IN WHAT is possibly a record for the Warwick/Killarney district in southern Queensland’s border region, showcase grazing property Mt Colliery Station made $10.25 million or $8193 per hectare under the auctioneer’s hammer on Friday.
The 1253ha of prime cattle country was bought by local business Wickham Cattle Co, which will operate the property as a beef enterprise. Wickham Cattle Co is a division of Wickham Farms, which operates diversified potato growing, transport and cattle interests across the region.
The impressive high-country property was placed on the market for the first time in 80 years via a Colliers International auction campaign on behalf of the respected cattleman, the late Pat Boyle, who operated a highly productive beef operation on the holding.
The listing attracted close to 200 inquiries and 20 inspections, with eight registered bidders lining up for Friday’s auction in Brisbane. Fourteeen bids were made on the day.
“Most of the interest was from property developers and cattle operators,” said Trenton Hindman from Colliers International, who marketed the property with Ben Forrest.
Mr Forrest said the result was a strong one for local land values, representing $8193 per hectare.
“This property has excellent prospects for capital gain with additional Capex and intensification of the grazing enterprise through a fertiliser program being able to lift the carrying capacity of the property,” he said.
Colliers’ latest Agribusiness Research and Forecast Report said demand for good quality grazing assets in higher rainfall areas should remain solid as the appetite for reliable beef production of both breeding and weightgain and finishing operations continues.
Mount Colliery Station is situated at Gambubal Road, Mount Colliery, about 100km from Brisbane and the Gold Coast.
The property features fertile rainforest and scrub soils, combined with prolific kikuyu and clover pastures which creates a highly productive beef operation. On average the property receives around 1250mm per annum, which is ideal for both summer and winter pastures.