Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, 25/05/2022

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

  • $20m+ for five Darling Downs backgrounding blocks
  • Blue chip QLD western downs holding makes $13.5m
  • Three northern NSW blocks make close to $20m
  • NT development opportunity makes $8m

Duck Ponds was one of a collection of five productive grazing and cropping properties in southern Queensland which made in excess of $20 million

$20m for five Darling Downs backgrounding blocks

Productive grazing and cropping country in southern Queensland with the added benefit of passive income has made in excess of $20 million.

Minjara, Old Marmadua, Duck Ponds, Waterside and Brentleigh were brought to the market in August last year by QGC (previously Queensland Gas Co), one of Australia’s leading natural gas producers owned by Royal Dutch Shell.

The five properties, ideal for backgrounding, are located in the Dalby and Chinchilla districts on the Darling Downs, close to the largest concentration of commercial beef cattle feedlots in Australia.

All have established coal seam gas infrastructure providing purchasers ongoing passive income payments under existing Conduct and Compensation Agreements.

Roma-based YLE Grazing has paid $4.8 million for Minjara and Old Marmadua spanning almost 7000ha.

The 4794ha Minjara is a large-scale timbered grazing property 35km southwest of Dalby. With a mix of open and timbered grazing, it is suited to cattle, sheep and/or goat production. Good stands of ironbark and other timbers may provide for a diversified income stream with timber harvesting.

The 2194ha Old Marmadua, 62km from Dalby, is mostly open to timbered buffel grass grazing country. The property has the benefit of quality brigalow soils in the northern portion with 130ha of developed cultivation. Additional areas could be brought into grain or fodder production to compliment the grazing.

TAJ Investments paid $9.5 million for the 1690ha Duck Ponds, a mixed farming property located 22km southwest of Dalby. Around 828ha is under cultivation, with the balance mixed grazing.

Alli Rose Dougall from Netherby has paid almost $5.832 million for neighbouring grazing properties Waterside and Brentleigh.

The 2395ha Waterside is located 24km south of Chinchilla. It features a mix of brigalow/belah melonhole country to lighter and sandy loams areas along the Wambo Creek.

The adjoining 427ha Brentleigh boasts 99pc CatX (white) RVM and has excellent stock water and boundary fencing.

The sale of the five properties was handled by Phillip Kelly from Colliers Agribusiness, and Knight Frank Agribusiness.

 

Blue chip QLD western downs holding makes $13.5m

Gavin and Helen Dales from The Gums have paid $13.35 million ($4012/ha) for the blue-chip western downs grazing enterprise Doogalook.

The 3327ha EU accredited property, 10km south of Meandarra, breeds, fattens and backgrounds cattle. It also has mixed farming and cropping capabilities with established cultivation areas for oats and forage production.

Doogalook has been held by the Waugh family for 10 years. During that time, they have developed it into a productive and versatile property underpinned by good operational infrastructure.

When Doogalook was brought to the market in April, Clayton Smith from JLL Agribusiness described it as one of the region’s premier grazing properties.

“The fertile brigalow and belah soils are growing extensive stands of improved pasture, while the excellent infrastructure is underpinned by extensive shedding, two sets of yards, a homestead complex and efficient water reticulation,” he said.

Water is provided by a permanent waterhole in the Brigalow Creek, the Holme Creek, as well as eight dams.

Gavin and Helen Dales from The Gums have paid $13.35 million ($4012/ha) for the blue-chip western downs grazing enterprise Doogalook.

Three northern NSW blocks make close to $20m

Albertina

A family operation with northern New South Wales grazing interests has paid $7.6 million ($3591/ha bare) for New England property, Albertina.

Located at Ashford, 60km north of Inverell, the 2116ha holding features rich alluvial flats along its 7km frontage to the Severn River and runs back to granite and soft trap hills.

More than 16km of exclusion fencing has been completed, delivering increased stocking rates and weaning weights.

For the past 24 years, Albertina has been run as a low-input, high-output cattle breeding operation running 850 breeders, however there is scope to farm oats, lucerne and fodder crops.

Bruce Birch from Ray White Rural handled the sale and marketing.

Bambi

The Perry family from Trent Bridge Wagyu has paid $6.95 million ($7530/ha bare) for neighbouring reliable eastern falls grazing in northern New South Wales.

The 923ha Bambi is centrally located, 40km east of Guyra, 43km to Ebor and 54km to Armidale.

In recent years, the block has been run as a cattle-only operation with a 350 head breeding cow carrying capacity.

Bambi features mostly traprock soils, a pasture improvement program and excellent water security via a network of troughs, dams and creeks.

When the property was offered for sale in April it was destocked and carrying an abundance of grass.

While some of the country has been developed, further improvements in production could be achieved with additional inputs.

The sale was handled by Andrew Starr from Ray White Rural.

Stockton

A fourth-generation farming family from South Australia is making the move to northern New South Wales after securing the beef and sheep production powerhouse Stockton for $4.95 million (bare).

Shawn and Louise Cadzow from Jamestown have sold their sheep and cropping enterprise to take advantage of what George Barton from McCullough Agencies describes as “well priced properties in the New England.”

Mr Barton said it’s a big move for the family.

“They are leaving a 400mm rainfall region in South Australia and moving to an 800mm rainfall region in the New England. It is also a change of direction – from sheep and cropping into cattle.”

The 735ha eastern fall grazing property Stockton is situated on the Waterfall Way, 20 minutes east of Armidale and features fertile New England trap soils across an undulating landscape, with scattered mature trees.

Around 60 percent is arable and can carry 350 cows and calves, although this number could be lifted by improving the pastures.

Stockton is watered by 27 dams, springs and waterways, as well as a 17,500gal rainwater storage.

The cattle and sheep infrastructure are a feature. Stockton has a set of steel cattle yards, two sets of sheep yards and a five-stand woolshed with the wether shed holding 1000 head.

Stockton was sold jointly by McCulloch Agencies and Armitage & Buckley.

 

NT development opportunity makes $8m

Katherine’s Banjo Station, described by Ray White Rural as a “development opportunity”, has been placed under contract for $8 million to a New South Wales buyer.

The 57,800ha pastoral lease is situated 250km south west of Katherine, on the Sturt Plateau in the Northern Territory.

Banjo Station is a cattle enterprise that can run 3000 breeders with progeny to weaning. Further water development could potentially lift the carrying capacity to 4000 cows.

The pastoral lease also lends itself to growing a variety of cash crops or forage crop production.

Banjo Station has the potential for further development with a 6885ha clearing permit in place, with five years to run. Around 720 hectares have been stick raked, with 400ha planted to sorghum.

The property has several semi-permanent waters, as well as three bores that are reticulated to seven watering points. There is also potential for further watering points to be fed from these existing bores.

RWR selling agent Bruce Douglas was unable to disclose the name of the buyer or the price, which included plant and equipment.

Katherine’s Banjo Station, described by Ray White Rural as a “development opportunity”, has been placed under contract for $8 million to a New South Wales buyer.

 

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