Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, October 3, 2019

Queensland cattleman Bill Speed’s Brig-O-Doon Cattle Co has paid $20 million for 142,600ha Retreat Station, situated on the Barcoo River 50km from Jundah in the state’s central west.

THIS week’s property review includes this summary of recently completed sales of note, and a separate article on interesting recent listings.

  • Well known Qld producer secures Jundah’s Retreat
  • NSW’s Currabubula Station sells after auction
  • $6m buys Monash, near Comet
  • Expanding neighbours secure Blackall’s Melrose
  • CQ’s Granitevale passed-in, listed at $8.5m
  • SA’s Oakvale Station passed-in

Well known Qld producer secures Jundah’s Retreat

One of western Queensland’s premier pastoral holdings has been purchased by Bill Speed’s Brig-O-Doon Cattle Co for $20 million, including 2000 cattle.

Covering 142,600ha, Retreat Station is situated on the Barcoo River, 50km from Jundah and 220km southwest of Longreach.

The country, pictured above, comprises rich red and black soils along flood out channels, open downs and sand hills, coolibah and gidyea, with some areas of mulga.

Running 7500 adult equivalents, Retreat currently receives weaner cattle from northern holdings for backgrounding, as well as operating an on-farm breeding operation.

Trade cattle are fattened and sold between 450-600kg depending on seasonal conditions and market fluctuations.

The sheep herd, predominantly Merino cross for wool and meat production, represents a minor part of the operation with flock numbers maintained at 2000 ewes.

Since 2007, vendors the Ryan family have undertaken an extensive stock water development program to significantly improve grazing performance and pasture utilisation.

The water system is based on 19 bores connected to solar pumps and backed by a further 16 bores equipped with mills.

The Barcoo River also provides numerous permanent water holes and there are several large lakes which have been dammed to increase the water holding capacity.

The family, trading as Ryan Global, has indicated the sale of Retreat will help further develop its Far North Queensland operations – the 136,00ha Olive Vale and adjoining 160,000ha Koolburra Stations in the lower Peninsula region.

Retreat was offered for sale off-market by Geoff Warriner and Chris Holgar from JLL and Wally Cooper from Rural Property and Livestock.

Currabubula Station sells after auction

A Sydney-based Australian family has paid more than $8 million bare for one of northern New South Wales’ finest cattle and cropping properties.

At last week’s Ray White Rural auction, Currabubula Station reached $8m before it was passed in and later sold to the highest bidder for a higher figure.

The 2407ha blue-ribbon operation is positioned in the heart of the Liverpool Plains, 40km south-west of Tamworth, and is blessed by some of the best soils money can buy, ranging from friable grey and chocolate loams to areas of level red basalt and loams.

Currabubula is best suited to backgrounding or finishing, and cereal cropping – a range of cash and fodder crops such as barley, wheat, lucerne and forage sorghum.

It is supported by a 741ML water access licence and is complemented by 528ML storage dams.

The blue-ribbon assets include Pastoria – one of the original homesteads transformed into a premium function centre or Airbnb sleeping 20 people.

Given the natural topography and infrastructure, it has been suggested Currabubula Station could also be run as:

  • a cattle breeding enterprise selling off young weaners to the feedlot or store cattle markets.
  • a trade cattle enterprise sourcing young cattle to finish either on pasture and or grain assisted ration supplying local or export markets.
  • a self-replacing prime lamb or wool production enterprise.
  • a horse breeding or spelling enterprise being closely located to the major horse centres of Tamworth and the Hunter Valley.

It also lends itself favourably for future rural subdivision with frontage to two public roads. The current LEP for rural land permits 200ha minimum lots.

At last week’s Ray White Rural auction, Currabubula Station reached $8m before it was passed in and later sold to the highest bidder for a higher figure.

Monash achieves asking price

A Capella grazing and farming family has paid the $5.96 million asking price for the Central Highlands enterprise Monash.

Located 30km south of Comet and 75km south east of Emerald, Monash is located in a favourable rainfall belt and is watered by seven bores and six dams.

The 5627 hectares comprises diverse country types including brigalow, bonewood and softwood scrub soils, sandy loams and clay soils with box and gum timbers and tableland lighter soils to some timbered areas.

As a breeder operation, Monash can carry 600 head and as a backgrounding property it can run 1000 cattle.

It has been held for close to 20 years by Steve and Vicky Bottomley who have decided to downsize.

The sale was handled by Matt Beard from Landmark Harcourts, who explained that such properties were hard to come by.

“Listings are tight for any sized property in the Central Highlands. That has been the case for the last two years. Interest came mostly from local grazing families seeking a high-quality breeder block close to their fattening operations.”

A Capella grazing and farming family has paid the $5.96 million asking price for the Central Highlands enterprise Monash.

Expanding neighbours secure Blackall’s Melrose

Blackall (western Qld) property Melrose has sold to the neighbouring McDonald family for just over $3 million ($420/ha).

Located 65km north west of Blackall, the 7141ha block was passed in at auction two months ago.

New owners, Graham and Sue McDonald and their sons, Ben and Sam, from Albeni near Springsure, own the adjoining properties Avonleigh, Avondale and Moonbria.

Melrose is considered to be very sweet and capable of running any type of livestock.

It features a mix of country including open to shaded Mitchell grass pebbly downs, coolibah floodout, 8km of double frontage to the Barcoo River and a further 6km of double frontage to the Douglas Ponds Creek.

Around 930ha of stock route traverses the property.

Vendor, Bill Cripps, is downsizing after 30 years of ownership.

The marketing of Melrose was handled by Elders agent Des Cuffe.

Blackall (western Qld) property Melrose has sold to the neighbouring McDonald family for just over $3 million ($420/ha).

NQ’s Granitevale passed-in, listed privately at $8.5m

North Queensland’s Granitevale Station has been given an $8.5 million price tag, after failing to sell at auction recently.

The 6878ha property was expected to achieve between $8m and $10m due to its wide-ranging appeal.

Located 30 minutes from Townsville, Granitevale is suited to beef breeding, backgrounding or fattening, as well as stud applications. It can comfortably carry 2000 breeders.

Comprising undulating ridges and open forest grazing, it opens out onto larger, flatter and gently undulating country.

Situated above the Ross River Dam, Granitevale is drained by a number of secondary creeks, plus Central and Banana Creeks, all of which run into the nearby Ross River.

The water security provides the potential to irrigate hay or forage production or develop high density grazing with leucaena or Rhodes grass.

Due to its seven freehold titles, it could also be land-banked for future development.

Granitevale Station is being marketed by Gary Johns from Landmark Harcourts Mackay and Peter MacPherson from Ruralco.

North Qld’s Granitevale Station has been given an $8.5m price tag, after failing to sell at auction recently.

SA’s Oakvale Station passed-in

Scott and Kaylene Loader’s Oakvale Station in South Australia’s rangeland region also failed to sell at auction last week, being passed-in on a vendor’s bid of $3.7 million.

The 77,181ha grazing property is centrally located 200km from Burra, 160km from Renmark and 190km from Broken Hill in New South Wales.

The country is a productive balance of blue bush with a mix of black oak, mulga and cassia. A feature is the major water courses, natural lakes and swamp catchment areas, clovers and grass in season.

Oakvale also features flood areas and lake systems in season and is watered by 17 dams, two equipped bores and 60km of poly pipe to tanks and troughs.

The station is ideally suited to sheep breeding or cattle, as well as mustering feral goats. While it has a pastoral board rating of 8000 sheep, it is currently conservatively stocked with 3500 ewes plus 2000 weaners and lambs.

The sale of Oakvale is being handled by Marty Deacon from Elders Mildura.

Scott and Kaylene Loader’s Oakvale Station in South Australia’s rangeland region also failed to sell at auction last week, being passed-in on a vendor’s bid of $3.7m.

 

Click here to access more property sales results

 

 

 

 

HAVE YOUR SAY

Your email address will not be published. Required fields are marked *

Your comment will not appear until it has been moderated.
Contributions that contravene our Comments Policy will not be published.

Comments

Get Property news headlines emailed to you -
FREE!