THIS week’s property review includes this wrap up of recently completed sales and a separate item on new property listings and a holding that failed to sell at auction which is now listed for private sale.

• $150m for massive Ray Scott portfolio
• CPC secures neighbouring Isaac River cattle country
• SA’s Wilkatana Station makes $7.4m
• Coddington country fails to sell

In total, the seven properties in the Ray Scott Pastoral portfolio covered more than 100,000ha from St George in the state’s south to Charters Towers in the north.

CENTRAL Queensland families have paid well in excess of $150 million for a sweep of grazing properties spanning some of the most productive areas of the state.

In May, the Mt Gambier-based Scott family announced it was selling its productive vertically integrated Queensland beef assets totalling 107,000ha in area, dubbed ‘The Ray Scott Pastoral Co Portfolio.’

Acquired over several generations and strategically expanded over the last 20 years, the aggregation features geographic and climate diversity, with access to live export, feedlots and beef processing.

In total, the seven properties extended from St George in the state’s south to Charters Towers in the north.

All were described as high quality, productive assets extensively pasture improved and offering beef breeding and finishing and extensive dryland farming.

Elders farmland agency and investments general manager Mark Barber said the offering attracted good interest, particularly from locals, with the majority of buyers neighbours or near neighbours.

“The prices were strong and reflective of confidence in the current cattle market,” he said.

Three Central Queensland properties sold under the hammer at auction. Located in the renowned Bauhinia district, they offered some of the most fertile country in Queensland.

• The Dennis family from Twin Hills Cattle Co secured the 10,522ha Fairfield and the adjoining 2299ha Ellis Camp for around $62 million. Separately, the Dennis family paid $49 million ($4657/ha bare) for Fairfield and a figure believed to be around $12 million ($5219/ha) to $13m ($5654/ha) for Ellis Camp, after it passed in at auction at $10.7m ($4654/ha).
• Nearby landholders Rob and Annie Donoghue paid $26.1 million ($8063/ha) for the 3237ha Kurrajong Park.
• Stewart, Stephanie and Tom Nobbs, Yoman Brahmans, Bauhinia paid $12 million ($4952/ha) for the 2423ha Wongaburra.
• Theodore’s Cameron McIntyre secured the 1911ha Hatari that passed in at auction at $12 million. Shortly afterwards, he is believed to have paid significantly above the reserve.

More recently, a western Queensland family group paid more than $36 million for the 5369ha Carramar (also part of the Fairfield aggregation, which passed in at auction at $22.5m or $4191/ha) and the 2496ha Bauhinia Downs (which passed in at $13.4m or $5368/ha).

Elders’ Mark Barber told Beef Central the three remaining breeding properties offering development opportunities were in the late stages of negotiation and should be under contract by Christmas. The include:

• 10,526ha Ingaby, situated on the Balonne River near St George, is a backgrounding property with centre pivot irrigation for fodder or finishing.
• 59,517ha Carse O Gowrie Station, a breeding property on the banks of the Burdekin River near Ravenswood in North Queensland.
• 8907ha Echo Hills Station near Surat.

CPC secures neighbouring Isaac River cattle country

As reported earlier on Beef Central Consolidated Pastoral Co has added some of Central Queensland’s best brigalow scrub country to its portfolio, subject to Foreign Investment Review Board approval.

The 9547ha Hillcrest is situated 53km east of Middlemount and neighbours CPC’s esistint  Langley Station – which it purchased in February last year for $17m with cattle, plant and equipment, and Jimarney, bought a year earlier for $47.5m.

Offered by the Danastas family after 25 years of ownership, Hillcrest was sold through Nutrien Harcourts GDL on a walk-in walk-out basis after passing in at auction for $31.6m. Sources other than the marketing agents confirmed the price at $33.

The prime Isaac River cattle country offers breeding, backgrounding or finishing and around 3000 head of mixed cattle.

Included in the sale were 1800 head of Red Brahman cattle (breeders, replacement heifers, weaners and bulls), as well as basic machinery.

CPC CEO and director Troy Setter said Hillcrest will be integrated into the neighbouring Jimarndy and Langley Stations, and managed by the existing management team.

“High quality brigalow and bauhinia scrub country boasting scale and black soil river flats rarely comes onto the market, making Hillcrest an important strategic addition to CPC.”

“As the company continues to achieve increases in productivity and weaning rates on its existing breeding stations, CPC will seek additional backgrounding country with the flexibility for cropping and close to major markets,” he said.

The country on Hillcrest is mostly brigalow scrub carrying well-established weight gaining stands of buffel and green panic.

The fertile, deep black soil Isaac River flats support high-quality grazing but also offer potential cropping opportunities.

Hillcrest features 11km of Isaac River frontage, 10 dams and several semi-permanent holes in a 600mm annual rainfall region.

SA’s Wilkatana Station makes $7.4m

The Doman brothers have expanded their South Australian pastoral portfolio paying $7.4 million for the neighbouring Wilkatana Station at the foot of the Flinders Ranges.

Sold by the Melbourne-based Sawers family after 123 years of ownership, the 44,696ha historic sheep and cattle station is located 45km north of Port Augusta and 157km from Jamestown.

UK-based doctor and entrepreneur Andrew Doman and Adelaide-based lawyer and barrister Tom Doman own the adjoining Yadlamalka Station, as well as the 154,100ha Beltana Station which they purchased in 2017 for $8.4m.

In August this year, the pair paid $5.4m for the 43,300ha Lake Torrens Station, 57km north-west of Hawker and 162km from Port Augusta.

Ray White Rural agent Sam Krieg said the purchaser opened the bidding at $4m and the property sold under the hammer at $7.4m.

The country on Wilkatana is mostly semi open myall shrubland with an understory of bluebush, saltbush, native clovers and grasses and is looking healthy despite the season.

Historically and conservatively, it has run 5000 ewes and 150 cows plus replacements.

Wilkatana boasts excellent fencing and underground water and has been conservative managed, with country looking healthy despite the season.

Water is supplied from three bores, springs and numerous dams in a 225mm average annual rainfall region.

Infrastructure includes a five-bedroom home, a three-bedroom manager’s residence, a shearers’ quarters, an eight-stand shearing shed, multiple sheep and cattle yards and numerous sheds.

Historic sites include the Eyre Depot where explorer Edward John Eyre established camp on his journey north in 1839 and a weir constructed in 1912 to capture and store water for the Commonwealth Railways – the water was then transported via wooden pipes into Port Augusta for the steam trains.

Coddington country lists for $7.45m after failing to sell at auction

The home of the Coddington Uardry Poll Merino and Sheepmaster operation in central western New South Wales has been listed for $7.45 million after failing to sell at auction.

Offered by retiring vendors Graham and Susan Coddington, the 860ha Gilgai and Comobella are 8km from Geurie, 9km from Wongarbon and 25km from Dubbo.

Renowned in the Geurie district for its production ability, the slightly undulating open mixed farming country has rich, fertile basalt and red loam soils is equally suited to farming, finishing and grazing.

The property regularly runs up to 2500 ewes and 150 cows. Around 80 percent of the land is arable and produces 200ha of cereal and fodder crops. In the past, it grew wheat and barley.

Elders agent Brian McAneney described Gilgai and Comobella as a standout performer in a highly sought after and reliable area.

“The Coddingtons have capitalised on their production ability, regularly bringing in stock from their western holdings and finishing them for the nearby Dubbo market,” he said.

“The country responds well with impressive pastures of lucerne, ryegrass, phalaris, clovers and medics, as well as native pastures including major stands of Warrego summer grass,” Mr McAneney said.

Gilgai and Comobella are well watered with 30 dams and a solar powered equipped bore.

Infrastructure includes a renovated four-bedroom home, a self-contained unit, a four-stand steel shearing shed, steel cattle and sheep yards and four silos totalling 220 tonnes of grain storage.