Weekly property review: Recently completed sales

Property editor Linda Rowley, 04/10/2023

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

  • $130m for three CQ Qld properties
  • Blue ribbon backgrounding in southern Qld fails to sell
  • Isisford’s Linamar passed-in at $10.1m

Grey Brahman cows and calves on Apis Creek, near Marlborough

$130m for three CQ Qld properties

In the latest Herron Todd White Monthly Review, Central Queensland valuer Richard Beezley said despite rising interest rates and softer beef prices, there is still activity throughout the Central Queensland property market at all price points.

“Although the fear of missing out is gone, equity and scarcity are still strong factors influencing the market.”

Mr Beezley said this was highlighted by three recent transactions, which occurred over an eight-week period, with a combined value of around $130 million.

“Although full sale details remain confidential, the sales tell a story of the current market conditions and display the shuffling of money through the market.”

Beef Central can reveal that Evan Acton from Australian Cattle and Beef Holdings, Millungera Station, north of Julia Creek, sold the 11,331ha Rugby Run, west of Moranbah for an undisclosed price to Central Queensland producers Richard and Dyan Hughes and family, Wentworth Cattle Co Clermont.

Wentworth Cattle Co operates a group of North Queensland properties running Wagyu and crossbred cattle including Wentworth near Clermont, Strathalbyn near Collinsville and Bluevale, near Nebo.

Rugby Run is also the site of Adani’s Rugby Run Solar Farm, the eighth largest in Australia with some 247,000 solar panels

According to Mr Acton, Rugby Run is capable of running 3000 head of cattle or 3500 in a good year.

Last Friday, Mr Acton took delivery of Tim and Lynette Olive’s 21,000ha Apis Creek Station that fronts the Mackenzie River, west of Marlborough in Central Queensland.

While the price is undisclosed, it is rumoured to have sold for between $55 million and $65 million.

Mr Acton told Beef Central, the sale included 500 steers but Apis Creek can run around 5000 backgrounders.

“We needed more country to background steers from Millungera Station, north of Julia Creek, and decided to upscale with Apis Creek,” he said.

Mr Acton said like the north-west Queensland breeding country, Apis Creek had experienced a good season but is drying off now, much like everywhere else.

“With predictions of drier conditions, the family thought it was a good idea to invest in country closer to the coast and to meatworks at Teys Lakes Creek and Biloela, JBS Rockhampton and NH Foods Mackay.”

Mr Acton said the 2000 SCU feedlot on Apis Creek was also a drawcard.

Apis Creek will be managed by Mr Acton’s son Robert and wife Adele and their family.

Back in August, Apis Creek owners, the Olives, paid more than $21 million (a new record price for the district) for the 2826ha Lucky Dip – renowned grazing and farming land in Central Queensland’s tightly held Moura and Bauhinia districts.

Lucky Dip is a balance of gently undulating land types ranging from brigalow, belah, blackbutt country to areas of softwood scrub and heavier black soil, brigalow country.

The fully developed country is growing an abundant body of buffel, rhodes and green panic grasses suited to backgrounding cattle, cropping or fodder production.

Situated in a 625mm annual rainfall area, the property is watered by five dams, a bore, several small creeks and semi-permanent waterholes.

Since being cleared in the 1960s, all of Lucky Dip has been cultivated at some time.

There is around 450ha of sorghum stubble and more than 100ha of cultivation ready for re-farming or sowing back to pastures.

Improvements include two homes, sheds, cattle yards and 600t of grain storage.


Passed-in: Blue ribbon backgrounding in southern Qld fails to sell

A southern Queensland blue-ribbon backgrounding property has passed in at auction for $17.5 million, with Elders agent Jon Kingston now negotiating with interested parties.

The 10,074ha exclusion fenced Bona Vista is situated 70km from St George and halfway between Roma and Mitchell.

Held by retiring vendors Lance and Margie Fox since 1997, the property is well located, close to markets and feedlots.

Mr Kingston said Bona Vista would complement a large-scale cattle operation.

“The good middle ground country would suit producers wanting to bring cattle from the west to the east or from the north to the south.”

Around 60 percent of the country consists of self-mulching black soils, with the balance comprising lighter red loams.

Grasses are mostly buffel and Mitchell with some areas planted to improved pastures running around 2500 adult equivalents.

Bona Vista is divided into 18 paddocks all connected with a well-designed laneway system for ease of handling.

Timbers are largely brigalow and belah with a mix of myall, box, wilga, sandalwood and coolibah. There is a small area of mulga on its western boundary.

Around 2430ha of cultivation country has previously grown oats or improved pastures with 200ha currently prepared for leucaena planting.

Bona Vista is watered by an artesian bore and 16 dams.

The infrastructure is described as excellent and includes two homes, a machinery shed, two sets of steel cattle yards and an airstrip.


Isisford’s Linamar passed-in at $10.1m

Nutrien Harcourts GDL agent Andrew McCallum is negotiating with interested parties after Will and Marcelle Chandler’s central western Queensland country passed-in at auction for $10.1 million.

The 15,346ha Linamar is located 47km south of Isisford and 120km south-west of Blackall.

The exclusion fenced property (except for the channel country which is protected by the neighbour’s exclusion fence) is conducive to breeding, growing and finishing around 800 breeders or sheep and/or goat equivalents.

Linamar has a diverse balance of country offering a natural smorgasbord of grasses, herbages, and salines suited to cattle, sheep and goats, which have been recently introduced.

The sweet pebbly country features loamy undulating downs and areas of black soils that are heavy carrying. It is growing Mitchell and blue grass, Flinders and buffel, with a large percentage pulled over the last three years.

A new bore was put down in January 2021, delivering water to a large cooling tank that gravity feeds to troughs and tanks across the property.

This is supported by numerous sub-bores, dams and semi-permanent waterholes in creeks channels.

The infrastructure includes a six-bedroom home, separate cattle, sheep and goat yards with drafting and loading facilities, an eight-stand woolshed and various sheds.

The sweet pebbly country in Linamar features loamy undulating downs and areas of black soils that are heavy carrying. It is growing Mitchell and blue grass, Flinders and buffel.





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