Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, December 2, 2020

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

  • Prized Victorian property makes $36m
  • Eastern Riverina gems snapped up for $30m
  • Local pays $11.4m for CQ’s Burngrove
  • Broadwater in the Gulf achieves the asking price
  • NSW producer downsizes to SA’s Oakvale Station
  • A district record for Cobar’s Florida Station
  • Buying and selling in northern NSW

 

Prized Victorian property makes $36m

Minjah, a 2846ha holding at Hawkesdale in Victoria’s Western District, described as one of Australia’s finest large-scale agricultural holdings is reported to have been sold for $36 million.

The productive arable land is situated in a 750mm rainfall location 30 minutes from Warrnambool and three hours from Melbourne. It farms lambs, beef and dairy cattle and crops.

An earlier reference in this item suggesting the Paterson family from Hells Gate on New South Wales’ Hay Plain were the buyers was incorrect. Beef Central apologises for the error to Gordon Paterson and family.

In July 2014 it was reported that the historic property, owned by farmer and lamb exporter Tim Clarke and his wife Jen sold to Xinjiang Tianshan Animal Husbandry Bio-engineering for $25.25m.

At the time, Tianshan said the acquisition would help the company enhance its business profile and market position and improve its profitability.

Minjah, established in 1845, is one of a number of leading Western District pastoral properties developed by brothers Jeremiah, George and Joseph Ware.

The nine-bedroom bluestone homestead was designed by Melbourne architects Smith and Johnson and built in 1870.

The off-market transaction was reportedly handled by PricewaterhouseCoopers.

Established in 1845, Minjah is one of a number of leading Western District pastoral properties developed by brothers Jeremiah, George and Joseph Ware.

Eastern Riverina gems snapped up for $30m

Two prime cattle properties in the New South Wales’ Eastern Riverina districts have sold at auction for a combined total of $30 million.

Both were owned by the late Arthur Trethowan, who up until his passing in August this year at the age of 94, was still checking his stock on a daily basis.

Mr Trethowan owned Goolgumbla Merino Stud before purchasing Culbara in 1986. He was widely respected for his Hereford cattle.

Riverina Angus cattle breeders Frank and Andis Sorraghan paid $19.7 million for the 1295ha Culbara at Woomargama, a new record for the Holbrook district at $15,212/ha.

Riverina Angus cattle breeders Frank and Andis Sorraghan paid $19.7 million for the 1295ha Culbara at Woomargama, a new record for the Holbrook district at $15,212/ha.

Meanwhile, the 432ha Arthurs was secured by Rennylea Angus, owned by the adjoining Corrigan family, for $9.55 million – also setting a Culcairn district record of $22,106/ha.

Both properties were marketed and sold by Brian Liston from Nutrien Harcourts and Mike Scollard from Paull and Scollard Nutrien Ag Solutions.

The selling agents said the properties were highly sought-after due to an excellent combination of location, soils and reliable rainfall.

The 432ha Arthurs was secured by Rennylea Angus, owned by the adjoining Corrigan family, for $9.55m – also setting a Culcairn district record of $22,106/ha.

Local pays $11.4m for CQ’s Burngrove

Dean and Paula Armstrong from Comet have reportedly paid $11.4 million for Burngrove, a well-established grazing enterprise in the heart of Central Queensland.

The Armstrongs are headquartered at the nearby 20,000ha Comet Downs. They own five properties spanning 56,656ha in the Central Highlands, running around 12,000 head of cattle.

Burngrove, 8km west of Blackwater and 180km west of Rockhampton, is a viable standalone grazing enterprise or fattening depot that has been destocked since July.

The 3180ha holding boasts productive soil types, comprising mostly brigalow, bottle tree and bauhinia scrub, underpinned by established stands of buffel.

Chris Holgar and Geoff Warriner from JLL handled the sale of Burngrove but refused to disclose the buyer or the price paid.

Burngrove, 8km west of Blackwater is a viable standalone grazing enterprise or fattening depot that has been destocked since July.

Broadwater in the Gulf achieves the asking price

Scott and Kaylene Loader have traded Oakvale Station in South Australia for Broadwater Station in Queensland’s Gulf of Carpentaria.

The couple is believed to have paid $5.5 million for the 39,700ha property, including 2000 breeders, 50km from Normanton and 120km from Karumba.

Rated to carry 4000 cows, the breeder operation supplies live export cattle to Karumba and Cloncurry. Weaners are also distributed to fattening and backgrounding properties on the Atherton Tablelands and Downs.

The country on Broadwater comprises open woodlands and plains, with some higher ridges of forest country. The soils are black, yellow and sandy loams and clay, pastured by spear grasses, Mitchell and Flinders grasses, blue grasses, native sorghum and legumes.

The holding boasts a 13km dual frontage to the Norman River. It is also watered by 23 dams, four permanent waterholes, three large lakes and several semi-permanent lagoons.

Scott Hart from Nutrien Harcourts Queensland Rural handled the marketing and sale.

Rated to carry 4000 cows, the Burngrove breeder operation supplies live export cattle to Karumba and Cloncurry

NSW producer downsizes to SA’s Oakvale Station

A New South Wales producer from Tibooburra has paid between $4 million and $4.4 million for the Loaders’ Oakvale Station in South Australia.

The 77,180ha property is centrally located 200km to Burra, 160km to Renmark and 190km to Broken Hill in New South Wales.

It is ideally suited to sheep breeding or cattle, as well as mustering feral goats. While it has a pastoral board rating of 8000 sheep, it is conservatively stocked with 3500 ewes plus 2000 weaners and lambs.

The country is a productive balance of blue bush with a mix of black oak, mulga and cassia.

A feature is the major watercourses, natural lakes and swamp catchment areas, clovers and grass in season. It is also watered by 17 dams, two equipped bores and 60km of poly pipe to tanks and troughs.

During their three years of ownership, Scott and Kaylene Loader spent significant funds upgrading the fencing and the water infrastructure, as well as renovating the homestead.

A NSW producer from Tibooburra has paid between $4 million and $4.4 million for the Loaders’ Oakvale Station in South Australia.

A district record for Cobar’s Florida Station

Cobar’s Florida Station has sold for district record, after almost 80 years of ownership by the Mitchell family.

Located in central western New South Wales, 50km east of Cobar and 90km west of Nyngan, Florida was established by the Mitchell family around 1942.

A South Australian farming family who had cattle on agistment in the area, paid in excess of $248/ha for the 9238ha prior to the November 20 scheduled auction.

Florida, which was sold bare of plant and livestock, was anticipated to make more than $2.3 million.

The country is slightly undulating red loam soil to chocolate loam in the Mulga Creek Basin. The property is watered by 28 earth dams and around 16km of Mulga Creek disperses through the property from south to north. A 210km water spreading bank system allows for around 3500ha to be water shed.

During an average season, Florida can carry 400 breeding cows and followers weaning at six months. However, following a good season this year, the property is running around 900 head of cattle on about half the country. It seasonally harvests up to 800 goats per annum.

David Russell from Landmark Russell said the fertile grazing and farming country was highly sought after and represents value for money in good seasons and in dry.

Interest came from producers in South Australia and northern and southern New South Wales seeking good cattle and sheep country, as well as opportunity farming.

Cobar’s Florida Station has sold for district record, after almost 80 years of ownership by the Mitchell family.

Buying and selling in northern NSW

A well-known beef cattle family has sold a portion of its northern New South Wales aggregation and secured more breeding country in the region.

In April, the Tonkin family listed its large-scale breeding and fattening operation Tumlong, 20km south of Barraba and 103km north of Tamworth.

Aggregated over 25 years, it comprises four non-contiguous properties – 2709ha Tumlong and Olakuna, 2203ha Irriwilbin and 250ha Back Plain.

The 5498 hectares ranges from creek flats to undulating slopes, rolling hills and steeper ridge country and plateau grazing and are described as some of Barraba’s best country.

After an expressions of interest campaign, Hart Rural Agencies and Nutrien Harcourts Scone offloaded Olakuna and part of Tumlong, spanning 1214ha for around $5.5 million.

Earlier this month, the Tonkins paid $15.6 million for four of the five blocks that once made up the Linton Aggregation, 100km north of Tamworth.

The 8769ha properties, Pera and Beulah, Eumbra and Black Mountain, 40km southeast of Barraba, were offered to the market in April last year by rich-lister Tony Haggarty who owns the New England’s historic Goonoo Goonoo Station near Tamworth.

The 5498ha Tumlong aggregation ranges from creek flats to undulating slopes, rolling hills and steeper ridge country and plateau grazing and is described as some of Barraba’s best country.

 

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