Weekly property review: Recently completed sales

Property editor Linda Rowley, 08/11/2023

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

  • CQ’s Kelinda passes-in for $18m
  • Scale & location in NSW’s Upper Hunter returns to the market
  • SA’s Redcliffe Station changes hands
  • $32m for western Queensland grazing country for carbon

CQ’s Kelinda passes-in for $18m

A quality grazing, farming and irrigation property in Central Queensland has failed to sell at auction, being passed-in at $18 million.

The 1319ha Kelinda is located 14km north of Moura and 84km west of Biloela, close to a cotton gin, GrainCorp and a number of saleyards and abattoirs.

Hourn & Bishop Qld agent Brad Hanson is now negotiating with interested parties after some were unable to participate on the day.

Historically, the property has produced cotton, winter cereals, grain sorghum, corn, pulse crops, millet and forage sorghum for hay production in a 632mm of annual rainfall region.

Owned by the Hosking family for ten years, Mr Hanson said Kelinda is renowned for its efficient productivity and sustainable farm management practices.

“Kelinda has been developed to capitalise on its abundant natural attributes and together with sustainable farming practices, produces consistent, cost effective and high yielding crops,” he said.

Kelinda offers 3705ML of harvestable water from the Dawson River (which forms the western boundary) and Mimosa Creek systems, supported by 2580ML of on-farm water storage.

Improvements include a new four-bedroom home, self-contained workers quarters, a machinery shed and 375-tonnes of on-farm grain storage.

Scale & location in NSW’s Upper Hunter returns to the market

A 3310ha low input grazing property in the Upper Hunter Valley region of New South Wales has returned to the market after being passed-in at auction for $12 million.

The 2209ha Summer Hill and 1104ha Rosedale, 32km from Cassilis and 70km from Mudgee, have been aggregated over the past 24 years by the Richardson family.

The estimated carrying capacity is 800 to 1000 breeders, with the current operation running 800 trade cattle. In good seasons, the property has run up to 1700 trade cattle.

The country on Summer Hill and Rosedale ranges from gently undulating grazing to more open areas, with a potential farming upside of around 1000ha previously sown to wheat and oats.

The soils range from heavy basalt to lighter basalt soils and some lighter sandy loams growing native pastures, rye and clover.

Situated in a 620mm average annual rainfall area, the aggregation is well watered by 13.6km of Munmurra River frontage as well as 34 dams.

Summer Hill has a six-bedroom home, steel and timber cattle yards, a five-stand shearing shed and yards, numerous sheds and five silos. Rosedale has a three-bedroom home, three sheds, steel cattle yards and six silos.

Elders agent Chris Malone and Ray White Rural agent Hamish Firth are handling the sale.

SA’s Redcliffe Station changes hands

A South Australian sheep, wool and goat operation with an established tourism business has sold to the Wilson family from the state’s mid-north.

Elders agent Miles Cockington was unable to disclose the price paid however it is believed to have achieved a similar value to the neighbouring 6430ha Nolan’s which sold two years ago for $342/ha.

The 24,410ha Redcliffe Station is situated at Warnes in the renowned lower north-east, 63km east of Burra, 55km west of Morgan and 195km north-east of Adelaide.

Situated in a 225-250mm annual rainfall region, Redcliffe has a carrying capacity of between 9000 and 10,000DSE.

The country features open grasslands ideal for a ewe base breeding program, combined with an established feedlot to finish any excess stock for market.

It is covered with saltbush, blue bush, native speargrass, bindi and native clovers, as well as sugar woods, native apricots, rosewoods (bullock bushes) and balah trees (black oak).

Redcliffe has two stone homesteads that are 12km apart, a shearers quarters, a six-stand shearing shed, five sheep yards and a workshop facility.

The southern block known as Oakleigh has a 3000 head feedlot with easy access to the Burra/Morgan Road.

Permanent water is supplied by six bores with an extensive network of poly pipeline. This is supported by 16 dams and several smaller opportunistic dams.

Oakleigh has a 3000 head feedlot with easy access to the Burra/Morgan Road.

$32m for western Queensland grazing country for carbon

Carbon investor Pastoral Partners Australia has paid about $32 million for Vaughn Houlahan’s Honeymah and Wongalee aggregation in south western Queensland.

The purchase is Pastoral Partners’ largest since the investment company was launched last year.

The purchase of the 32,000ha property between Bollon and St George takes the value of Pastoral Partners’ portfolio to about $140 million covering about 150,000ha, according to a report in the AFR.

Pastoral Partners is owned by New Zealand infrastructure investor Morrison & Co, which has $27 billion of assets under management including investments in airports and renewable energy.

In September, the fund paid $17 million for a 14,000ha property near Bollon and in October, another $30 million for the 25,650ha Weonia and Sunset Valley aggregation west of Bollon.

Honeymah and Wongalee, which can carry about 5500 cattle, are expected to settle before the end of the year.

Pastoral Partners chief executive Deion Campbell told the Financial Review the company would have a carbon project registered on the property before the end of the year.









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