Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, 15/05/2024

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

  • Charleville’s Raceview makes $21m
  • Two cattle producers secure northern NSW country
  • Western NSW grazing split three ways
  • Spirited bidding for CQ’s Crystal Vale

Raceview attracted 13 inspections from New South Wales, Queensland and the Northern Territory, with most of the local interest understanding the property the best.

Charleville’s Raceview makes $21m

Charleville businessman and beef producer Shane Castles and partner Lisa Paynter, together with Brock and Katrina Hindmarsh, Dillalah Station, have paid $21 million at auction for south-west Queensland’s Raceview Station.

The sale ends 30 years of ownership by the UK-based Mellstrom family.

Purchased by the late property tycoon and Surrey farmer Graham Mellstrom, Raceview is believed to be the last remaining Australian asset held by the family following the sale of its Brisbane commercial property portfolio.

Adcock Partners Property & Livestock agent Andrew Adcock said Raceview attracted 13 inspections from New South Wales, Queensland and the Northern Territory, with most of the local interest understanding the property the best.

Described as one of the most productive properties in the district, the 39,550ha holding is adjacent to the Western Meat Exporters abattoir, just northeast of Charleville.

Boasting 33km of Warrego River frontage, Raceview is heavily pastured with buffel (across 40 percent of the property) with strong stands of edible mulga.

Suited to cattle breeding and finishing, or sheep and goats, the property has been running 1800 cows and calves and more recently, 1400 goats and progeny.

In addition to the Warrego River, stock water comes from the Wellwater and Crooked Creeks, and Bradleys Gully with permanent and semi-permanent waterholes, four bores and 13 dams, supported by 482mm of rainfall a year.

Around 35km of exclusion fenced encloses an area of 13,354ha.

Infrastructure includes a four-bedroom home, a shed, a shearing shed, two cattle yards and a goat yard.

The sale of Raceview included basic station plant.

 

Two cattle producers secure Northern NSW country

Two New South Wales cattle producers have secured almost 2000ha of blue-ribbon grazing and farming country in northern New South Wales, some of which has been held by the Wilson family since 1930.

The 1260ha Lowestoft Aggregation and 612ha Woodlands are located near Gowrie, about 10km apart, halfway between Nundle and Tamworth.

Ian Morgan Livestock agent Ben Goodman was unable to disclose the purchasers or the prices paid, but said the two properties sold separately to producers who would continue to use them as finishing depots.

Lowestoft

The 1260ha Lowestoft, 19km from Wallabadah, comprise four properties – 401ha Lowestoft, 277ha Darra, 185ha Middle Goonoo Goonoo and 396ha Sugarloaf – aggregated over a 50 year period.

As a whole, the holding runs 370 cows and calves, 1000 composite ewes and fattens between 1600 and 1700 prime lambs annually.

It also grows cereal crops for fodder, as well as wheat, barley and sorghum on around 164ha which could be expanded by a further 356ha.

Before the cropping area was increased, the aggregation ran 600 cows and calves and 500 Merino ewes on country that is a mix of valley floors and creeks with soft undulating rolling hills to timbered hills.

During the marketing campaign, Mr Goodman said Lowestoft offered some of Tamworth’s finest grazing country.

“The aggregation consistently produces high quality livestock which are sold to feedlots, abattoirs and saleyards,” he said.

Situated in a 711mm annual rainfall district, Lowestoft is watered by five equipped bores. The four holdings have their own water supply but are also connected to each other for back-up.

There are 30 dams plus creeks with permanent and non-permanent waterholes.

Infrastructure includes three homes, five sheds, two cattle yards, sheep yards, a two-stand shearing shed and silos.

Woodlands

The 612ha Woodlands is located 8km from Currabubula, 11km from Duri and 28km from Tamworth.

It was purchased by the Wilson family in 2014 for additional cropping and grazing opportunities and is currently being used as a fattening depot for trade cattle or the family’s breeder cattle.

Woodlands is growing 282ha of barley, wheat and sorghum with a further 81ha considered arable.

The property is watered by three bores and six dams.

Improvements include cattle yards, numerous sheds and six silos (two are new) with 426 tonnes of capacity.

 

Western NSW grazing split three ways

A western New South Wales Lachlan River operation has been split up and sold to two locals and a young family from Orange for a combined $9.225 million.

The 9573ha Woorilla Aggregation was offered by Riverina producers Ian and Linda McLean after more than 105 years of single-family ownership.

The 4577ha Woorilla sold for $5.175m, the 2904ha Tarrawonga made $2m and the 2092ha Walkers raised $2.05m.

Situated on the Riverina Plains, 38km from Hillston, the aggregation has 5km of Lachlan River frontage and 10km of Merrowie Creek frontage.

The low-input, grassland and bush country is suited to sheep, goats and cattle and is estimated to run 4000 ewes and followers, with a history of opportunistic cattle trading and finishing.

Around 221ha has been approved for cultivated irrigation with the red loams and clay-rich vertosol chocolate-cracking soils offering scope for development.

The property is adjacent to irrigated cotton and wheat, almond orchards and intensive cropping operations.

The Woorilla Aggregation was offered with a 972ML Lachlan River water licence (available for separate sale), an 8ML water licence, six bores and a dam.

Improvements included a five-bedroom home, a renovated shearers quarters, a five-stand shearing shed, four steel sheep yards, steel cattle yards and a shed.

 

Spirited bidding for CQ’s Crystal Vale

At auction, a Longreach family outbid a strong field of bidders, paying $2.5 million for a small grazing block in Central Queensland.

The 197ha Crystal Vale situated near Bouldercombe, is 8km from Gracemere and 12km from Rockhampton in Central Queensland.

The country ranges from undulating hills with gravelly soils through to alluvial flats and heavier fertile soils, with some areas suited to cropping.

Currently, the property is running 60 breeders and progeny through to weaners.

Crystal Vale is watered by 990m of Gavial Creek frontage, eight bores (two are equipped), a 2ha irrigation licence and a 32ML licence.

Infrastructure includes a three-bedroom home and a shed.

The sale of Crystal Vale was handled by Netty Wendt from Ray White Rural.

 

 

 

 

 

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