Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, 25/08/2021

Yamminga is a prime hay producing, livestock and cropping powerhouse with 325ha developed for border check flood irrigation and more than 200ha of rich river and creek flats.

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

  • Productive mixed NSW farm makes around $10m
  • Bramwell Station sells for carbon credits
  • Locals expand with Warwick’s Mount Manning
  • Two NSW auctions postponed

Productive mixed NSW farm makes around $10m

A family operating a farming, livestock breeding and finishing business from the south west slopes region of New South Wales has paid between $9.5 million and $10 million for the Yamminga Aggregation west of Forbes in NSW.

The 670ha productive mixed farm (pictured above), 17km west of Forbes and 50km from Parkes in the state’s central west, boasts a 9.5km frontage to the Lachlan River.

Yamminga is a prime hay producing, lamb fattening and breeding, and cropping powerhouse with 325ha developed for border check flood irrigation and more than 200ha of rich river and creek seepage flats.

The property is currently carrying between 1000 and 1500 breeding ewes and progeny in combination with the mixed farming enterprise.

It has a substantial 2091 MgL irrigation water entitlement, two river pumps, as well as troughs and tanks. The property is also protected by a licenced levee system.

Yamminga aggregation was offered for sale as a whole or as four separate parcels via an expressions of interest campaign.

Gary Johnston from the Johnston Rural Group said the campaign generated significant interest, both locally and from further afield – ranging from corporates to family farmers.

While he could not disclose the price, Mr Johnstone said the sale price included the land, water and fixed improvements.

History

The property has a rich and fascinating history that dates back to the early 1800s when it formed part of the Carrawobitty Estate owned by James Collits.

In 1948, after World War Two, 2500ha was resumed for soldier settlement by the Australian Government. Seventeen separate parcels were granted in 1951, including those that now make up the Yamminga Aggregation.

In 1988, the Robinsons purchased country from the Caldwell family and in 2004, expanded their Forbes operations by purchasing the adjoining Stirling.

Under the Robinson family’s ownership, the properties have been extensively developed with their focus on modern efficient irrigation and flood mitigation, fencing and subdivision.

​Bramwell Station sells for carbon credits

A carbon credit scheme which can generate income in excess of $150,000 per annum is believed to have enticed Queensland’s Department of Environment and Science to pay $11.5 million for Bramwell Station on Queensland’s remote Cape York Peninsula.

The 131,900ha business is situated within the Great Barrier Reef Catchment north of Weipa, and is underpinned by an established roadhouse, tourist park, pastoral operation and carbon sequestration project.

The environmentally significant landholding boasts “undisturbed wild river catchments, diverse wetlands, grassland and country home to rare and endangered species of flora and fauna.”

It’s believed the $150,000 in carbon credits are provided by the Federal Government’s Emissions Reduction Fund savanna fire management projects which aim to reduce the frequency and extent of late dry season fires in savannas.

These practices result in fewer greenhouse gas emissions and more carbon being sequestered in dead organic matter.

While the DES refused to comment on the transaction, it did admit it was discussing the contractual arrangements of Bramwell Station with the vendor, and will have more to announce once the process is finalised.

Bramwell Station was first taken up in the early 1930s as a pastoral lease by Frank Monighan, who then sold it to Coen’s Rod Heinemann.

Mr Heinemann jointly held the station with Rosie and Jack Kennedy until 2002, when it was taken up by beef producers Vince Bowyer and Wendy Kozicka.

Four years ago, the couple bought the large, under-developed cattle breeding opportunity, Strathleven Station, also on the Cape York Peninsula, for around $3.5 million, where they will now focus their efforts.

The sale of Bramwell, which included 1000 head of mixed cattle, was handled by JLL and Adcock Partners Property & Livestock.

There was strong interest in Bramwell Station, one of Australia’s most northerly cattle stations, which was being offered to the market with 1000 head of mixed cattle.

Locals expand with Warwick’s Mount Manning

Stephen and Claire Schmitt from Queensland’s Southern Downs have paid $3.6 million bare ($8450/ha) for the scenic and fully operational Mount Manning grazing aggregation.

Located at Pratten, 25km north of Warwick and 136km south west of Brisbane, the aggregation comprises the 426ha Mount Manning and the 362ha Mullins Block.

The Schmitts will use Mount Manning to background lambs for their sheep feedlot at Victoria Hill. They will also bring in weaners from Charleville and finish them on the property, as well as grow some fodder on the cultivation country.

Stephen Schmitt is hoping to background 800 to 1000 lambs at a time over a six to eight week period, in addition to running 60 weaners.

Mount Manning comprises undulating and lightly timbered grazing country with around 100ha of arable black and brown alluvial soils.

Water is secured by 4km of double frontage to the Condamine River, numerous dams, a reticulated bore to tanks and troughs, as well as 230 megalitres of water entitlements.

Simon Cudmore from LAWD handled the expressions of interest campaign and sale.

Stephen and Claire Schmitt from Queensland’s Southern Downs have paid $3.6 million bare ($8450/ha) for the scenic Mount Manning

Two NSW auctions postponed

The auction of two New South Wales assets have been postponed due to the tough new COVID restrictions imposed by the New South Wales government.

Coonamble’s Cresline, in the state’s central west, was due to be auctioned this morning by Elders.

The 2937ha highly versatile mixed grazing and farming property is suited to sheep, wool, cattle, cropping and fodder production. It is currently running 3000 breeding ewes plus progeny, together with cattle in season.

Selling agent Richard Gemmell said a date had not been determined but the auction would be moved to an online platform.

The same is likely for western New South Wales grazing asset Youngerina.

Greg Seiler from Nutrien Harcourts said the August 19 auction will be rescheduled and conducted online.

The 25,506ha of country at Yantabulla, 108km north west of Bourke, is suited to cattle, sheep, goats and carbon sequestration. It is carrying a large body of grasses and winter herbages that are rated to run up to 600 cattle or 5500 dry sheep equivalents.

Located 36km north of Coonamble and 200km north of Dubbo, the 2937ha Cresline features versatile mixed grazing and farming suited to sheep, wool, cattle, cropping and fodder production.

 

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