Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, 25/01/2023

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

  • $60m for Wandoan grazing aggregation
  • QLD’s Sedgeford makes $94m WIWO
  • Local secures premier Gundagai grazing for $28m
  • Knudsens pay $25m for Chinchilla’s Auburn Station
  • Wandoan’s Kooroora settles for $14m+
  • CQ family secures Daintree River grazing & farming

Watering point on QGC’s heavily improved Greenacres, southwest of Wandoan

$60m for Wandoan grazing aggregation

A New South Wales producer with existing landholdings in Queensland’s Western Downs region has paid around $60 million for a large-scale backgrounding and finishing aggregation at Wandoan.

Offered for sale by natural gas producer QGC and leased for backgrounding to Stanbroke Pastoral Co for the past six years, Ewingsdale, Lucky Downs and Greenacres span 15,522ha and can carry up to 5500 adult equivalents.

The three adjoining, well developed properties are situated 40km south-west of Wandoan – all within easy reach of major livestock selling centres and beef cattle feedlots.

Phillip Kelly, spokesman for selling agents Colliers Agribusiness and Knight Frank Agribusiness, was unable to disclose the buyer or the price, however it is understood the three properties sold for around $60m.

The properties attracted strong interest from local producers seeking expansion and larger scale family and corporate entities chasing scale and production opportunities.

Ewingsdale

The 5178ha Ewingsdale is the most southerly of the three properties. The country consists of undulating brigalow/belah softwood scrub running through to productive flats. Buffel grass is dominant with Rhodes grass on the flats. The property is watered by four bores, 15 dams plus seasonal holes in creeks.

Lucky Downs

The 5636ha Lucky Downs is north of Ewingsdale and south of Greenacres. Extensive land improvements include 775ha under perennial silk sorghum. The country consists of undulating brigalow/belah softwood scrub with poplar box rising to low hills with spotted gum. Pastures include buffel, Rhodes, green panic and blue grass. It is watered by six bores, 19 dams and seasonal holes in creeks.

Greenacres

The 4707ha Greenacres, pictured also at top of page, is north of Lucky Downs and features prolific buffel grass. The country consists of undulating brigalow/belah softwood scrub with ironbark, areas of spotted gum and low cypress pine hills. Water is provided by two bores, seven dams and seasonal holes in creeks.

Each property has an established coalseam gas infrastructure providing purchasers ongoing passive income payments under existing conduct and compensation agreements.

 

QLD’s Sedgeford makes $94m WIWO

The price paid for Sedgeford has been disclosed two months after Charters Towers based David and Gina Kane secured the large-scale breeding and fattening operation in Queensland’s central-west.

The Kanes are Wagyu breeders who own Mirtna Station west of Charters Towers, as well as two blocks near Bauhinia Downs and country at Bell.

In November last year, Brad Hanson from Hourn & Bishop Qld was unable to disclose the price, but reliable sources told Beef Central Sedgeford sold for between $70m and $100m.

Beef Central can now reveal the Kanes paid $94m walk-in walk-out. The underlying land value was $82m or $1695/ha. A further $12m was paid for 5500 head of mixed livestock and an extensive list of station plant.

Situated 35km southeast of Alpha, the 48,370ha holding can run 7000 mixed cattle.

Featuring strong cattle country, Sedgeford has gently undulating heavy black soils, fertile pebbly ridges to red sandy loams growing brigalow, blackbutt, bauhinia, box, iron bark and bloodwood.

The property has 30km of dual frontage to the Native Companion Creek and 51 dams.

Country in Sedgeford

 

Local secures premier Gundagai grazing for $28m

A local family has paid $28 million for the premier Gundagai grazing holding Wandeen held by the Nicholls family for the past 120 years.

The 2056ha property is ten minutes from Gundagai and 35 minutes from Cootamundra and Tumut in the south-west slopes region of New South Wales.

David Nolan from Webster Nolan Real Estate and Jim Saunderson from Elders Gundagai managed the marketing campaign which produced around 100 enquiries and 16 inspections.

After a total of 46 bids and a strong bidding dual between two families with grazing interests in the district, Wandeen sold for $28m.

Equally suited to cattle or sheep, the property is running a 400 head Shorthorn cow and calf operation and a 5000 head Merino ewe and lamb enterprise.

The breeding and finishing property has a sound fertiliser history, with some arable country suitable for cash cropping and fodder production.

Wandeen fronts the Burra, Bongongolong and the semi-permanent Jerusalem Creeks and is watered by 16 dams and three bores.

 

Knudsens pay $25m for Chinchilla’s Auburn Station

Peter and Shari Knudsen from Coondarra, Chinchilla, have paid more than $25 million for the neighbouring Auburn Station on Queensland’s western downs.

The 11,466ha property was offered for sale prior to Christmas by Rawdon Briggs and Phillip Kelly from Colliers Agribusiness and immediately attracted strong local interest. The property sold less than a fortnight later.

Auburn Station is an ideal breeder block with backgrounding capacity located close to the Roma and Dalby selling centres, with access to major beef feedlots across the Darling Downs.

It features extensive pasture development, new fencing and a premium water supply and distribution system.

In March 2020, the Knudsens paid between $8m and $10m ($982/ha – $1227/ha) for the 8147ha Mt Lonsdale at Mungallala in Queensland’s south-west.

In addition to Coondarra and Mt Lonsdale, the couple own two finishing properties in the Taroom/Wandoan district.

Auburn Station cattle

 

Wandoan’s Kooroora settles for +$14m

Quality scrub soil grazing in southern Queensland’s renowned Wandoan district has sold to Taroom’s Christiansen Ag, for more than $14 million.

The 1952ha Kooroora is 28km north-west of Wandoan and 44km from Taroom – a tightly held region that boasts productive and reliable finishing country.

Darryl Langton from Nutrien Harcourts who handled the marketing and the sale was unable to disclose the price paid, however, when Kooroora was brought to the market in August, the vendors were said to be considering offers above $14m.

The gently undulating country features brigalow, bottletree, bauhinia, belah, coolibah and softwood scrub soils established to buffel.

Creek flats along the Juandah and Roche Creeks are growing a mix of buffel and native grasses, as well as scattered box and gum.

Around 80 percent of the property has been stick-raked and blade ploughed, with areas previously contoured and farmed now returned to grass.

Vendors Laurie and Joan Jones had been finishing around 750 export weight heavy steers on Kooroora which were then sold to processors.

The property, pictured below, is watered by two shares in the Culgowie Community Bore Group, as well as 13 large dams.

 

CQ family secures Daintree River grazing & farming

A family from Queensland’s central west has secured a unique grazing and farming opportunity in the state’s far north for close to the $6 million asking price.

The 204ha Noli Farm straddles both sides of the Daintree River, fed from the 3000mm (120 inch) annual rainfall in the neighbouring heritage listed Daintree National Park.

Located on the Daintree River opposite the Daintree Village, Noli Farm is 36km from Mossman, 56km from Port Douglas and 111km north of Cairns.

Vendors Jim and Valme Noli claim the extremely fertile volcanic country in the Daintree region requires little supplementary feed and no pasture fertiliser input making it second-to-none for cattle liveweight gain.

Noli Farm finishes around 500 steers a year. It also grows taro (sweet potato), ginger, turmeric, pumpkins and watermelons.

Water on Noli Farm is sourced via natural waters, troughs and a licence from both a waterfall and bore.

Henry Slaney from Slaney & Co Charters Towers handled the sale which included plant and machinery.

Noli Farm near Daintree in Far North Queensland can turn over of around 500 steers-to-bullocks per year

 

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