Property

Two Qld properties sell for $36.5m, $22.5m to close-out 2019 property sales year

Jon Condon, December 20, 2019

TWO prominent Queensland grazing properties have sold separately for $36.5 million and $22.5 million this week, in the final instalment of northern cattle property sales for 2019.

North of Charters Towers, extensive breeding property Dozey, near Greenvale, has been bought by the Australian Department of Defence to extend an area to be used for military exercises, under the Australia-Singapore Military Training Initiative.

The $36.5 million deal was bare of stock, and will provide cattle access for several years to the vendors until it is re-purposed for military use. The sale price represented a land value of about $370/ha, or $150/ac bare.

The deal was negotiated privately between vendor, Charters Towers cattleman Jack Mann and the DoD, with no agency involvement. Negotiations extended over a considerable period, Beef Central understands.

Dozey was originally a portion of the enormous Wandovale lease held by Shipfield Pastoral Co, and before that, Queensland Stations. Wandovale was subdivided into four or five smaller portions under a scheme mapped-out by Townsville agent Tim mMcHugh with adjoining graziers around 1998, of which Dozey was the largest, at about 97,000ha (240,000 ac). History shows the Mann family originally paid $1.8 million for Dozey, back in 1998.

Dozey will be added to a number of other adjoining grazing land acquisitions made by the DoD earlier, including Pandanus, Wade, Vee Nee and Lucky Creek Stations.

A mixture of good quality basalt and granite country, Dozey has run 6000-8000 breeders plus followers, depending on seasons.

The Mann family, based at Lochwall near Charters Towers, purchased breeding properties Myrrlumbing and Somerset west of Charters Towers last year in the first stage of transition off Dozey.

The new Department of Defence military training area near Greenvale will join an existing defence training area further south, near Shoalwater Bay in Central Queensland. Under the Australia-Singapore Military Training Initiative, Singapore will invest $2.25 billion in the overall training program, with up to 14,000 Singapore armed forces personnel training in Queensland when the initiative reaches maturity.

Taroom’s Deearne sells at auction for $22.5m

Meanwhile in a second large Queensland property deal finalised this week, the well regarded 7120ha Dawson Valley grazing property Deearne, between Taroom and Wandoan sold at a Ray White Rural auction this week for $22.5 million.

Cattle on Deearne, between Taroom and Wandoan

Buyers were Sid and Tricia Godwin, Godwin Grazing Co, Tanderra Station, Springsure.

There were ten registered bidders at the auction, mostly local and Central Queensland grazing families. The sale price represented a value of about $3150/ha or $1280/ac.

Located 60km from Taroom and 80km from Wandoan, Deearne is a rolling term lease, primarily brigalow and soft wood scrub soils growing excellent stands of buffel grass. There are also some areas of lighter soils, also established to buffel.

The pre-sale listing suggested an estimated carrying capacity of 2500 adult equivalents, with the majority of country blade ploughed and established with buffel grass during the past 15 years.

The property is divided into 18 paddocks plus an extensive laneway system.

Deearne is well watered with 16 dams including a 350 megalitre overland catchment dam, and seven bores. Solar pumps provide water to tanks and troughs as well as the homestead.

Jez McNamara and Bruce Douglas from White Rural Queensland handled the marketing, under the instructions of receivers and managers Worrells.

 

  • Beef Central’s popular Weekly Property Reviews will return towards the end of January. In the meantime, readers can access our searchable summaries of recent property sales and recent property listings across Australia via the highlighted links.

 

 

 

 

 

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