Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, March 17, 2021

Bidgel Grazing has paid between $19m to $20m for leading western Darling Downs cattle enterprise Dalkeith.

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

  • Leading western Darling Downs country makes $19-$20m
  • Local pays $26m for NSW Western Division country
  • Neighbour secures NSW Central West holding prior to auction
  • Maranoa’s organic Siwa makes $8.77m
  • Neighbours expand their holdings in southern QLD
  • Great result for Roma’s Eulorel

Leading western Darling Downs country makes $19-$20m

Bidgel Grazing has paid between $19 million and $20 million for leading western Darling Downs cattle enterprise Dalkeith.

JLL’s Clayton Smith said the new owners are nearby landholders adding Dalkeith to their existing portfolio.

“There was strong interest from the market given the turn-key nature of the asset – a large-scale, stand-alone breeding, backgrounding and finishing business with a productive running start,” he said.

Dalkeith, pictured at top of page, was offered on a walk-in walk-out basis including plant, equipment and livestock – 1100 Angus cross cows, 500 PTIC first calf heifers, 300 recently joined heifers and 80 working Angus bulls.

While Mr Smith would not discuss price, it is understood the property met the pre-market expectations.

Located in southern Queensland’s Flinton/Teelba region east of St George, the 15,411ha Dalkeith features extensive improved buffel grass pastures that can run 2000 breeders.

Around 1850ha of the productive land and soil types are arable, providing further flexibility and scope to grow grain and fodder crops. A further 1500ha, previously farmed, has been sown to improved pasture.

Water is secured by an extensive water reticulation system from two artesian bores, complemented by overland flow dams and waterholes in Bidgel Creek.

For the past eight years the property has been held by the Newcastle-based Bradstreet family who significantly invested into pasture improvement, regrowth clearing, exclusion fencing and livestock handling and feeding infrastructure.

The sale of Dalkeith concludes Mr Bradstreet’s involvement in the rural industry.

Local pays $26m for NSW Western Division country

Ogden Pastoral has outbid internationals, corporates and superannuation funds, paying $26 million for a large-scale aggregation at Mount Hope, in New South Wales’ Western Division.

The 32,632ha Yara and the nearby 20,905ha Kilparney are located between 70km and 100km north of Lake Cargelligo.

The two properties were sold on a walk-in walk-out basis including 2000 joined ewes, 1000 wether lambs, 7500 tonnes of barley and 2000 bales of hay.

On a bare basis, Yara and Kilparney achieved around $20 million ($373/ha).

Ogden Pastoral, which now holds around 80,000ha of country in the region, will continue to farm and improve Yara and Kilparney.

The country features flat red loam soils, with the balance timbered by pine, rosewood, box flats and mallee areas, growing an abundance of natural herbages and grasses.

Combined, there is 12,440ha of cultivation – 9502ha on Yara and 2941ha on Kilparney. Each property is watered by eight earth dams.

David Russell from Landmark Russell Cobar handled the expressions of interest campaign and subsequent sale.

The 32,632ha Yara and the nearby 20,905ha Kilparney were sold walk-in, walk-out including 2000 joined ewes, 1000 wether lambs, 7500 tonnes of barley and 2000 bales of hay.

Neighbour secures NSW Central West holding prior to auction

A local has snapped up the adjoining large grazing and farming aggregation at Mount Hope, in New South Wales’ central west, prior to auction for around $4.7million ($248/ha).

The 18,935ha Stanifords and Yackarboon, boasting heavy-carrying, fertile grass country, are situated 140km north west of Lake Cargelligo and 140km north of Hillston.

Stanifords was first taken up in 1948 as a soldier’s settlers block by the father of the current owner Roddie Forsyth. Yackarboon was added to the current holding in 1971.

David Russell from Landmark Russell Cobar said the aggregation has been conservatively managed and improved over many years, displaying some of the best heavy carrying semi-open grazing country in the Mount Hope area.

The country is well watered by 19 earth dams. The Thule Creek runs through the property for 7km, from east to west.

A network of drain and natural water course flows service a purpose-built surface dam (with a 120ml capacity when full) that can be used for small irrigation.

Stanifords and Yackarboon are rated to carry 6600 dry sheep equivalents or 400 breeding cows, with an additional goat cash flow of 600 to 800 head per annum.

The 18,935ha Stanifords and Yackarboon, boasting heavy-carrying, fertile grass country, are situated 140km north west of Lake Cargelligo and 140km north of Hillston.

Maranoa’s organic Siwa makes $8.77m

The well-managed, well-developed Maranoa organic breeding and fattening property Siwa has sold at auction for $8.77 million ($1763/ha) to Andrew and Anna Nugent from Tambo.

Vendors Adrian and Marg Tiller, who also operate Leinster, withdrew Siwa from the market two years ago, after it failed to sell at auction.

The 4975ha holding, located 100km south Roma and 80km west of Surat, was destocked but is capable of producing 15,000 lambs a year.

Rob Wildermuth from Ray White Rural Roma said Siwa offered diverse income streams.

“It is a mixed cattle and fodder block with opportunities for sheep and or goats and cropping, including grain, forage and hay. It also has the added advantage of being organically certified,” he said.

Siwa is relatively flat, brigalow, belah melon-hole country, cleared and developed with improved buffel and natural pastures.

Water is secured by 13 dams plus a share bore and most of the fencing is in good to very good condition – predominately a dog proof boundary and internal ringlock.

 Neighbours expand their holdings in southern QLD

The Webster family has secured the neighbouring property Fairymount in southern Queensland for $7.1 million ($906/ha) at auction.

The well grassed 7834ha block is situated 35km north west of Bungunya or 108km south east of St George.

Held by the Gerhardt family for the past 22 years, Fairymount is rated to carry between 800 and 1000 breeders.

The moderately undulating country is well grassed and consists of red belah soils and a small portion of melon hole country. Substantial areas have been cleared, some areas stick-raked and generally established to buffel.

The sale of Fairymount was handled by Ben Forrest and Grant Veivers from the Resolute Property Group.

The Webster family has secured the neighbouring property Fairymount in southern Queensland for $7.1 million ($906/ha) at auction.

Great result for Roma’s Eulorel

https://www.youtube.com/watch?v=zr_I2YXBRrQ&feature=youtu.be

The Bowling family from Koatanui, Wandoan, has secured Roma’s Eulorel for $5 million ($1770/ha) at auction.

The 2825ha property, which boasts exceptional infrastructure, is located 72km south of Roma and 60km west of Surat in southern Queensland’s Maranoa.

Eulorel has a mix of developed forest country and grows productive buffel complimented by native grasses, medics and seasonal herbage.

Trenton Hindman from Colliers International said it was a great result for a property that had been meticulously developed by the late John Mackenzie and his wife, Robyn, who is planning to retire to Roma.

“Eulorel is among some of the best maintained properties in the region. There is little to do in the way of capital expenditure, providing an opportunity for the new owner to focus on additional pasture improvement to boost the current 400 cows and calves carrying capacity,” Mr Hindman said.

The country type could be value-added by introducing sheep and or goats alongside the cattle herd.

Before the auction, Mr Hindman said one of the most impressive features was Eulorel’s vegetation map.

“More than 96 percent is category X which allows mechanical and chemical control of vegetation, when and if required. In addition, an exclusion fence surrounding the entire property has significantly increased grass production in the last three years.”

Eulorel is watered by 16 permanent dams, a waterhole on Borah Creek and an aquifer bore hole.

The property adjoins AA Co’s Wylarah Station. Other nearby neighbours include S. Kidman & Co’s Rockybank and Armour Energy’s Kincora Gas Project.

 

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