Weekly property review: Recently completed sales

Property editor Linda Rowley 25/10/2023

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

  • NT’s Broadmere Station finally settles
  • CQ’s Morpeth makes $18.5m
  • High rainfall CQ country sells for $10.3m
  • Prominent Cobar family expands with Wirchilleba

The 259,000ha Broadmere Station, east of Daly Waters

NT’s Broadmere Station finally settles

Sydney-based Vietnamese investor David Do has paid $10.5 million (bare) for the Northern Territory pastoral lease Broadmere, owned by the late cattle baron Peter Sherwin.

Mr Do is the managing director of private equity firm Vietnam Investments Group.

He is also affiliated with Arthur Winston Investments, a boutique property investment and development company with multi-million dollar developments both here and in Vietnam.

Owned by Anh Tuan Do, AWI’s portfolio includes golf courses, hotels and resorts, commercial, residential and farming developments.

A month prior to his death in July 2019, Peter Sherwin offered the 259,000ha Broadmere to the market. He had purchased the holding in 2017 for $7 million bare.

JLL agent Geoff Warriner was appointed to sell Broadmere, pictured above, through an expressions of interest campaign. However it failed to sell and sat quietly on the market until this time last year when it was secured by Mr Do, with a delayed settlement.

This week, Mr Warriner confirmed the sale but was unable to confirm the buyer.

Located 250km east of Daly Waters and 250km west of Borroloola, Broadmere comprises a balance of open black soil plains and lightly timbered country to several escarpments typical of the NT gulf region.

It has secure water resources, including Limmen Bight River and October and Lansen Creeks.

When Broadmere was listed for sale four years ago, it was offered with a carrying capacity of 6500 adult equivalents. At the time, Mr Warriner told Beef Central, numbers could be increased with improvements to fencing, water and the undeveloped northern section of the property.

The station was marketed to smaller, private owners, neighbouring corporates as a bolt-on acquisition and eco-tourism or wilderness operators who could run helicopter flights to the impressive towering sandstone formations of the renowned natural sandstone Lost City.


CQ’s Morpeth makes $18.5m

The Ellrott family from Morinish, north of Rockhampton, has paid $18.5 million at auction for the Central Queensland bullock depot Morpeth.

The 4077ha property is located 62km south of Nebo and 155km from Mackay in the tightly held Valkyrie district.

Considering the seasonal conditions and the cattle market, RBV agent Matt Beard described the price as a very good result for a good piece of country.

It is understood the Ellrotts were seeking a steer depot to complement their existing breeding operations.

The mostly brigalow, blackbutt and coolibah scrub country on Morpeth has areas of sandy scrub soils and a small portion of black soil downs country.

When listed for sale in early September, Mr Beard said Morpeth was experiencing a good season.

“July rain has freshened up the country and (as a result) it is carrying a good stand of buffel, bambatsi, native pastures, seca and desmanthus that can background around 1500 steers.”

Mr Beard said as well as the calibre of country, Morpeth featured quality improvements and was well located to markets.

“It has a favourable vegetation map, well-planned fencing and numerous watering options which makes it easily managed.”

Situated in a 550mm long-term rainfall average location, Morpeth is securely watered by dams, bores and natural watercourses.

The infrastructure includes a six-bedroom home, a two-bedroom cottage, steel and timber cattle yards, various sheds and two silos with 150 tonnes of grain capacity.

The sale ends 30 years of ownership by Brendan and Anna Black.

Cattle on Central Queensland’s Morpeth


High rainfall CQ country sells for $10.3m

High rainfall country in Central Queensland has been split up and secured by two buyers for a combined $10.3 million.

The 1617ha Mondover is a breeding, backgrounding and finishing property situated on the Capricorn Coast’s high rainfall hinterland near Lake Mary, 15 minutes from Yeppoon.

A western grazing family purchased the 1358ha Mondover home block for $8.15m, while a Yeppoon resident purchased the 259ha Hopgoods for $2.15m.

The securely fenced country comprises mostly open flood-out and around 200ha of higher country and is watered by a chain of permanent lagoons and creeks, with the Daly Creek running through the middle of the property.

The sale was handled by Rod Harms from Rod Harms Rural and Virgil Kenny from Elders Rockhampton.


Prominent Cobar family expands with Wirchilleba

A prominent cattle, Dorper sheep and farming family headquartered south of Cobar is expanding its operations with Wirchilleba in New South Wales’ central west.

The family is believed to have paid close to $5.5 million for the 8419ha mixed organic livestock grazing and dryland farming enterprise, located 53km north of Mount Hope and 110km south of Cobar.

The country on Wirchilleba is described as highly regarded soft grazing with the fertile soils growing a variety of natives including copper burr, barley grass, cotton bush and clovers.

The property is carrying a good body of dry summer grass, with winter herbages in abundance supporting 850 cows and followers.

The well-developed, open cropping country is flat to slightly undulating with heavy red clay to sandy loams. There is 2633ha of mixed organic dryland farming with 1200ha sown to lucerne.

Watered by eight dams, two bores and 9ML of water entitlements, Wirchilleba benefits from a 6km flow from the Burthong Creek.

David Russell from Nutrien Russell Property & Livestock handled the sale on behalf of the vendors Phillip and Vanessa Bell who own the large-scale cattle breeding property Cooplacurripa Station in northern New South Wales.

The country on Wirchilleba is described as highly regarded soft grazing with the fertile soils growing a variety of natives








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