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

• $70m+ for Qld’s Gattonvale
• Kemp family pays $20m+ for NQ’s Marathon
• Chinese offload Monaro Grazing Portfolio
• Fostoria Fannon sells Upper Hunter’s Balarang Station
• Condamine River fattening country makes $9.55m

The 31,474ha Gattonvale Holding, located 32km from Collinsville and 144km from Bowen, was sold by the Cox family after 62 years of ownership.

$70m+ for Qld’s Gattonvale

A Queensland-based family is believed to have paid in excess of $70 million walk-in walk-out for standout breeding and finishing country in the Whitsunday region of North Queensland.

The 31,474ha Gattonvale Holding, located 32km from Collinsville and 144km from Bowen, was sold by the Cox family after 62 years of ownership.

Shepherdson & Boyd agent Mike Barry was unable to disclose the buyer or the price paid, but said the sale reflected the current market for quality, well maintained cattle properties.

Conservatively carrying 7500SCU, the WIWO sale included 4900 Santa Gertrudis cattle including 1900 breeders and followers.

When Gattonvale was offered to the market in June, it generated considerable early interest, with Mr Barry emailing information memorandums to 35 prospective buyers and scheduling seven inspections in just one week.

Mr Barry told Beef Central the holding was renowned for breeding and finishing prime bullocks and cull cows.

“This financial year, 656 prime bullocks (397kg average dressed weight) and 156 prime cull cows (313kg) have been sold to Borthwicks Mackay, with most bullocks grading for the premium grass-fed Nature’s Fresh specifications. A further 270 prime bullocks will leave for Borthwicks on July 24,” he said.

Gattonvale has more than 16,000ha of heavy, self-mulching brigalow scrub soils carrying abundant feed, 8500ha of narrow leaf ironbark and gum top box, 2400ha of heavily grassed downs country, 2400ha of river country with alluvial soils and 2000ha of mountainous range country.

It boasts frontages to Bowen River and the Bowen River Weir. Water is also secured by a 35ML allocation from Newlands Mine pipeline, five bores (three are equipped), 20 dams and several seasonal watercourses.

Infrastructure includes three homes, workers quarters, three cattle yards, numerous sheds and 300 tonnes of molasses storage.

Kemp family pays $20m+ for NQ’s Marathon

The Richmond-based Kemp family has secured a North Queensland breeding, backgrounding and finishing operation with direct access to the Flinders River.

The 19,248ha Marathon is located north of the tick line, 40km east of Richmond and 70km west of Hughenden. The sale ends more than 50 years of ownership by the Ievers family.

Stockplace Marketing agent Luke Westaway was unable to disclose the price paid but said Marathon received strong market value for the district.

Hughenden properties Barragunda and Moonby Stations have been recently offered to the market for close to $1000/ha ($400/ac), which suggests Marathon achieved north of $20 million on a bare basis, plus 1000 head of cattle.

The Kemp family owns and manages the Lotus Park feedlot near Nebo, finishing Wagyu. It is understood Marathon will be used as a backgrounding block for the operation.

Marathon offers highly regarded Flinders River grazing capable of running 3900 adult equivalents.

The heavy carrying capacity country has around 10,000ha of fertile river flats, 3100ha of black basalt tableland and 5000ha of undulating black soil downs.

Marathon is benefitted by more than 20km of double frontage to the Flinders River, supported by numerous water courses including the Walkers, Sloans and Codfish Creeks, four bores and two dams.

Infrastructure includes a five-bedroom home, a cottage, numerous sheds, a shearing shed and cattle yards.

Chinese offload Monaro Grazing Portfolio

Chinese retail giant Dashang Group has offloaded a premium grazing portfolio in the Monaro region of southern New South Wales for in excess of the $18 million price guide.

Aggregated over 14 years and spanning 4366ha, the portfolio comprises three properties – 2269ha Biggam and the neighbouring 321ha Tara near Rocky Plain, and the 1775ha Worongah near Jimenbuen, 82km away or around 1.5 hours by car.

Late last year, the Monaro Grazing Portfolio was offered to the market by the Dashang Group looking to take advantage of strong buyer demand.

Colliers Agribusiness agent Rawdon Briggs was unable to disclose the price paid or the buyer, but said the portfolio was purchased by an Australian investor.

The three holdings are used for sheep and beef production with an estimated carrying capacity of 16,000DSE.

• Biggam has been extensively developed for grazing with improved and native pastures, several spring fed dams and quality fencing. Improvements include a three-bedroom home, shearers’ quarters, steel cattle yards, a six-stand shearing shed, sheep yards and several sheds.
• Tara has bitumen road frontage and quality fencing with water supplied by spring fed dams. Improvements include a three-bedroom home, a machinery shed, a workshop and steel cattle yards.
• Worongah has 6km of Snowy River frontage and Matong Creek frontage and comprises gently undulating open and timbered country with productive soils. Improvements include a three-bedroom home, a two-stand shearing shed, sheep yards and a machinery shed.

Chinese retail giant Dashang Group has offloaded a premium grazing portfolio in the Monaro region of southern New South Wales for in excess of the $18 million price guide.

Fostoria Fannon sells Upper Hunter’s Balarang Station

A Sydney investor is expanding with one of the 10 largest holdings in New South Wales’ Upper Hunter.

The 5810ha Balarang Station, north-east of Scone, is bookended by the notable Waverley and Timor Stations and neighbours the 2122ha Fernleigh featured in this week’s properties for sale section.

Since the late 1990s, Balarang has been used as a cattle trading enterprise using regenerative practices by Sydney-based investment company Fostoria Fannon.

McGrath Upper Hunter agent Michael Burke, who handled the off-market transaction, was unable to disclose the price paid or the buyer but said it was one of the biggest properties transacted in the Timor district in the last two decades.

“Balarang Station exchanged last month and is due to settle shortly, with the purchaser being a Sydney-based investor with existing grazing interests in the Upper Hunter,” he said.

In May last year, Fostoria Fannon sold the 1976ha Crawney Station, 15km north of Balarang Station, to a local producer with existing grazing interests for between $10.2m and $11.4m, with the money directed at further developing the working infrastructure on Balarang Station.

The 5810ha Balarang Station, north-east of Scone, is bookended by the notable Waverley and Timor Stations and neighbours the 2122ha Fernleigh featured in this week’s properties for sale section.

Condamine River finishing country makes $9.55m

A southern Queensland based grazing family has paid $9.55 million for Condamine River finishing country.

The 986ha Moriah, 18km south-east of Chinchilla and 84km west of Dalby, was being sold by Steve and Esmae Taylor after 25 years of ownership.

Nutrien Harcourts agent Darryl Langton was unable to disclose the name of the family but said Moriah was purchased to run steers.

Fully cleared, developed and established to heavy carrying, high weightgain improved pastures, Moriah is rated to run 400AE.

Moriah is watered by three dams and a reticulated, solar powered water system (with remote monitoring) from a permanent lagoon and the Condamine River.

Infrastructure includes an immaculately presented four-bedroom home, two sheds and two cattle yards.

Cattle on Moriah