Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, 30/03/2022

Located 20 minutes from Wingham, the 893ha Somerset features more than 5km of Manning River frontage, productive alluvial river flats and undulating grazing country.

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

  • Godwins secure QLD western downs country for $30-$35m
  • Historic CQ block sells after 160 years
  • Record $17.49m for Barcaldine’s The Patrick
  • $2m over reserve for NSW’s Somerset
  • Roma grazing block makes more than $3.4m

 

Godwins secure QLD western downs country for $30-$35m

Springsure’s Sid Godwin has paid between $30 million and $35 million, including 650 head of cattle, for Red Range and Laurel Downs in Queensland’s Western Downs region.

In December 2019, Sid and Tricia Godwin from Tanderra Station purchased the Taroom breeding, backgrounding or bullock fattening operation Deearne for $22.5 million. Located in a dress circle region renowned for turning off quality cattle, Deearne spans 7120ha and can carry 2500 adult equivalents.

The 5452ha Red Range and Laurel Downs, owned by Doug and Jan Bradshaw from Blue Dog Simmental Stud, are located 48km east of Taroom and 50km northeast of Wandoan.

Comprising mostly brigalow and softwood scrub with some poplar box and shrubby understorey, the property has deep clay and loamy soil types that can run around 1900 adult equivalents or 1200 breeders.

Situated in a 650mm annual rainfall area, Red Range and Laurel Downs are watered by several dams and two bores.

Just last month, district records were smashed following the sale of some of the best cattle carrying capacity country in Queensland’s Western Downs / Maranoa region.

Ben Conway from Taroom paid $20.15 million or $6939/ha bare for the 2904ha Hurreldean, in the heart of brigalow and bullock country, 56km north of Yuleba, 75km from Taroom and 120km from Roma.

And late last year, Karalee Plains and Marama, two neighbouring properties to Red Range and Laurel Downs, sold in an off-market capacity for around $5400-$5700/ha ($2200-$2300/ac).

Grant Veivers from Resolute Property was responsible for the off-market transaction of Red Range and Laurel Downs.

Springsure’s Sid Godwin has paid between $30 million and $35 million, including 650 head of cattle, for Red Range and Laurel Downs in Queensland’s Western Downs region.

 

Historic CQ block sells after 160 years

Clermont’s Beenboona Trust has paid $15.7 million ($2220/ha bare) for Central Queensland’s historic Mimosa Vale, family owned for more than 160 years over four generations.

Owned by siblings Ian and Barbara Mackenzie-Ross, the 7073ha property has been held by the family since the 1860s.

Located in the renowned Dawson Valley, 40km southwest of Baralaba and 40km northwest of Moura, Mimosa Vale is capable of carrying 1000 breeders plus progeny to backgrounders to 400kg.

Brad Hanson from Hourn & Bishop Qld, who handled the marketing and the sale of Mimosa Vale, said there was tremendous interest, with up to 140 people at the auction, 19 bid cards and six active bidders.

The property features a good balance of brigalow and softwood fattening country, alluvial creek flats and strong forest country.

Mimosa Vale comprises 3000ha of gently undulating scrub country (mainly brigalow, belah and bauhinia with softwood) and 4100ha of undulating iron bark and box country running down to strong blue gum, appletree flats and heavy carrying wetland areas along the Mimosa Creek.

More than 6000ha is pulled and improved country.

The property boasts eight dams and 14km of dual frontage to the Mimosa Creek with permanent waterholes, providing year-round water availability.

 

Record $17.49m for Barcaldine’s The Patrick

Dean Arnaboldi from Allanard, south of Jericho, has paid a record $17.49 million ($1057/ha) for Barcaldine’s The Patrick, in central western Queensland.

The transaction is $69 per hectare ahead of the previous district record of $988/ha paid for the Boorara Aggregation in January last year.

Owned by Toowoomba grazing identity Andrew Kibble and his wife Annabelle from Tawarri Pastoral Co, the 16,547ha holding comprises 14,155ha of freehold and 2392ha of leasehold land.

The Kibbles purchased The Patrick in April 2020 prior to auction for $7.36m ($445/ha). The latest transaction represents a value rise of $10.13 million, or 137 percent, in less than two years.

The Patrick is a backgrounding, breeding or trading operation that is fully exclusion fenced and can carry 1600 backgrounders. It also features double frontages to the Alice River and Patrick Creek.

Mr Kibble, who oversees a portfolio of rural properties across Queensland and New South Wales, said the sale of The Patrick was a strategic reallocation of capital to facilitate more broadscale investment in the agriculture sector.

“The Barcaldine area is excellent given its vicinity to livestock selling centres such as Roma and Dalby, where stock can be transported without the requirement for spelling,” he said.

“We are actively seeking a larger holding either in Queensland’s Central West or the Northern Territory which we will use to, along with our other breeding properties, feed stock into our backgrounding country at Glenmorgan,” Mr Kibble said.

In late 2019, the Kibbles also purchased the stud lease of the neighbouring 46,735ha Barcaldine Downs – one of seven outstanding grazing properties owned by Clark & Tait (one of the oldest remaining multi-family grazing partnerships in Australia) – which they will focus on improving.

The sale of The Patrick was handled by LAWD director Simon Cudmore.

Dean Arnaboldi from Allanard, south of Jericho, has paid a record $17.49 million ($1057/ha) for Barcaldine’s The Patrick, in central western Queensland.

 

$2m over reserve for NSW’s Somerset

A local producer has secured one of the Manning River Valley’s most respected rural properties for a record $8 million, or $8958/ha bare.

Located 20 minutes from Wingham or 3.5 hours north of Sydney, the 893ha Somerset features more than 5km of Manning River frontage, productive alluvial river flats and undulating grazing country.

Rob Chapman from Ray White Rural said Somerset achieved $2 million over reserve.

“The property attracted 200 inquiries, 40 inspections and 13 registered bidders, with both the buyer and under-bidder local to the area,” he said.

“It was a great confidence boost for grazing country in New South Wales’ Manning Valley. The successful purchaser lives in the Lower Manning and owns a 1400ha grazing property in the Cells River region.”

For the past 20 years, the Wallace family from Khatambuhl, north of Gloucester, has been using Somerset to fatten 350 steers each year.

At the time of sale, Mr Chapman explained that Somerset provides a scale of economy seldom found in the region.

“There are endless opportunities for agricultural and lifestyle pursuits, including beef or dairy farming, or growing high yielding crops and silage on the fertile river flats.”

Water on Somerset is secured by a permanent 92ml Manning River irrigation licence and 13 dams.

A local producer has secured Somerset, one of the Manning River Valley’s most respected rural properties for a record $8 million, or $8958/ha bare.

 

Roma grazing block makes more than $3.4m

A local family has secured a smaller grazing block close to Roma, in south west Queensland, for an undisclosed price.

Carl Warren from TopX Australia said the 817ha Meadowbank was passed in at auction at $3.4m and was sold in excess of that figure immediately after auction.

“I believe the market has peaked and the crazy rush from last year is over. There is certainly more sensibility in the market.”

Located 15km west of Roma in the heart of the Maranoa, Meadowbank boasts ‘true’ downs country with large open areas of highly productive Mitchell and Flinders grasses that can run a beast to four hectares.

The property is watered by a sub artesian bore and six dams. The Clarks and Bungewogorai creeks, which have seasonal waterholes, run through Meadowbank.

The property also features a lagoon ideal for stock watering and recreation.

Five cultivation areas are fenced off with around 75ha of loam to rich chocolate soils used for winter and summer cropping.

Up until two years ago, the Tite family ran a well-known farm-stay on Meadowbank, as well as a museum featuring local and national relics dating back more than 100 years.

https://www.facebook.com/watch/?v=1403243206780359

the 817ha Meadowbank was passed in at auction at $3.4m and was sold for a higher figure immediately afterwards.

 

Click here to access more property sales results

 

 

 

 

 

 

 

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