Property

Weekly property review: recently completed sales

Property editor Linda Rowley, 06/10/2021

The historic mixed farming enterprise Catombal Aggregation, spanning 2912ha, is located in the highly-regarded, safe and reliable rainfall district of Cumnock, 75km north west of Orange.

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

  • $25m for NSW Central Tablelands scale
  • Above expectations for CQ’s Cedar Creek
  • Victorian dairy country purchased for grazing
  • $15m+ for NQ’s Leichhardt Creek
  • Locals secure western QLD country for expansion
  • Picturesque grazing secured in SA’s Flinders Ranges

$25m for NSW Central Tablelands scale

A family operation from southern New South Wales has paid more than $25 million for a holding with scale in the New South Wales Central Tablelands.

The historic mixed farming enterprise Catombal Aggregation, pictured above, spanning 2912ha, is located in the highly-regarded, safe and reliable rainfall district of Cumnock, 39km from Molong and 75km north west of Orange.

Ben Redfern from Ray White Emms Mooney, who took the five adjoining properties to an expression of interest campaign, said interest was extremely strong.

“Inquiry came from South Australia, Victoria, NSW and Queensland with more than 50 inspections and 16 submissions put forward. It sold as a whole, well above expectations, for more than $8600/ha.”

The country once formed part of the Munro family’s 4407ha sheep, cattle and cropping holding which they settled in 1877 and sold in 2016.

Situated at an elevation between 500 and 700 metres above sea level, the aggregation enjoys a temperate climate.

Catombal ranges from gently undulating cultivation country to protected valley grazing, supporting between 26,000 and 28,000 DSE.

Soils are a basalt and limestone derivative which transition from clay loams on the ridges to rich red basalt soils on the arable country.

The current management has extensively developed the existing water infrastructure, including new bores and pipelines and upgrading of header tanks and additional troughs.

A major fencing project has also been undertaken, with 30km of new fencing, including 10km of exclusion fencing. Substantial working infrastructure including yards, sheds and silos are located across the aggregation.

Under current management, a strategic and targeted cropping program has been undertaken to work with a highly-productive perennial pasture system.

The Catombal Aggregation was sold bare of livestock and plant, but included this year’s winter crop, comprising 400ha of wheat, barley, oats and canola.

It was sold by investment group, Rural Investor, after the asset reached the end of its investment cycle.

Above expectations for CQ’s Cedar Creek

Central Queensland’s Cedar Creek has exceeded expectations selling under the hammer for $23.36 million to a Queensland producer planning to relocate.

Located 7km south east of Gogango and 64km south west of Rockhampton, the 5106ha holding comprises a mix of brigalow and softwood scrub soils, alluvial scrub and forest flats merging into forest rises that support 2500 adult equivalents.

There is 45ha of cultivation irrigated by a four-span centre pivot and side roller irrigators.

Cedar Creek was sold after more than 40 years of single family ownership by Jan Adam and her son Robert Williams. It was put together by Jan’s late father Nelson Ohl.

Long term manager Kelvin Howkins who managed Cedar Creek for 43 years is retiring.

The property is well-watered by 15 dams, semi-permanent holes along the creeks and two bores.

Damien Freney and Bill Hamilton from Nutrien Harcourts GDL handled the marketing and sale, including operating plant and equipment.

Central Queensland’s Cedar Creek has exceeded expectations selling under the hammer for $23.36m to a Queensland producer planning to relocate.

Victorian dairy country purchased for grazing

A local has paid between $18 million ($17,000/ha) and $20 million ($19,000/ha), or around $700/DSE, for two neighbouring properties in Victoria’s south west.

The 647ha Karrara Farms and the 409ha Acacia Dairy are situated at Ecklin South in a reliable, high rainfall, premier dairying region.

Combined, the properties span 1055ha – making it the largest parcel of land ever offered south of the Princes Highway – running between 20,000 and 25,000 DSE.

Rob Rickard from Elders said the buyer, who has existing holdings in the south west, will convert Karrara Farms and Acacia Dairy from high performance, established dairy operations to an intensive beef and sheep enterprise.

“The properties were incredibly good value, representing the cheapest and most reliable dollar per DSE country in Australia. It is reliable year in year out, boasting good consistent seasons and rainfall through the growing seasons,” he said.

Karrara Farms and Acacia Dairy were marketed as expansion opportunities for existing dairy enterprises, or for producers seeking a larger holding for beef, sheep and/or fodder production.

Mr Rickhard said interest came from beef and sheep producers in New South Wales, South Australia and all parts of Victoria.

“Most dairy farms in the region are between 300ha and 500ha and that’s not large enough to attract corporates or outside farming families. Together, they were an economically viable proposition.”

Karrara Farms and Acacia Dairy are situated at Ecklin South in a reliable, high rainfall traditionally dairying region, but attracted interest from beef and sheep producers from NSW, South Australia and all parts of Victoria.

$15m+ for NQ’s Leichhardt Creek

North Queensland’s 13,577ha Leichhardt Creek has sold under the hammer for $15.1 million to a neighbouring family for expansion.

Peter McPherson from Queensland Rural said the walk-in walk-out price, which included 2120 EU accredited Brangus and Brangus cross cattle, exceeded expectations.

Leichhardt Creek was offered to the market for the first time since the mid-1950s by Townsville-based Charmaine Barrett and Will Horsfall who are downsizing.

Situated at Gumlu, south of Home Hill, the property is suited to run breeders, with the capability of some backgrounding. It can run between 2500 and 2700 head with a mix of 1000 to 1500 breeders, replacement heifers and the balance grow out cattle.

It has a mix of country and strong soil types, lightly timbered ironbark and bloodwood rolling ridges that rise into productive and useable range country.

Soils vary from large areas of Goldfields country with reddish and loamy alluvial soils along the creek frontages, interspersed with strong areas of black soil.

Leichhardt Creek is well watered by 13 bores and three dams. It is bisected by the Leichhardt, Kirknie, Bobs, Taipan and Rocky Ponds creek systems which provide a number of semi-permanent seasonal waterholes.

North Queensland’s 13,577ha Leichhardt Creek was offered for the first time since the mid-1950s.

Locals secure western QLD country for expansion

The Ogg family from Ayrshire, Winton has paid close to the $4.67 million ($407/ha) asking price for western Queensland’s 11,473ha Westward Ho.

Located halfway between Winton and Longreach, the property features gently undulating Mitchell, Flinders open downs with areas of buffel grass.

Described as a low maintenance, easy care, backgrounding or fattening property that can be operated remotely, Westward Ho can run 1200 head of cattle during an average season.

It is watered by three sub-artesian bores, five turkey nests, three dams and seasonal waterholes along the Darr River.

Tom Brodie from Brodie Agencies handled the sale and marketing.

The 11,473ha Westward Ho is located halfway between Winton and Longreach in western Queensland

 

Meantime, Taroom’s Jack Atkins and family will expand into western Queensland with the purchase of sweet high weightgain country ideal for backgrounding weaner cattle or breeding sheep.

They paid $3.15 million bare for John and Kathy Hall’s 7486ha Euston – a freehold and tick-free property, 37km west of Morella and 107 km north of Longreach, with an additional 1113ha of stock route.

The country is predominately gentle undulating Mitchell and Flinders grass pebbly downs country, with some buffel along the creek systems and on the tighter ridges.

The chocolate cracking soils are lightly timbered with whitewood, vinetree and boree trees. There is little prickly acacia evident, with just a small patch around the dam.

In an average season, the vendor estimates Euston can carry up to 500 mixed cattle and 5000 mixed sheep.

Tom Brodie from Brodie Agencies said Euston was in a good position to capitalise on the live export market to the north and the meatworks, feedlots and the store markets to the south.

“The Winton and Longreach saleyards and rail trucking facilities make Euston an ideal property to grow out or fatten store cattle brought in from the north. Very good weight gains are experienced with this quality country in an average season,” he said.

Euston is watered by two sub-artesian bores. Around 10.5km of wild dog exclusion fencing is shared with the neighbouring property Outermorella.

Taroom’s Jack Atkins and family paid $3.15m bare for John and Kathy Hall’s 7486ha Euston – a freehold and tick-free property north of Longreach, with an additional 1113ha of stock route.

Picturesque grazing secured in SA’s Flinders Ranges

A local seeking expansion has paid $2.78 million for 5056ha of prime Merino breeding country in South Australia’s Flinders Ranges.

The sale of Wolhalla brings to an end 70 years of single family ownership by the Rowe family.

Situated 12km south of Hawker, nestled in the Wilson Valley between the Black Jack and Yappala Ranges, Wolhalla was offered with around 925 breeding ewes, 360 ewe weaners plus 18 rams and a small working plant.

The picturesque and productive grazing country is suited to sheep breeding, wool production and cattle and is estimated to carry 1700 breeders plus replacements.

There are good stands of bullock bush, black oak, acacia victoria and native pine shelter belts, with good vegetation stands of bluebush and salt bush and winter burr clover, bindii, barley grass, button grass and herbage.

Wolhalla boasts exceptional improvements including a large steel-framed shearing shed with steel three-way drafting yards and loading facilities with a central race and cooler paddock.

The property is watered by four bores, a well and seven dams.

Tim Wooley from Nutrien Harcourts handled the marketing and sale.

 

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