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

• Prime CQ finishing country makes almost $50m
• $26m+ for high carrying capacity country in Qld’s Maranoa
• Seawrights expand with two Roma properties
• NQ’s Barragunda passes in at $9.25m

 

Prime CQ finishing country makes almost $50m

Rockland Spring in the heart of Queensland’s Central Highlands has sold to a local family for a stellar $48.25 million.

The 10,210ha of prime finishing country is located 56km south of Blackwater and 72km north of Rolleston, in a tightly held region renowned for first class developed scrub pastures.

The walk-in, walk-out sale, offered by Sam and Louise Staines after 60 years of ownership, included 3000 head of cattle plus plant. On a bare basis, it is estimated Rockland Spring achieved around $4000/ha to $4500/ha.

CountryCo agents Greg and Mick Hardgrave, together with Sullivan Rural agent John Sullivan, said the sale price achieved well above reserve.

“It was an exceptional price for a brigalow block in a tightly held district where properties rarely change hands. In the end, there were three spirited A-graders bidding for the property,” Greg Hardgrave said.

At the time of sale, Rockland Spring was presenting with a strong body of feed with the vendors placing a large emphasis on improved pastures capable of running 3500 adult equivalents.

The country comprises:

• 6200ha of developed scrub pastures (brigalow and blackbutt country)
• 3000ha of developed tableland country (ironbark, wattle and some scrub) with the odd bottletree
• 500ha of lancewood, spinifex and ironbark country
• 500ha of escarpment which forms a natural boundary to the east (the Shotover Range is part of the Blackdown National Park).

Water is secured by more than 50 dams (six are fully equipped). The Rockland Spring runs for 8km from the property’s north-east corner to the home, cottage and yards.

Improvements include a four-bedroom home, a three-bedroom cottage, a two-bedroom donga, numerous sheds and two cattle yards.

 

$26m+ for high carrying capacity country in Qld’s Maranoa

Injune’s Reade and Jill Radel and family from Kandoona Red Brahmans, Yebna, have paid $26.3 million ($5874/ha) at auction for high carrying capacity country in southern Queensland’s Maranoa.

The 4477ha Pamaroo is located 65km north of Roma in traditional bullock country renowned for being highly productive.

It was offered for sale by the Kadel family after 97 years of ownership.

TopX agent Carl Warren wasn’t sure what impact the GHPL (Grazing Homestead Perpetual Lease) would have on the sale price.

“Potential buyers could have deducted the current freehold conversion price (typically around 25 percent of the current unimproved land value) but in the end it equalled many freehold property prices achieved in the district,” he said.

While he described the price paid as outstanding, it was not a record.

In October 2022, Mr Warren sold nearby 9366ha Finsbury Park, 60km north of Roma, for $24.55m ($6478/ha). The traditional bullock country was capable of running around 1000 head of cattle and was also mostly contested by locals.

He said locals understood the quality and value of the country.

“The tightly held region is renowned for its reliability and consistency and above average seasons. The country is notoriously safe and held by successful generational families who can justify paying those values.”

Pamaroo has brigalow, bottle tree and belah country with undulating softwood scrub hills and sweet flats.

After a good start to the season, extensive areas are growing a large body of buffel and improved pastures estimated to run around 1100 cow and calves.

Pamaroo is watered by 23 dams, seasonal watering points from numerous gullies which flow through the property and three bores (only two are being used).

Infrastructure includes two four-bedroom homes, a four-bedroom demountable, two cattle yards and numerous sheds.

 

Seawrights expand with two Roma properties

Injune’s Peter and Sharon Seawright, Seawright Investments, have paid $10 million to expand with adjoining Roma properties Ardentrive and Maffra.

The two properties were originally offered to the market as part of a diverse southern Queensland aggregation. When it failed to sell at auction in October last year, the three holdings returned as separate listings.

During their ownership, Peter and Karen Hancock were breeding and backgrounding more than 2000 head of cattle through to feeder weights with the holdings offering grass, grain, fodder and bunk options.

The 1796ha Ardentrive, 25km south of Roma, has been operating as a 500 head Wagyu breeding enterprise. Around 600ha of the flat, deep red loams are in a grain, fodder and silage cropping rotation.

Infrastructure includes a three-bedroom home, two cattle yards, numerous sheds, 4500 tonnes of stored silage and a 65 tonne bulk molasses system.

Most of the 653ha Maffra is farmed and planted to a mix of barley and forage oats. Located 23km south of Roma, around 120ha is developed to improved pastures and buffel grass. It is watered by a bore and three dams and has steel cattle yards.

Nutrien Harcourts agent Darryl Langton handled the sale of Ardentrive and Maffra.

 

Passed-in: NQ’s Barragunda passes in at $9.25m

North Queensland’s Barragunda has failed to sell at auction, passing in at $9.25 million.

Brodie Agencies agent Tom Brodie is continuing to negotiate with interested parties on behalf of the vendors Peter and Marie Atkinson.

The 9269ha of open downs breeding, backgrounding or finishing country is located 67km south of Hughenden in a tick free area.

Situated in a 475mm rainfall region, Barragunda has been enjoying an excellent start to the season with between 120mm and 280mm falling across the property.

A good body of Mitchell, Flinders and buffel grass, and other native grasses and sweet fattening summer herbages, are growing on the pebbly chocolate and red fertile soils.

In an average season, the Atkinsons estimate Barragunda can comfortably carry 1100 cows and calves.

Barragunda is watered by a sub-artesian bore and six equipped dams and following a good wet season, numerous short-term waterholes can be found along the Yantee and Gum Creeks.

Infrastructure includes a five-bedroom home, a one-bedroom cottage, steel cattle yards, steel sheep and goat yards, numerous sheds and 20km of exclusion fencing.

Barragunda is close to the 9788ha blue ribbon Peronne Station that achieved a record $13.1m (including 480 breeders) at auction in August 2022 – achieving around 30 percent above the previous best sale. On a bare basis, Peronne sold for around $11.6m or $1185/ha or $10,000 a breeder area.