THIS week’s property review includes this wrap-up of recently completed sales, plus separate articles on interesting recent listings in Queensland and re-listed properties across the country.

• Longreach’s Glenthomson makes $12m
• Most of Victoria’s Balmullin Aggregation changes hands
• Hemley’s expand with NSW Corner Country

Glenthomson, south of Longreach, is exclusion fenced on three sides and can be used for breeding, backgrounding and finishing around 2000AE on heavy Mitchell pastures, Flinders and buffel grasses.

Longreach’s Glenthomson makes $12m

John Hayes and family have secured the neighbouring 17,389ha Glenthomson in central western Queensland for $12 million ($690/ha) bare.

The sale of the prime cattle and sheep grazing country, pictured above, ends nine years of ownership by the Purvis family from Charleville.

Located 20km south of Longreach, Glenthomson is exclusion fenced on three sides and can be used for breeding, backgrounding and finishing around 2000AE on heavy Mitchell pastures, Flinders and buffel grasses.

During the marketing campaign, Nutrien Harcourts agent Boyd Curran described Glenthomson as an exceptional opportunity to secure a large-scale grazing enterprise in a renowned Queensland district at an affordable price.

The property is watered by multiple artesian bores and dams.

Infrastructure includes a five-bedroom home, a cottage, shearers’ quarters, steel cattle yards, a six-stand shearing shed, sheep yards and numerous sheds.

Most of Victoria’s Balmullin Aggregation changes hands

A breeding and grazing enterprise in north-east Victoria has raised more than $11.3 million for the Melbourne-based Ball family (trading as the Falls Pastoral Co) after 13 years of ownership.

The 1550ha Balmullin Aggregation is in the Molka district, at the foothills of the Strathbogie Ranges, 15km north-west of Euroa and 40km south of Shepparton.

In November 2023, the 1550ha aggregation was offered to the market with a $15 million plus price tag as a whole or separately. It consisted of the 868ha Balmullin, the 350ha Berridale and the 330ha Boxwood Park.

Shortly afterwards, a neighbouring farmer paid $1.05m for 134ha carved off the 868ha Balmullin holding.

The 1416ha aggregation returned to the market with a reduced $14 million price tag.

Recently, northern Victorian producers have purchased and relocated to the remaining 734ha Balmullin (listed for $7m bare) and the 351ha Berridale (listed for $3.25m bare), while the 331ha Boxwood Park remains unsold at $2.75m.

CBRE Agribusiness agent Matt Childs was unable to disclose the prices paid or the purchasers, however he said the Balmullin Aggregation was listed at a time when the property market was undergoing significant change.

“Two years later it has transacted, along with several other holdings, reflecting signs the subdued market is improving on the back of an uplift in commodity prices. What the market needs now is an autumn break and a strong and favourable season to stabilise the market.”

Featuring improved soil quality, renovated pastures, reliable water, significant infrastructure and new fencing, Balmullin was a renowned producer of tender prime lamb trading as Molka Lamb.

With a total carrying capacity of 15,000DSE, it was joining 6500 crossbred and composite ewes, with a history of 125 percent lambing.

Water across the aggregation was supplied by two dams (205ML total capacity) for irrigation and a bore.

Infrastructure included a renovated four-bedroom home, a modern shearing complex and numerous sheds.

The 1550ha Balmullin Aggregation is in the Molka district, at the foothills of the Strathbogie Ranges, 15km north-west of Euroa and 40km south of Shepparton.

Hemleys expand with NSW Corner Country

The Hemley family from Victoria has paid $3.4 million ($84/ha or $34/ac) for Tarakan Station in the Corner Country of New South Wales.

The 40,469ha holding, 50km from Tibooburra and 380km from Broken Hill, was sold by Broken Hill’s Allison House which used to provide accommodation for high school students from isolated properties.

Broken Hill-based Nutrien Harcourts agent Troy Hartman said the sale was in line with the nearby 67,955ha Lake Stewart Station which made $80/ha ($32.50/ac) in July 2022.

“For the past 20 years, the rangeland grazing enterprise has operated as a low-maintenance cattle breeding operation. This well-established business model has proven to be both sustainable and efficient, allowing for the effective management of cattle in a natural environment,” he said.

The diverse and picturesque landscape on Tarakan comprises a mix of undulating ironstone and sandy ridges, and creeks lined with majestic gum trees, growing cannonball, copper burr, woolly butt, saltbush, blue bush and Mitchell grass.

The seven dams are described as a standout feature, supported by a 5000-gallon tank and 226mm of average annual rainfall.

Infrastructure includes an unequipped wool shed and cattle yards.

Cattle on Tarakan