Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, February 12, 2020

Charters Towers’ Lancewood has a wide frontage to the Burdekin River providing permanent natural water for stock, irrigation and water harvesting purposes. It also has two water licenses totalling 2000ML, nine dams and a 200ML water storage area.

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

There’s been a strong start to the year in completed sales, especially in northern Australia where good rain has now fallen in many regions.

  • Making hay on Charters Towers’ Lancewood Station
  • Victorian family diversifies with $3.5m Broken Hill purchase
  • Biloela’s Springvale sells prior to auction
  • Central Tablelands’ Koolabah & Pine Elder achieve $6m

Making hay on Charters Towers’ Lancewood Station

A hay producer from Charters Towers has paid more than $5.5 million for North Queensland’s highly productive and versatile irrigation property, Lancewood.

The 1545ha mixed grazing and irrigated farming aggregation, pictured above, is located in a tightly held area on the Burdekin River, 115km from Townsville and 40km north of Charters Towers.

Its wide frontage to the Burdekin River provides permanent natural water supplies for stock, irrigation and water harvesting purposes.

It also has two water licenses totalling 2000ML, nine dams and a 200ML water storage area.

The carrying capacity under its current operation is 600 head, but those numbers could be lifted if the property was adapted to high-intensity grazing.

Earthworks have been carried out on Lancewood in anticipation of construction of an 1800 SCU feedlot and while there is suitable operator application (SOA) approval, the DA has lapsed and would need to be revisited.

The property was passed-in at auction in October for $5.5m and was sold in December for an undisclosed price to a local hay producer, planning to fully develop the farm.

The sale, which included a comprehensive list of modern plant and equipment, was handled by David Woodhouse from Landmark Harcourts.

Victorian family diversifies with Broken Hill purchase

The Skinner family from Western Victoria has snapped up the organically certified Paringa Station, 50km north of Broken Hill, at auction for $3.5 million ($141/ha).

The 24,809ha holding, located at Fowlers Gap, consist of two perpetual western land leases boasting exceptionally resilient country that quickly responds after rainfall.

Adam Chilcott from Elders said the successful buyers were a grazing and cropping family who are extremely pleased with the purchase as it enables them to diversify their asset holding.

Mr Chilcott said the productive and manageable station has been well improved since it was acquired by brothers Terry and Robin James in late 2008.

“Paringa is particularly resilient to weather patterns and remains in full production. Recent lambs turned off have commanded healthy prices and the quality of water catchments, bores and water flow through the station enables the land to both capture and respond well to rainfall events,” he said.

“The vendors have impressive infrastructure in good working condition and have continually updated the station during their custodianship.”

Paringa is watered by ten bores and eight dams and can carry 3600 ewes and 2100 lambs.

The 24,809ha Paringa, located at Fowlers Gap, consist of two perpetual western land leases boasting exceptionally resilient country that quickly responds after rainfall.

Biloela’s Springvale sells prior to auction

The family-owned Biloela property Springvale has been snapped prior to auction up by a Dalby producer chasing grass.

Springvale was scheduled for a March 6 auction, but the successful purchaser acted quickly after phenomenal interest from locals and those seeking a good starter-sized block.

Situated 32km from Biloela, Springvale has been held since 1981 by Scotty and Naomi Jensen who are downsizing.

The property lends itself to a wide range of uses – a combination of farming, leucaena, breeding or fattening.

Recently spelled, Springvale carries a good coverage of grass. The 1120ha of country consists of bottle tree scrub, black soil cultivation, heavy loam and iron bark forest country.

Springvale is watered by a dam, a bore and tanks and troughs, and can carry 350 mixed cattle in an average year.

Brad Mulvihill from TopX said the successful purchaser made a good offer that was acceptable to the vendor.

“The buyer didn’t pay a premium, but he did pay a price that the vendor was happy with. Springvale is really well-grassed at the moment and the buyer had recently sold up. He was chasing both feed and the location.”

Recently spelled, Springvale carries a good coverage of grass. The 1120ha of country consists of bottle tree scrub, black soil cultivation, heavy loam and iron bark forest country.

Central Tablelands’ Koolabah & Pine Elder achieve $6m

A producer from northern New South Wales has secured two adjoining cattle properties on the state’s Central Tablelands for around $6 million.

Located 18km from Orange, the picturesque and productive holdings are suitable for both cattle and sheep.

When the 229ha Koolabah and the complementary 153ha Pine Elder were offered separately at auction in late October by Webster Nolan, they were valued at between $3.75-$4m and $1.8-$2m respectively.

When they were passed-in, Koolabah achieved a $3.95m final offer, and Pine Elder, $1.95m.

Koolabah features heavy red, fertile basalt grazing and farming country that can carry 120 cows and calves. It is well-watered by two creeks, 11 dams, a bore and troughs.

Pine Elder has fertile basalt fattening and breeder country and is capable of running 70 cows and calves. It is watered by two creeks, six dams and troughs.

Selling agent David Nolan said the two properties, which are due to settle next month, will be used for breeding and fattening.

A producer from northern NSW has secured adjoining cattle properties Koolabah and Pine Elders on the state’s Central Tablelands for around $6 million.

Click here to access more property sales results

 

 

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