Property

Weekly property review: Recent sales of note

Property editor Linda Rowley, September 11, 2019

The Price family (Moongool Charolais) from Yuleba in southern Queensland  has paid more than $10 million for Charleville’s historic Gowrie Station.

THIS week’s property review includes a wrap up of recently completed sales, and a separate article on interesting recent listings across the country.

  • Historic Gowrie makes more than $10m
  • Riverina’s Cooloon is carved up
  • Post auction: Mount Falcon on the market for more than $13.5m

Historic Gowrie makes more than $10m

The Price family (Moongool Charolais) from Yuleba in southern Queensland  has paid more than $10 million for Charleville’s historic Gowrie Station.

Located 20km north of Charleville in south west Queensland, the 29,204ha property, pictured above, is suitable for breeding, backgrounding and fattening.

Gowrie was established in 1864 by Gordon and Flood. It originally spanned 776,996ha and stretched on both sides of the Warrego, from Wyandra to Augathella.

For the past 38 years, it has been owned by Noel and Jill Mobbs who until recently ran the largest Simbrah stud in Australia.

The property is watered by four bores, 35km of polypipe to tanks and 50 troughs, two turkey nests and 17 dams.

Secure boundary fencing stretches for 90km and of that, 60km has been renewed in the last 10 years.

Gowrie is estimated to carry 3000 breeders and followers.

When it went to an expressions of interest campaign at the end of June, the property was carrying a substantial body of high quality standing buffel grass, herbage and low mulga.

The marketing and sale of Gowrie Station were handled by Elders agents Keith Richardson and Tom Russo.

Riverina’s Cooloon is carved up

The 616ha lamb and beef finishing platform Cooloon in New South Wales’ eastern Riverina has been broken up, with a Sydney couple paying $3.5million for 452 hectares ($7743/ha).

The property, which was put to an expressions of interest campaign by CBRE, is located 5km west of Wantabadgery or 36km east of Wagga Wagga.

Cooloon has a history of carrying 7500DSE supported by improved pastures, lucerne and fodder crops and underpinned by a comprehensive fertiliser program.

The country consists of creek flats rising through gently undulating arable slopes to rolling hills.

The Keating family from Jugiong had made a significant investment in water infrastructure through an extensive reticulation system supplied from a bore and permanent spring.

Philip and Belinda O’Connell who have offloaded country at Tumut to trade up, will continue to run Cooloon as a grazing enterprise.

The 164ha balance is about to be marketed by CBRE, asking $1 million.

Cooloon has a history of carrying 7500DSE supported by improved pastures, lucerne and fodder crops and underpinned by a comprehensive fertiliser program.

Properties passed in:

Mount Falcon on the market for more than $13.5m

Colliers International and Inglis Rural Property are currently negotiating with a number of interested parties after Mount Falcon Station failed to sell at auction.

Located in the tightly held and picturesque Upper Murray region of south eastern New South Wales, Mount Falcon was passed in at auction on a bid of $13.2m.

The 2887h property, located 18km south of Tooma and 153km north east of Albury-Wodonga, has had an excellent season with consistent rainfall throughout the autumn and winter months.

Mount Falcon is being offloaded due to a restructure by Chinese group Union Agriculture which owns another four rural assets in New South Wales.

The property is renowned for its quality livestock, extensive pasture improvement, first-class stock facilities and management.

The country has rich red granite soils that consist of slightly undulating slopes with some low hill country, leading to Taylors Creek with higher plateau and steeper country to the east.

Water is supplied by three permanent creeks and a newly sunk bore that pumps to two new poly tanks reticulating to concrete troughs.

The property has two major laneway systems and has been extensively fenced, with over 50km of new or replaced fencing in the last seven years.

Mount Falcon has been conservatively stocked with an estimated carrying capacity of 20,000 to 23,000 DSE and is currently running 1000 Angus breeding cows.

There are multiple opportunities to add to the already established beef enterprise through a combination of prime lamb, wool, dairy, silage or hay production.

The property was expected to sell for between $15m and $20m, however it is now likely to transact in the range of $13.5m to $15m.

Mount Falcon is being offloaded due to a restructure by Chinese group Union Agriculture which owns another four rural assets in New South Wales.

 

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