THIS week’s property review includes a wrap up of recently completed sales, and a separate article on interesting recent listings across the country.
- Locals secure Condamine River Portfolio
- Carson family portfolio split between three locals
- Roma family secures Wallumbilla’s Perola Park
- Mitchell producers expand with Attica
- Two NSW western division holdings sell prior to auction
- Historic Guyra blocks sell under the hammer
- Launceston producer secures award winning Glen Stuart
- Local business secures Tasmania’s Snowhill
- Versatile grazing in southern Qld makes $3.7m
- Well located Charters Towers cattle block changes hands
Locals secure Condamine River Portfolio
Ten local producers, including a large stud operator, have paid in excess of $30m for the 4447ha Condamine River Portfolio in southern Queensland’s Western Downs region.
Comprising nine non-contiguous holdings, the portfolio is located 15km south-east of Chinchilla and 80km west of Dalby in the Hopelands, Boonarga and Brigalow districts.
The properties were listed in November last year by Aberdare Collieries (a wholly owned subsidiary of CS Energy), the owner of the Kogan Open Cut Coal Mine in the Surat Basin.
The sale was brokered by CBRE Agribusiness agent Edward O’Dwyer who was unable to disclose the price paid or the buyers, but said they ranged from small family farmers to large stud operators.
“CS Energy was determined to sell the portfolio to high calibre local producers with deep connections to the Condamine River and the greater Chinchilla district who will continue as custodians of the land.”
Featuring 16.5km of Condamine River frontage, each of the nine properties has direct access to the water.
In addition to on-farm water storage, there are water licences or allocations available for some aggregations, as well as various supporting infrastructure and structures.
When the Condamine River Portfolio was offered to the market late last year, Beef Central was told all aggregations were considered farming properties and were not impacted by CS Energy’s operations, including coal mining.
North of the Condamine River, the holdings include:
- North 1 Aggregation – 183ha Ebony
- North 2 Aggregation – 399ha McCutcheons and Fayes
- North 3 Aggregation – 387ha Rodgers, Forest Park, Boonarga and Craigmore
- North 4 Aggregation – 336ha Jones, Dandaloo and Bendaloo
On the south side of the river, the holdings include:
- South 1 Aggregation – 663ha Forteseven and Sunnyvale
- South 2 Aggregation – 881ha Wilga Hill, Mi Von and Glen Wilga
- South 3 Aggregation – 539ha Riverview
- South 4 Aggregation – 665ha Cloverdale and Strathmore
- South 5 Aggregation – 395ha Glengarry and Teran
Carson family portfolio split between three locals
After almost 50 years of ownership, the Carson family’s southern Queensland livestock and cropping portfolio has been split up and sold to three local families.
Comprising three properties spanning 18,180 hectares, the adjoining 6777ha Ooraine and 5258ha Somerset are operated as one hub and the 6144ha Hooloovale runs as another.
Situated 35km from Dirranbandi in the Balonne region, the portfolio was offered for sale in one line or as separate assets by expressions of interest.
The adjoining 6777ha Ooraine and 5258ha Somerset have been developed for both sheep and cattle with an estimated carrying capacity of 15,500 dry sheep equivalents or 1840 adult equivalents.
The country features productive soil types and meandering black/grey soil coolibah floodplains which transition to open woodlands. Water is provided by a shared bore.
The 6144ha Hooloovale, upstream of Cubbie Station, features 471ha of irrigation underpinned by substantial water resources and upgraded pumping infrastructure.
There are also extensive controlled flood out grazing areas suitable for potential dryland/irrigation development.
JLL Agribusiness was unable to disclose the purchase price or the name of the buyers but reported strong domestic and foreign interest.
Director Chris Holgar said it is encouraging to see private buyers consistently competing at levels of value which might have almost been seen as reserved for institutions.
“It is a trend that owes its origins to the pandemic, fuelled by logistical challenges of travel, the re-weighting of portfolios and many institutions taking a wait-and-see approach to its impact.”
“Domestic buyers can often settle more quickly and pose less executional risk for the vendor,” Mr Holgar said.
Roma family secures Wallumbilla’s Perola Park
Wallumbilla’s Perola Park has sold under the hammer for $10.075m ($5487/ha bare) to a Roma family expanding their existing cattle operations.
The 1836 hectares of breeding, backgrounding and fattening country are situated 24km north of Wallumbilla and 65km from Roma, in south-west Queensland.
The sale ends more than 90 years of ownership by the Cormack family.
Carl Warren from TopX Australia said in the current market, the price exceeded expectations.
The EU accredited Perola Park is located in a tightly held area with a safe and reliable rainfall.
It features highly fertile brigalow, belah, bottletree, wilga and kurrajong country running to creeks and ranges of box and narrow leaf ironbark.
The prime Wallumbilla country is renowned for consistently producing high weight gain cattle. Perola Park is currently running around 450 head of mixed cattle.
Water is provided by 11 dams, a solar equipped bore and an equipped share bore.
Mitchell producers expand with Attica
Mitchell producers Grant and Jane Maudsley, Nalpa Downs, have expanded with cattle breeding and backgrounding country in south-west Queensland.
The 21,931ha Attica, 122km north-east of Augathella, was offered by the Petfield family after more than 20 years ownership.
Peter Elmes from Allied Markets was unable to disclose the price but said the property sold for above expectations.
Since 2002, the Petfields have undertaken significant development works to improve management practices and productivity. More recently, they have repulled around 800ha and burnt and seeded 1200ha.
Attica features a mix of box, cypress pine and ironbark sandy forest country growing native and buffel grasses that can run 1800 backgrounders or 900 cows and calves.
Located in a 675mm rainfall region, the property is watered by 24 dams, two bores, plus temporary creek waterholes.
Two NSW western division holdings sell prior to auction
Two neighbouring New South Wales western division grazing properties have been snapped up prior to auction for carbon and grazing.
The 20,406ha Delta and the 9230ha Yandaroo are situated 70km and 80km west of Bourke.
Greg Seiler from Nutrien Harcourts Bourke was unable to disclose the price paid or the buyer, but it is understood to be a family farming operation with strong connections to Bourke.
Mr Seiler said during the marketing campaign, the carbon opportunity on Delta had generated tremendous inquiry.
“The property has a large, uncontracted HIR project that will produce significant credits in the future. This means the credits can be sold on the open market or aggregated and offloaded at a later time.”
The Davis family has owned Delta for 63 years running a merino sheep and cattle operation that annually averages 4000 ewes and 100 cows. In recent years, the income stream has been diversified with goats and carbon.
There is a good mix of grey floodplain soils running into red soils growing native grasses, herbages and salines.
The slightly undulating country with ironstone ridges acts as a watershed for the Willaroo and Yandaroo Lakes and watercourses. Water security is supported by Warrego River frontage, dams and bores.
The Davis family purchased Yandaroo 80 years ago and has been running a merino sheep and cattle operation averaging 2000 ewes and 55 cows, with the addition of goats in recent years.
Like Delta, the flat to slightly undulating country comprises productive grey soils along the Warrego and Poison Point Plain flood out country running back into soft red soils growing native grasses, herbages and salines.
Yandaroo is also watered by Warrego River frontage, dams and bores and over the past 10 years, the fencing has been extensively renewed.
Vendors Garth and Mary-Lou Davis will now relocate to their country at Yeoval.
Historic Guyra blocks sell under the hammer
Two historic eastern fall grazing blocks in northern New South Wales have sold under the hammer ending six generations of ownership by Guyra’s well-known Wilkinson family.
The 346ha Chandlers Peak, 15km east of Guyra, sold to neighbours Andrew and Hannah Coddington for $6.67m.
The 576ha Messines (including the 126ha Part Trigaire), 31km east of Guyra, sold to near neighbours David and Penny Grills for $6.05m or $10,503/ha bare.
Located 15km apart, both holdings have a 45 to 48 year super history with an emphasis on long-term pastures, and are carrying a tremendous body of feed after being destocked since late February.
Chandlers Peak, affectionately known as ‘The Peak’, is described as a production powerhouse that runs 800 ewes and progeny alongside 160 head of cattle.
Ninety percent of the property is arable, with flat to undulating deep black basalt and some red basalt soils.
It is watered by the Wollomombi River, the Boundary Creek and 28 spring-fed dams.
Ideally suited to breeding or fattening, Messines is estimated to run 370 breeders plus replacements.
It has traprock soils with slaty outcrops, Aberfoyle River frontage and 20 dams.
Craig Thomas from Colin Say & Co handled the sale of Chandler’s Peak and Messines.
Launceston producer secures award winning Glen Stuart
A local producer has secured a prominent super fine wool property in northern Tasmania described as a once in a lifetime opportunity.
The 1823ha Glen Stuart is situated near Nile, 15 minutes from Evandale and 25 minutes from Launceston.
Michael Warren from Nutrien Harcourts Tasmania was unable to disclose the buyer or the price paid.
Glen Stuart was offered to the market by the Phillips family after 24 years of ownership.
Over recent years, the vendors have conservatively managed the property by running up to 4000 Saxon Merinos on the open native grass (semi-improved) and bush country.
Glen Stuart is well known for producing super fine wool (13.5 to 16 microns), achieving record prices and numerous accolades for individual fleeces.
Titles include five national Zegna trophies, the New England Wool Ultimate Clip Competition and two Australian Superfine Wool Growers Association Champion Fleece awards.
Situated in a 700mm average rainfall region, Glen Stuart enjoys more than 3km of Nile River frontage and is watered by dams, springs and waterholes. A 500mgl water licence was included in the sale.
Local business secures Tasmania’s Snowhill
A local business family has secured a large well known Tasmanian wool growing property that was offered with a $3m to $4m price guide.
Owned by Joan Gee and her late husband Tony, the 1475ha Snowhill is located at Royal George near Avoca, 100km from Launceston and 50km from the east coast.
It boasts a 2km frontage to the St Pauls River and a mix of improved and native pastures running 2000 Saxon merinos that produce high quality superfine wool.
Snowhill has cropping potential, giving the incoming purchaser the opportunity to further develop the property with dam sites and irrigation.
Michael Warren from Nutrien Harcourts was unable to disclose the buyer or the price paid.
Versatile grazing in southern Qld makes $3.7m
Robbie and Donna Brown, Milgarra, Moonie have paid $3.7m ($3656/ha bare) at auction for a versatile breeding, backgrounding or fattening block in southern Queensland.
The 1012ha Burigala offers highway frontage, 24km east of Moonie and 90km west of Dalby – close to major selling centres and feedlots.
Offered with a good body of feed, the property features a good balance of country – mostly brigalow belah melon hole, with improved pastures and natural grasses.
It is well-watered by nine good-sized dams.
Nutrien Harcourts GDL agent Andrew McCallum handled the sale of Burigala.
Well located Charters Towers cattle block changes hands
A well located, low-cost cattle enterprise in north Queensland has sold for around the $3.65m asking price.
Henry Slaney from Slaney & Co was unable to disclose the price paid or the buyer, but it is understood to be a non-local.
The 6914ha Percy Springs is 28km from Charters Towers and features a mix of fertile creek frontage and sandy and gravelly soils.
The improved pastures, including buffel and native perennials, can carry between 500 and 600 breeders or adult equivalents.
In the centre of the property there are patches of lancewood and spinifex country which offer useful dry weather feed reserves.
For many years, the vendors have conservatively managed Percy Springs by understocking, spelling and rotationally grazing paddocks.
Percy Springs is watered by seasonal creeks, including the Hann, Percy and Gaines, waterholes and springs, together with six bores and eight dams.