Property

Weekly property review: Quality listings starting to re-emerge

Property editor Linda Rowley, 23/08/2017

The historic 154,000ha Beltana Station, in South Australia’s picturesque Flinders Ranges, 500km north of Adelaide, is about to hit the market

 

AFTER a period of time where grazing listings of any significance have been few and far between due to drying conditions across large parts of eastern Australia, some interesting assets are starting to come to market.

Listed further down in this week’s report is a cross section of some recent listings of note.

In terms of recent property sale outcomes, the 27,600ha North Queensland breeder property Pallamana Station was passed in at auction last week for $4.3 million, and has since been listed privately for $4.6 million with 600 good quality Brahman breeders according to selling agent David Buckley from Ray White Rural. RWR is understood to be negotiating with an interested investor.

Located 100km south of Charters Towers and 230km south-west of Townsville, the property comprises 25,500ha of grazing country and a 1930ha mine lease, and is enjoying an excellent season, with a good body of feed.

Soils range from dark grey loams to fertile black soil flats and channels, with red and grey ridges interspersed throughout the property. Improved pastures include verano and seca stylo, Indian couch, areas of buffel, urochloa and many palatable species of native grasses.

The property is well watered with 17 large open dams and features substantial improvements including fencing, laneways and cattle yards.

Historically, Pallamana has run 2500 breeders, but Mr Buckley said more recently, the property had been lightly stocked.

Pallamana Station was passed in at auction last week for $4.3 million, and has since been listed privately for $4.6m, with 600 good quality Brahman breeders

Recent property listings – New South Wales

Ray White Rural and Coonamble-based Halcroft & Bennett believe the offering of the 5495ha Nebea Station in NSW’s Central West, is a once in a 100-year opportunity.

The mixed farming property has been owned by the Lampe family since 1914, with David and Vicky Lampe the third-generation operators.

The Lampes have consistently run 550 Angus breeders, but believe with further farming development the property could conservatively run up to 2000 backgrounder cattle.

Located 18km from Coonamble and 163km from Dubbo, Nebea offers a good balance of beneficial flooded country from Nebea Creek and a mix of grey chocolate clay and red sandy loam soils.

Selling agents Bruce Douglas and David Thompson said 485ha is currently cultivated, but there is potential for further development. Nebea is being auctioned on September 29.

5495ha Nebea Station in NSW’s Central West, is being auctioned on September 9.

 

There’s been strong interest in the Murrumbidgee’s 1327ha Carraman Station, situated in the heart of NSW’s Riverina region.

Geoff Palmer from Ray White Rural Wagga Wagga said in the first week of marketing, there have been 15 inspections.

“There has been state-wide enquiry from investors looking for a return on capital, and existing livestock operators looking to expand and capitalise on the buoyant market,” he said.

Mr Palmer said limited supply was driving enquiry.

“If you look around the wider Riverina, there are no grazing properties available for sale. This is a scalable property. The retiring vendor estimates the carrying capacity at 380 cows. Finding those sort of properties is difficult.”

Carraman Station is a mixed farming operation, 8km east of Narrandera and 65km west of Wagga Wagga, boasting productive river country transitioning through to areas of soft undulating soils. Breeding, finishing and grain production are the pillars of the current management approach.

“This property shows undeniable growth in production and promise for the future, with proposed additional development by way of its 9km of Murrumbidgee River and 7km Bundidgerry Creek frontages and existing ground water entitlements,” Mr Palmer said.

Carraman Station will be auctioned on September 15. With neighbouring sales ranging from $2500-$3500/ha ($1000-$1400/ac), the property should achieve well above $3 million.

There have been 15 inspections of the Murrumbidgee’s 1327ha Carraman Station, situated in the heart of NSW’s Riverina region, in the first week since it was listed

 

The 480ha productive grazing property Bellbrook, located 20km from the Northern Tablelands city of Armidale, is another property being auctioned by Ray White Rural.

Guyra-based Andrew Starr expects Bellbrook’s proximity to Armidale will be a drawcard.

“It could be someone looking to relocate or a local looking to expand their portfolio.”

He described the property as versatile and highly productive, suiting a range of breeding or fattening enterprises, running around 5500 DSE.

“Bellbrook rises to over 1100m above sea level where the fertile soils roll from basalt caps and plateaux to traprock soils on the lower country. It is well watered with frontage to the reliable Toms Gully creek. The property has a solid fertiliser history and has benefited from an ongoing pasture improvement program,” he said.

Bellbrook will be auctioned on September 29.

Bellbrook, near Armidale, is a versatile and highly productive property, suiting a range of breeding or fattening enterprises, running around 5500 DSE.

 

There’s been strong interest from local graziers, as well as rice growers, in the River Murray grazing properties Merran Vale and Cooinda Park at Barham in southern NSW.

The neighbouring properties are being sold by Ivan and Ann Chandler so they can retire after a lifetime on the land.

The 1143ha aggregation boasts black self-mulching country to red rises and lighter red country. It runs a Poll Hereford (150 cows and calves) and a 2000 head Border Leicester stud in conjunction with a Merino sheep grazing operation.

In addition to the freehold country, there is 100ha under perpetual lease and a further 1456ha of river country forest held under an annual state forest lease, which Ruralco Property selling agent Andrew Miller said offers valuable grazing, particularly in dry seasons.

“It is a once-in-a-generation opportunity to buy a large holding with substantial water resources and improvements. It has double frontage to the permanent Merran Creek and a 774 megalitres NSW general water sale entitlement, which will be offered to the successful purchaser at market value.”

Mr Miller expects the new owners will be an agribusiness investment or diversification, or a strong farming family acquiring a unique large holding with unlimited potential in a strong, well-held district.

Merran Vale and Cooinda Park is likely to achieve between $2000 and $2500/ha. They will be sold under the hammer on September 07.

The 1143ha Murray River aggregation Merran Vale and Cooinda Park, near Barham in southern NSW represents an opportunity to buy a large holding with substantial water resources and improvements.

 

One of the last remaining large pastoral holdings close to Sydney has been listed by Richard Royle from Colliers International.

The 1696ha Native Dog Station, located in the tightly held Oberon district of New South Wales’ Central Highlands, is being offered for sale via an expressions of interest campaign.

Mr Royle described Native Dog Station as a superior quality rural asset.

It combines a large-scale agricultural enterprise, lifestyle property and high rainfall (840mm). It is conveniently located within three hours of Sydney and 15 minutes to Oberon.

“Native Dog Station is a highly productive and efficient property with above industry standard joining rates and efficient labour inputs, with a 20,000 DSE carrying capacity,” he said.

Mr Royle said the property is also acknowledged for its high fertility rates, consistently topping livestock markets and is commended by numerous downstream processors for delivering superior metrics.

“The long history of improved pastures, fertiliser application and seasonal fodder crops enable the property to maintain its breeding herd and the option of adding trade stock.”

The 1696ha Native Dog Station, located in the tightly held Oberon district of New South Wales’ Central Highlands, is being offered for sale via an expressions of interest campaign

 

Recent property listings – South Australia

The historic Beltana Station, located in South Australia’s picturesque Flinders Ranges, 500km north of Adelaide, is about to hit the market and will be auctioned by Elders Real Estate.

Selling agent Philip Keen says the property, stretching across 154,000ha, is a good mixture of land types – from range country to undulating bush country, through to soft sand-hill cattle country.

It is steeped in history dating back to 1855 with strong ties to Robert Barr-Smith and Sir Thomas Elder.

Beltana Station’s rich history includes expeditions made by Ernest Giles, as well as the importation of camels by Sir Thomas Elder into South Australia which enabled remote areas of Australia to be explored along with transport that assisted with the overland telegraph line.

In 1869 Sir Thomas Elder and Samuel Stuckey formed a transport company, operating between Port Augusta and his most remote northern station, Lake Hope, with 30 donkeys and 100 camels.

Today, Beltana operates as a fully working sheep and cattle station, offering a variety of accommodation, a café and restaurant.

Having been owned by the Ragless family since 2001, Beltana is now being sold as part of succession planning. The Ragless’s will remain on the neighbouring Puttapa Station, which they have held for four generations.

Mr Keen said Beltana has well-developed stock water points, extensive plant and equipment, a quality 700 head Angus cattle herd and a 6000 head Dorper sheep flock.

“It is an exceptional opportunity for buyers who have serious interest in investing in a diverse, well improved pastoral enterprise.”

Beltana Station is being auctioned on October 18.

The historic 154,000ha Beltana Station,in South Australia’s picturesque Flinders Ranges, 500km north of Adelaide, is about to hit the market

 

Angus cattle and centre pivot irrigation are a feature of the 3567ha Weeroona Group of Properties at Keith, in south-eastern South Australia.

Comprising 1734ha Dark Island, 535ha Landfall, 521ha Glocester, 491ha Condowie and 285ha Newlyn, the aggregation is being offered by Elders as a whole walk-in walk-out, or as five separate contingent titles.

Selling agent Mike Lind said the Weeroona group of properties represented an excellent opportunity to acquire a large aggregation of versatile country.

“It has a huge 2660 meg water licence and boasts three income streams from the substantial area of irrigation producing lucerne hay and lucerne seed and quality 546 head Angus breeding herd, with potential for further growth,” he said.

Expressions of Interest for the Weeroona Group of Properties close on October 4.

Angus cattle and centre pivot irrigation are a feature of the 3567ha Weeroona Group of Properties at Keith, in south-eastern South Australia.

 

 

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