Weekly property review: Recently completed sales

Property editor Linda Rowley, 31/03/2021

Riverina-based producers have paid around $10 million for the cattle breeding and finishing enterprise Genaren in New South Wales’ Central West.

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

  • NSW Central West cattle breeding and finishing makes $10m
  • Neighbour expands footprint in Coonamble
  • Baralaba’s Currawong makes more than $6m
  • Record price for NSW Wollomombi grazing
  • Three Queensland families secure higher NSW rainfall country
  • Fully fenced Bollon block snapped up
  • Historic Yaloke purchaser named

NSW Central West cattle country makes $10m

Riverina-based producers have paid around $10 million for the cattle breeding and finishing enterprise Genaren in New South Wales’ Central West.

Located near Narromine/Peak Hill, Genaren, pictured above, spans 6425ha and was previously run as a Merino sheep and wool operation.

Large areas of open country and strategic development makes the property also well suited to farming.

Mostly level to gently undulating open grazing country, Genaren has scattered shade timber and a small range which runs for 728ha from north to south.

The red/brown soils and medium cracking clays with moisture storing capabilities provide prolific pasture growth year-round in season.

The property has a 6km mostly double frontage to the semi-permanent Genaren Creek, plus several smaller creeks traverse the property.

Water is supplied by four stock and domestic bores, 58 dams and a floodplain which runs into the main dams and can provide beneficial flooding to around 162ha.

Neighbour expands footprint in Coonamble

A neighbour, believed to be a politician, has secured prime mixed grazing and farming country in New South Wales’ Central West.

The contiguous 1271ha Beanbah and the 1407ha Edale are suited to sheep, wool, cattle and cropping.

Located 32km north of Coonamble and 195km north of Dubbo, the properties have been run and managed as a single agribusiness enterprise by Charlie and Marg Beck.

The couple hold country on the eastern side of Coonamble and have decided to downsize.

The 2678ha of country consists of heavy grey self-mulching soils and a band of red clay to sandy loams.

Situated on the Mowlma Creek, the properties are also watered by two capped and piped bore schemes.

Elders’ Richard Gemmell handled the sale of both Genaren and Beanbah and Edale but was unable to disclose the buyers or the prices paid.

Baralaba’s Currawong makes more than $6m

Luke Dunne from Raby Creek, Duaringa, has paid $6.05 million bare for the standout Central Queensland cattle property Currawong.

Located 21km from Baralaba and 80km from Biloela, the fertile country would suit either a breeding, backgrounding or fattening enterprise.

The 1350ha block is mostly developed brigalow, blackbutt and bottletree softwood scrub rising up to ironbark, bloodwood and rosewood tableland country.

Currawong is well grassed with established stands of buffel, green panic and Rhodes grass running 480 backgrounders or 300 cows and calves.

Secure water is a feature. Currawong has five dams and a 5.5mgl water allocation from the Benleith Water Scheme delivered to a centrally located 10,000-gallon storage tank that is reticulated to nine watering points across the property.

Currawong has been held by Gary and Joanne Pierce who, after 33 years, are retiring.

Luke Dunne from Raby Creek, Duaringa, has paid $6.05 million bare for the standout Central Queensland cattle property Currawong

Record price for NSW Wollomombi grazing

A high elevation Eastern Fall New England grazing property that has never before been offered for public sale, has set a new price level for the Wollomombi district.

Settled by the McRae family 148 years ago, the 2047ha Fairburn is located 53km from Armidale and 39km from Ebor, in the heart of a renowned beef production area.

Andrew Starr from Ray White Rural was unable to disclose the buyer or the price, but admitted it was a very strong outcome for the vendor.

Beef Central understands the purchaser is a local.

Fairburn boasts a mixture of highly productive basalt, granite and traprock soils and the undulating terrain offers extensive areas considered ideal for further pasture development.

Over five generations the McRae family has run the property as a mixed beef and fine wool enterprise. However, in more recent years the owners have concentrated on building a cow and calf breeding production system. Water security on Fairburn is a feature with two reliable creeks and 83 dams.

Fairburn has been enjoying a terrific season, with the vendors strategically destocking the property in preparation for sale, resulting in a large body of both improved and native pastures.

Higher NSW rainfall attracts three Queensland families

A Central Queensland family seeking higher rainfall country has met the market paying $6.5 million for classic northern New South Wales beef cattle country.

Bald Rock is located 20km south east of Tenterfield and boasts a long history of breeding and backgrounding feeder steers. The estimated carrying capacity is 450 breeding units or about 800 backgrounders.

Pastures are a mix of native and naturalised improved species thriving on gently undulating fine blue granite soils.

Water security is provided by 23 dams, the Bald Rock, Brassington and Cottesbrook Creeks, a reticulation system, and an average annual rainfall above 850 mm.

In addition to the cattle operation, Bald Rock has 1200 cherry trees and 4000 apple trees of various varieties.

New England rural property specialist Graham MacDougall said Bald Rock boasts an ideal location, sound infrastructure and proven production.

CQ buyers secure Deepwater’s Culgoa

A cattle producing family from Central Queensland has secured Deepwater’s Culgoa, in New South Wales’ northern New England, prior to auction.

Bruce Birch from Ray White Rural was unable to disclose the buyer or the price paid, however at the time of listing he indicated a price guide of between $10,000 to $15,000 per cow area.

Comprising 882ha of open grazing country, Culgoa is capable of running 400 to 500 cows, or 5500 dry sheep equivalents.

Management is made easy by the uniform shape of the holding and recent major improvements in paddock design and internal fencing which allows for both set and rotational grazing practices.

Water is also a key feature, with an extensive frontage to Deepwater River, seasonal gullies and numerous stock dams.

The sale included a 165MEG water licence (WAL) giving the incoming purchaser the option of growing a variety of crops along the fertile river flats.

$9.5m buys Dundee’s Dunvegan Aggregation

A southern Queensland grazing family seeking higher rainfall breeding and fattening country has paid $9.5 million for northern New South Wales’ the Dunvegan Aggregation.

The family will add the 1765ha holding to their existing holdings in southern and central Queensland.

Geoff Hayes from Ray White Rural said there were seven registered bidders at the auction and the price paid was well above the reserve.

“There is a good thirst for good quality grazing country. Inquiries and inspections came from Victoria, South Australia, north to Cloncurry, as well as from Australian expats living in Canada and New Zealand.”

Dunvegan is a low labour input breeding and fattening property situated near Dundee, north of Glen Innes, in a 900 to 950 mm rainfall district. It is also watered by more than 40 dams and five creeks.

It comprises mostly open grazing country with large areas suitable for cultivation. The well-established pastures are supported by more than 55 years of fertiliser history and conservatively run 400 breeders plus followers.

Fully-fenced Bollon block snapped up

After just two days on the market, Bollon’s fully exclusion-fenced Bengarcia has been placed under contract.

The 14,110ha holding, 84km north west of Bollon in Queensland’s Maranoa region, has been held for the last three years by Ben Donpon who owns an earthmoving and haulage business in St George.

Bengarcia comprises slightly undulating red loam soils, with strong buffel pastures, mulga Mitchell and winter herbages in season. The watercourse country is a mixture of salines with buffel running into reserves of low mulga in the west.

There is a share bore capped and piped to 15 tanks and 35 troughs (nine of which have been put in place in the last three years), as well as 11 dams. A feature is 71km of new exclusion netting fences which have been erected in the past three years.

Nick Dunsdon from Nutrien Harcourts GDL handled the sale.

After just two days on the market, Bollon’s fully exclusion-fenced Bengarcia has been placed under contract.

Historic Yaloke purchaser named

New South Wales Riverina cattle producer Chris Stoney from Minto Pastoral has paid $9.35 million for Deniliquin’s historic signature property Yaloke.

In December, James Sides from Nutrien Harcourts was unable to disclose the buyer or the price paid but told Beef Central, the highly sought-after property set a new benchmark for the Western Deniliquin region – in excess of $9m.

Located 23km west of Deniliquin, the 3342ha block featurea some of the district’s best livestock and farming country – sheep and cattle and irrigated and dryland cropping.

Water is a feature with 10km of Wakool River frontage, access to both Murray irrigation and river water, as well as substantial water storage.

The grazing country has native timber along the gullies and low-lying areas and there is 200ha of saltbush plantation for livestock grazing and winter shelter.

At the time of the sale, Yaloke was running around 1000 head of cattle and 3000 ewes and followers, however it could carry 5000 head of cattle in the current season.

A cattle producer with existing holdings in New South Wales’ Riverina has paid more than $9 million for Deniliquin’s historic signature property Yaloke.


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