Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, November 13, 2019

Gundaline features a full suite of improvements including a four-stand shearing shed, steel sheep yards, steel cattle yards, workshop, two machinery sheds and 260 tonnes of silo grain storage. See item below

  • Stratham family heads for next development project in FNQ
  • Buratovich family secures third NT property
  • Locals secure Riverina’s Gundaline for expansion
  • Historic Cooma block changes hands
  • Hunter Valley’s Templemore sells to a local

THIS week’s property review includes this summary of recent sales of note, and a separate article featuring recent listings across the country.

 Stratham family heads for next development project in FNQ

The Statham family’s Sundown Pastoral Co has paid $18 million for their next development project, the far north Queensland grazing property, St Ronans.

The successful family business has owned and developed multiple properties across northern New South Wales, focused on the large scale production of beef cattle, as well as irrigated cotton production, wheat, sorghum, pulse crops, lucerne and other forage crops.

In August last year, the Stathams sold their showcase 17,800ha Sundown Valley aggregation near Kingstown, west of Armidale in northern NSW – one of the state’s best known and largest-scale backgrounding and finishing operations. Buyer was Gina Rinehart’s Hancock Prospecting pastoral arm. No price was disclosed, but the holding has the capacity in typical seasons to background 40,000 cattle a year.

The 44,000ha St Ronans Station, near Mt Surprise, is owned by Cameron Burtenshaw and Sasha Bucknell. It has the ability to breed, background and fatten cattle, as well as produce grain or forage crops, improved pastures and leucaena. The country is described as an excellent mix comprising 55 percent red and black basalt soils, 15 percent red and yellow lateritic remnant soils with the balance being open forest granite country.

When St Ronans was listed three years ago, about 2500ha of fertile basalt country had been cleared. It is understood a further 3200ha has been cleared by the new owners and the area is now being stick-raked.

A feature is the spring-fed Mero Creek that flows through the property and joins the Lynd River flowing north through the adjoining Springfield Station. It is also watered by the Lynd River, dams, springs and swamps, and six bores.

St Ronans has a carrying capacity of 6000 breeders with followers, and boasts a 12 pen, 2000 head feedlot with approval for a 10,000 SCU facility.

The sale of St Ronans was handled by Landmark Tolga and is believed to have included several thousand head of quality Brahman cross cattle.

Originally offered as part of a larger aggregation, the neighbouring Barwidgi, Amber and Springfield stations were not included in the transaction.

A feature is the spring-fed Mero Creek that flows through St Ronans, joining the Lynd River flowing north through the adjoining Springfield Station.

Buratovich family secures third NT property

In just six months, an Argentinian cropping company has paid almost $44 million for 550,000 hectares of cattle country in three parcels near Katherine in the Northern Territory.

Late last week, the Buratovich family paid $6.8 million for the 67,840ha Sturt Downs, including 1000 head of cattle, plant and equipment.

Located 70km from Katherine and boasting 11km of Stuart Highway frontage, Sturt Downs neighbours the 379,000ha Manbullo Station which the family purchased in May from Consolidated Pastoral Co for around $25 million in a sale and leaseback deal.

In August, the Buratovich’s purchased the adjoining 101,850ha Scott Creek, the former ‘trophy’ station once owned by the Sultan of Brunei, for around $12 million.

Their successful commercial and agricultural company, which specialises in cereals and oilseeds, was founded more than 100 years ago by Esteban Buratovich, an immigrant of Croatian origin.

The Buratovich website explains that the business is “currently developing new commercial alternatives that allow us to continue expanding our horizons, such as the export of cereals, oilseeds, other derived products, and the importation of agricultural supplies.”

The Buratovich family appears to be spreading its risk around the world, buying country elsewhere, including the United States.

Alison Ross from Elders Katherine handled the sale of both Sturt Downs and Scott Creek.

The Buratovich family has purchased their third Katherine district property, paying $6.8 million for the 67,840ha Sturt Downs, including 1000 head of cattle, plant and equipment.

Locals secure Gundaline for expansion

A Cootamundra family has paid $6.173 million ($8000/ha or $720/DSE) bare for the winter breeding and finishing powerhouse Gundaline in New South Wales’ prized Riverina.

After 20mm of rain, Gundaline presented with a good body of feed during the expressions of interest campaign run by CBRE Agribusiness.

Located 12km south-west of Cootamundra and 68km north-east of Wagga Wagga, Gundaline (pictured at top of page) spans 772ha and consists of 247ha grazing canola, 194ha oats/rye grass, 56ha oats and 272ha perennial native grass and clover pastures.

Previously, the property ran 400 breeders plus progeny. Today, it is running 1000 trade cattle and 500 Merino ewes joined to terminal sires.

Gundaline features a full suite of improvements including a four-stand shearing shed, steel sheep yards, steel cattle yards, workshop, two machinery sheds and 260 tonnes of silo grain storage.

It is watered by 28 dams with extensive catchments and storage capacities which provide reliable stock water.

At the time, selling agent Col Medway explained that Gundaline also had a biodiversity stewardship agreement under consideration.

“The property has native timber that could be an environmental offset. This would provide a significant passive income stream available to any incoming buyer,” he said.

Historic Cooma block changes hands

James Larritt, from a well-known Monaro district grazing family at Cooma, has paid $4.63 million for the tightly-held Monaro district property Curry Flat.

The historic grazing and farming operation achieved above its $4m to $4.4m expectations, after spirited bidding at auction.

Having been held for five generations by the Jardine family, the 1262ha block was carved off the original station by Hamish and Liz Jardine.

It features the slab home of William Jardine, who arrived in Australia from Scotland in 1841, and the grander, architect designed country mansion built in 1866.

Curry Flat is located 10 minutes west of Nimmitabel and 35 minutes south of Cooma.

It boasts fertile and productive black alluvial basalt and chocolate basalt soils, 4km of double frontage to the Bobundara Creek, as well as two creeks, a bore and 10 dams.

The sale of Curry Flat was handled by David Nolan from Webster Nolan Real Estate and Will Dixon from Monaro Livestock and Property.

There was strong pre-sale interest in historic grazing and farming property Curry Flat in NSW’s tightly held Monaro district

Hunter Valley’s Templemore sells to a local

The well-known Merriwa district property Templemore has sold for around $4m to $4.75m to a local farming family for expansion.

Owned and operated by Hunter Valley irrigation pioneer, the late Keith Yore and his family, the 1373ha property is highly regarded as breeding and backgrounding country, suited to both sheep and cattle.

While the Yores concentrated on the production of beef cattle (around 400 cows and calves and fatten progeny), Templemore would also suit a Merino wool growing or crossbred prime lamb operation.

The versatile mixed farming and grazing holding is located within easy reach of Merriwa and 79km from Denman.

Templemore consists of productive heavy chocolate and black basalt soils, undulating to low hill country, mainly easterly aspect and with open sheltered valleys.

It has a 1km frontage to the Krui River and boasts an extensive water reticulation system supplying 48 livestock troughs.

Templemore was sold by David Nolan from Webster Nolan and Muswellbrook-based John Flood from Flood Rural and Water.

The 1375ha Templemore is highly-regarded as breeding and backgrounding country, suited to both sheep and cattle.

 

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