THIS week’s property review includes this wrap up of recently completed sales and two separate articles on properties for sale.

• Pickersgills pay $50m+ for Blackwater’s Bottle Tree Camp
• Grazing enterprise between Sydney & Canberra makes $16m
• $4.7m for Southern Tablelands block
• Walgett family pays $12.5m for Dungalear South
• Campbells from Mitchell expand with Verniew
• Nebine’s Woonoona & Tatala changes hands

Pickersgills pay $50m+ for Blackwater’s Bottle Tree Camp

The Pickersgill family, trading as Bunderra Cattle Co, has paid more than $50 million to secure neighbouring country in the heart of Queensland’s Central Highlands.

The 10,098ha Bottle Tree Camp, 42km south of Blackwater and 116km from Emerald, was sold by the Engwicht family after more than 50 years of ownership. The sale included a 2050 EU cattle herd, along with some plant and equipment.

The Pickersgills snapped up Bottle Tree Camp prior to auction, giving them more than 20,300ha of continuous prime finishing country in a tightly held region renowned for first-class developed scrub pastures.

Two years ago, the family paid $48.25m for the adjoining 10,210ha Rockland Springs. The property sold well above reserve and included 3000 head of cattle plus plant. On a bare basis, it is estimated to have changed hands for around $4000/ha to $4500/ha.

During the marketing campaign of Bottle Tree Camp, Progressive Livestock and Property Marketing (PLPM) agent Mathew Noakes reported strong inquiry from local buyers and interstate producers, particularly in Western Australia and the Northern Territory.

The property comprises mostly well-developed scrub (6505ha) with strong stands of buffel and green panic, plus 2549ha of well-grassed standing timber. Escarpment country forms a natural boundary along the eastern and southern edges of the property.

Situated in a region that receives an average annual rainfall of 625mm, Bottle Tree Camp has a spring-fed watering system reticulated across the property.

Infrastructure includes a four-bedroom home, a three-bedroom manager’s residence, five-bedroom workers’ accommodation, and new steel cattle yards.

Bunderra Cattle Co

Operating under the Bunderra Cattle Co banner, the Pickersgills select properties to produce high-quality beef.

The family runs a substantial Droughtmaster cross cattle herd across 9378ha Washpool near Humboldt; 6014ha Shauna Hills near Bauhinia; 3101ha Crescent; 4342ha Brooklee; 41,820ha Deepdale; 9043ha Mt Ogg; and the 13,840ha Mt Inglis near Rolleston.

In September last year, Australia’s largest private landowner, Viv Oldfield, paid the Pickersgills $44m (bare) for the Northern Territory’s Murranji Station.

Their other NT beef breeding and farming opportunity, Neutral Junction, located five hours from Murranji, remains listed for sale. The 460,900ha holding near Barrow Creek, 150km south of Tennant Creek and 300km north of Alice Springs, is being sold with around 5400 breeders plus followers.

Grazing enterprise between Sydney & Canberra makes $16m

A farming family from Wellington in New South Wales’ central west has paid around $16m for one of the largest rural landholdings between the Sydney to Canberra growth corridor.

The 1782ha Bundong is in the Southern Tablelands, 38km from Goulburn and 81km from Canberra, and was once part of a larger pastoral operation spanning 12,000ha.

After more than 30 years of ownership, a Sydney investor brought the property to market late last year, targeting $18m to $20m.

Run as a prime lamb, wool and cattle enterprise, Bundong carries a crossbred and merino sheep flock alongside an Angus herd. It is rated to run between 10,000DSE and 12,000DSE.

Bundong has a mix of perennial pastures (including lucerne and phalaris), annual cropping (oats and barley) for finishing and hay production.

Country ranges from alluvial and sandy loams to brown granite rises, with a large proportion arable and well suited to cropping and pasture development.

With significant frontage to Lake Bathurst, water is supplied by two equipped bores and numerous dams, while more than 2000ha encompasses a natural private lake known as The Morass.

During their ownership, the vendor planted 500,000 trees to provide windbreaks and shelter for livestock.

Infrastructure includes a prestigious circa 1888 five-bedroom homestead, widely regarded as one of the region’s most significant heritage properties, with sweeping views across The Morass and Lake Bathurst.

There are two renovated staff houses (a three-bedroom manager’s house and a two-bedroom staff cottage), a six-stand shearing shed, steel sheep and cattle yards, a shearers quarters and numerous sheds.

The sale of Bundong was handled by Inglis Rural Property agent Sam Triggs.

$4.7m for Southern Tablelands block

Meanwhile, a picturesque, turnkey breeding and finishing enterprise in New South Wales’ Southern Tablelands has sold to a local farming family for $4.7m.

The 423ha Torokina is 23km from Tarago and 50km from Goulburn, and features mostly open, gently undulating country.

It has a proven track record as a cattle trading platform, turning over around 4500 head between 2011 and 2024, in addition to breeding and agistment.

Around 340ha (80 percent) of the brown and alluvial loams are considered arable, supported by extensive improved pastures and a strong history of fodder cropping.

Torokina is top-dressed annually to support its perennial pasture base and maintain high stocking rates, with around 152 tonnes of fertiliser applied since 2016.

In a 675mm average annual rainfall region, Torokina has an equipped bore, 15 dams and double frontage to permanent pooling and spring-fed creeks.

Infrastructure includes a renovated three-bedroom home, steel cattle yards, a two-stand shearing shed and three sheds.

Sam Triggs also handled the sale.

Walgett family pays $12.5m for Dungalear South

After a spirited auction, Dungalear South in north-west New South Wales sold under the hammer for $12.5m to a local Walgett family looking to expand.

The 11,686ha grazing and farming operation comprises a mix of freehold country and a Western Lands lease. It is located 32km north of Walgett and 49km south of Lightning Ridge.

The property once formed part of historic Dungalear Station, which at its peak was renowned for shearing up to 100,000 sheep.

Typical of the Walgett district, the western grazing country is highly regarded and features established stands of coolibah, myall and belah timber. Under the current ownership, the aggregation has been conservatively stocked with about 3500 ewes and followers.

During the marketing campaign, Hart Rural Agencies agent Charlie Hart was unable to disclose a price guide, citing limited comparable sales in the district.

After nine inspections and six registered bidders (three active on the day), Mr Hart said he was pleased with the result, noting Dungalear South sold above reserve.

Around 1468ha are arable. A further 278ha comprises cleared arable country, with an additional 234ha of cultivation country across permit and freehold land.

Water is secured via dams and the Dungalear and Bairnkine bores, supported by 450mm average annual rainfall.

Infrastructure includes an eight-stand shearing shed, steel cattle yards and a hay shed.

Campbells from Mitchell expand with Verniew

Damien and Sally Campbell, Currawarra, near Mitchell, have paid $12.81m ($1175/ha) at auction for a prime grazing opportunity on the banks of the Maranoa River in south-west Queensland.

The 10,899ha Verniew is a breeding and backgrounding property located 40km north of Mitchell and 120km from Roma.

The auction was described as ‘robust’, with three of the five registered bidders actively participating.

Sold by the Douglas family after six decades of ownership, the property has been growing abundant stands of buffel grass across the developed areas, capable of running around 700 breeding cows.

Boasting 8km of double frontage to the Maranoa River, Verniew is also watered by five bores, dams and seasonal waterholes.

Infrastructure includes two two-bedroom cottages, a three-bedroom donga, two steel cattle yards and numerous sheds.

Ray White Rural agent Bruce Douglas handled the sale.

Nebine’s Woonoona & Tatala changes hands

An established grazing operator from south-west Queensland has secured low-cost, drought-proof breeder country, ending 37 years of ownership by the Bolam family.

The 35,685ha aggregation – comprising the 13,744ha Woonoona and 21,940ha Tatala – is located near Nebine, 80km north-west of Bollon, 125km north-east of Cunnamulla and 140km south-east of Charleville.

Elders agents Phil Kelly and Keith Richardson were unable to name the buyer or disclose the price however, during the marketing campaign, a guide of between $222/ha ($90/ac) and $296/ha ($120/ac) was offered. It is understood the aggregation achieved somewhere in that range – between $7.9 million and $10.5 million.

Owned and managed under a family partnership, in conjunction with other land held in the immediate area and in central-western New South Wales, the vendors claim Woonoona and Tatala have never been destocked, even in drought.

Capable of running 1000 to 1200 breeders, the country is a mix of soft mulga and poplar box woodlands, open and wooded alluvial plains and a lake system growing soft native grasses and seasonal herbages.

Situated in a 400mm to 450mm rainfall region, the aggregation is watered by numerous dams, a bore, seasonal holes in the Nebine Creek and an extensive natural lake system with seasonal water.

Infrastructure includes a home, numerous sheds and three cattle yards.