Property

Weekly property review: Recently completed sales

Guest Author, 14/04/2021

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

  • Two unique NT properties sell for between $8m and $9m
  • Goondiwindi family snaps up Texas country
  • Downs grain/grazing farms make competitive rates at auction

Two NT properties sell for between $8m-$9m

Two Southern Queensland businessmen have paid between $8m and $9m (walk-in walk-out including 230 head of cattle) for two unique Northern Territory pastoral/farming properties owned by Pine Creek identity Eddie Ah Toy.

The Ah Toy family has been linked to the NT for more 100 years. Eddie’s Chinese grandfather arrived in Darwin during the 1880s goldrush and during the 1920s, operated the old bakery. In 1935, the family purchased the general store which it ran until 2015.

Selling agent Alison Ross from Elders was unable to disclose the price or the buyers of Claravale Station and Claravale Farm, but they are believed to be Darling Downs farmers who own the Top End Pastoral Co. They plan to turn some of the country over to cultivation.

Ms Ross said the Pine Creek properties attracted interest from Territorians and interstate producers.

Claravale Station and Claravale Farm sit on top of aquifers that will entice producers or investors seeking irrigation and / or development opportunities.

The adjoining properties are situated in an area reviewed by the NT Farmers Association for future development – to the north is the established Douglas Daly agricultural district and to south west lies the Edith / Florina regions.

Situated 90km north of Katherine, the 61,382ha Claravale Station perpetual pastoral lease fronts the Fergusson River on its southern boundary.

For the last 12 years, it has been leased and developed as a breeder operation running around 2000 head of cattle.

Overlying the Oolloo, Tindal and Jinduckin aquifers, Claravale Station is watered by a range of springs, dams and troughs, with a new bore due for construction this month.

The country features deep red soils and river alluvials, while the northern part has open valleys and escarpments and several springs.

Last year, Ms Ross told Beef Central, 40 percent had been cleared, and with further development the property could carry around 6000 head.

In the same deal, the neighbouring 6310ha freehold Claravale Farm, fronting the Daly River, offers a range of deep red soils and river alluvials that have been historically used for cropping and running cattle.

The property overlies both the Florina and Oolloo aquifers and has a large billabong providing scope for future development. However, there are no water licencing or land clearing permits presently in place.

laravale Station and Claravale Farm sit on top of aquifers that will entice producers or investors seeking irrigation and / or development opportunities.

Goondiwindi family snaps up Texas country

Southern Queensland’s well grassed Keetah Downs has been snapped up prior to auction by the Coulton family from Goondiwindi for $2.1m.

Located 52km north west of Texas and 58km south east of Goondiwindi, the 2104 hectares feature large areas of well-established sub-tropical pasture that run 300 cows and calves.

There has been extensive pasture development and improvement, and the vendors believe the carrying capacity could be improved further.

Between 80 to 100 hectares of the river flats is old cultivation. While some of this area was used for irrigation, it has been left as pasture country partially improved with subtropical pastures.

Keetah Downs boasts a 1.7km Dumaresq River frontage and is watered by a 300ML storage dam, 30 dams and two bores.

The property has been owned for the last six years by Michael and Gabrielle Murry and Kim and Wendy Frahn who are selling to dissolve a business partnership.

The sale of Keetah Downs was handled by Paul Kelly from Moree Real Estate.

Southern Queensland’s well grassed Keetah Downs attracted good local and interstate interest from producers seeking affordable grazing.

Downs grain/grazing farms make competitive rates at auction

Two smaller Darling Downs grain and grazing properties have sold recently for competitive rates at an Elders auction.

The 302ha Jimbour Plain property Glenmore, near Macalister sold for $4.3 million, representing about $14,240/ha, to Pallathorpe Farming.

The property was sold after 65 years of ownership by the Wegener family.

Improvements included machinery and chemical sheds, 360 tonnes of grain storage, a four-bedroom home and a bore.

Further north, the 113ha lifestyle/grazing property Warrina located 17km from Dalby and 25km from Bell, also sold during the same auction event for $952,500. The holding was offered on behalf of the late Clarrie Patch, and was bought by Scott and Janene McLellan.

Country included about 70ha of belah/wilga scrub soil, which was previously cultivated and now grows an excellent stand of bambatsi, purple pigeon, buffel and medics. The balance is timbered coolibah and soft wood scrub with green panic and buffel.

Warrina is divided into eight paddocks plus laneways and has timber and steel cattle yards.

Glenmore and Warrina were marketed by Mick Cuskelly, Elders Dalby.

 

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