Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, November 4, 2020

There was tremendous interest in Fishtail, a property that once formed part of King Ranch Australia’s Tully River Station, one of the most productive coastal cattle stations in Queensland’s tropical far north.

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

  • Fertile Fishtail in Far North QLD sells at auction
  • Mt Surprise grazing makes $2.85m

 

Fertile Fishtail in Far North QLD sells at auction

Dino Penna of Penna Beef Enterprises, Marlborough, has paid $5.5 million for Fishtail, originally a part of the famed Tully River Station, one of the most productive coastal cattle stations in Queensland’s tropical far north.

The 912ha property, 40km south west of Tully and 20km west of Euramo on Queensland’s Cassowary Coast, attracted 53 enquiries, 21 inspections, five contracts and three registered bidders.

Tully River Station was owned and developed by the United States’ King Ranch cattle empire in Australia during the 1960s and 70s. At the time, the property ran around 40,000 head of cattle on 18,000ha of country, mostly fattening weaners from Lake Nash Station on the Barkly Tablelands in the Northern Territory.

For the past seven years, John and Janelle Foote (QWR Pastoral Co) have been using Fishtail as a backgrounding cattle enterprise to support their cattle breeding operation at Mount Cardwell Station, Mt Garnet, supplying steers to the live export feeder and slaughter market at Townsville.

Earlier, Matthew Kennedy from Kennedy Rural told Beef Central the country on Fishtail was similar to the Atherton Tablelands.

“It is a productive (freehold) grazing and farming block boasting fertile alluvial grey to red soils, reliable high rainfall and abundant water that can easily run 1000 backgrounders,” he said.

The $5.5m sale included around 900 head of cattle, as well as plant and machinery.

 

North Queensland’s George and Miranda Ryan from Ballynure Station near Einasleigh have paid $2.85 million ($800/ha) for Savannah Station at Mt Surprise.

Mt Surprise grazing makes $2.85m

North Queensland’s George and Miranda Ryan from Ballynure Station near Einasleigh have paid $2.85 million ($800/ha) for Savannah Station at Mt Surprise.

After the property was passed in at auction on a bid of $2.8m, Savannah was sold after a post-auction negotiation.

The Ryans said Savannah will complement the family’s three other properties – Ballynure and Welfern Stations which run breeders and Thurso at Hughenden which is used to grow out steers.

Savannah will be used to grow-out and join replacement heifers, with the Ryans planning to truck in around 800 heifers in time for joining to bulls through the wet season.

Until recently, Savannah formed part of Rocky Springs – one of the few freehold pastoral enterprises in North Queensland. It was subdivided by Garry Hill from Sellwood Hills at Gympie and Bruce Angel from Rockhampton, who have a history of property development.

At 3562ha, Savannah Station is situated on well-regarded basalt soil.

The vendor estimates that Savannah is capable of a sustainable carrying capacity of 600 adult equivalents or 800 mixed cattle.

Historically, the property has been used for breeding, however the soils and pasture suggest that Savannah would also be suitable to grow young cattle to typical live export weights.

It is well watered by three bores, three tanks and 23 troughs.

In the meantime, the neighbouring and more diverse, Byrimine Station, was passed in at auction for $2.8 million recently, and has now been listed for sale.

Like Savannah, it is also suited to breeding and fattening, has a history of careful pasture management and boasts outstanding underground water resources.

Byrimine Station fronts the Fossilbrook Creek which has a substantial, year-round flow and fertile grazing frontages. This, in addition to a PMAV and irrigation licence, offer dryland or irrigated farming, and broadacre or horticulture cropping options.

Henry Slaney from Slaney & Co was appointed to carry out the marketing and the sale of the two adjoining properties which were offered bare of livestock and plant.

 

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