RECENT rainfall across previously parched areas of Central Western Queensland is expected to underpin buyer interest in extensive Longreach cattle property Vergemont, which has been listed for sale this week through expressions of interest.
With more than 150mm of highly unseasonal rain since June, marketing agent Geoff Warriner from CBRE Agribusiness said the vendors had chosen the perfect time to seek interest in the 352,590ha holding.
Indicative of the property’s high standing, past owners of Vergemont have included the North Australian Pastoral Co and beef industry identities including the Logan family.
Mr Warriner said each successive owner has made their mark on the holding, with development work ranging from clearing and improvement of gidyee scrub, to significant fencing and road improvements.
The current owners have continued the tradition, with particular focus on building dams, new yards and other major property improvements including nine successful bores drilled in the past few years to further mitigate the risk of drought and spread grazing pressure.
With more than 200,000ha currently developed for stock, and ample scope for further improvement to increase carrying capacity, Vergemont is currently rated to hold up to 10,000 head of cattle.
It is being offered by the vendors with 2000 head.
Land types are predominantly Gidgea scrub and soft Mulga to Channel flats along Vergemont Creek.
Mr Warriner said the property represented value to producers looking for a 10,000 head plus operation, with quality cleared and improved gidyea land types backed by productive channels and associated alluvial flats.
The benefits of these land types on the property were twofold – channel flood outs could occur with rainfall many kilometres to the north, and the mulga on the property provided a feed reserve in dry times.
He expects that the property’s size and versatility of production types will generate a significant level of buyer interest.
“Vergemont can be utilised for both fattening and breeding, with the Vergemont channel systems regarded as some of the best finishing pastures in Western Queensland,” Mr Warriner said.
“The ability to breed and grow stock in excess of 10,000 head in relatively inexpensive country types allows producers scale and security of numbers. Over the past four years, and the worst drought the region has seen in many years, the block has consistently run more than 4500 head – testament to the fodder types and the quality of the operation.”
The highest benefits were derived from seasonal flooding thought the channels, which allowed Vergemont to enjoy green pasture at times when rain has not fallen on the property itself.
Explosion in cattle prices
Conjunctional agent Wally Cooper of Western Livestock said the timing was perfect to explore the property market with the listing, with current seasonal relief and flooding comparable to the 1974 flood event, coupled with strong commodity prices.
“Cattle prices have exploded since recent widespread rainfall events, and optimism from the market is following suit,” Mr Cooper said.
“Strong cattle prices brought on by a strong restocker market, and a falling national herd is expected to continue for some time yet. Buying property with stock included is of far greater value now than ever,” he said.
- Vergemont is being offered via an expressions of interest campaign closing 28 September. Agents are CBRE Agribuisness (Geoff Warriner) and Western Livestock (Wally Cooper).
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