told Beef Central the sale included advanced land management technology.

“A LiDAR-based digital twin model allows for precise planning, operational efficiency and a proactive approach to land management – beneficial for future development and ongoing land management.”

Water is supplied by an equipped bore and supported by average annual rainfall of 1504mm.

Infrastructure is limited to a two-bedroom demountable.

For buyers seeking additional scale, a neighbouring 509ha freehold block is also available.

Listed by Tom Hayman for $1.8m, the adjoining block is being offered with 100 Brahman breeders.

It comprises undulating red-soil hills and open native grassy flats that have been managed to maintain a consistent body of feed year-round.

Water is provided by a bore and two creeks – one permanent and fed by natural springs, the other semi-permanent.

The block is divided into two main paddocks and two reinforced holding paddocks suited to cattle and buffalo, with infrastructure including a two-bedroom home and cattle yards.

Elders agent Alison Ross, who is handling both sales, said the combined 3500ha package offers hay production potential, a small starter breeder herd, secure water and accommodation.

“With the live export market strengthening, these well-located and well-developed properties would complement larger breeder operations.”

Country on Victoria Downs

Reduced price for Casino’s Avoca Farms

Avoca Vale Farms has returned to the market with a reduced price guide of $23.5m following the recent passing of Frank Hannigan, Northern Rivers solicitor and former chairman of the Casino Food Company, owner and operator of the Casino Meat Works.

Spanning 1562ha, the breeding and finishing country is 10km west of Casino and 40km from Lismore. The property is being reoffered as a whole or in separate parcels starting from $1.15m.

Assembled and developed over four generations or 120 years, the contiguous holding features rich heavy basalt, alluvial and loam soils. More than 70 percent is considered arable and sown to high performance sub-tropical pastures.

Meares & Associates agent Sam Meares said Avoca Vale should appeal to cattle producers seeking location, scale and on-farm security.

“The Hannigan family has worked tirelessly to select, aggregate, improve, develop and conservatively operate a remarkable holding with an excellent risk mitigation profile for others to benefit from in the future.”

Originally home of the Franco Hereford stud, which operated from the 1980s until the final dispersal sale in 2023, the heavy carrying capacity country can run 1250 to 1500 cows or 25,000 to 28,000DSEs.

Situated in a 1070mm annual rainfall region, Avoca Vale Farms is watered by 25 dams, creeks, bores, the Diamond D lagoon (a well-known permanent spring fed water source) and an associated 82ML water licence for contingency purposes that also offers the incoming purchaser irrigation potential.

Infrastructure includes a four-bedroom home, three cottages, five cattle yards (including a sales complex), 11 supplementary feeding yards, numerous sheds, a feed mill and silos with a 300-tonne capacity.

Hereford cattle on Avoca Vale