Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, 22/09/2021

Red Creek and Karinya, established more than 150 years ago, had been running as a single operation by South Australia’s pastoral pioneering Keynes family for the past 30 years.

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

  • Historic SA grazing property makes $15m
  • CQ family expands with Slatey Creek
  • Riverina producer secures SA station country
  • SA’s Wallerberdina sells prior to auction
  • Two northern NSW blocks snapped up at auction

Historic SA grazing property makes $15m

Close to $15 million has been achieved for two historic grazing properties in South Australia’s Barossa region.

The 2549ha Red Creek at Keyneton (pictured above) and the adjoining 2047ha Karinya Station at Moculta were offered for sale via an expressions of interest campaign in July last year.

In November, Colliers International announced the sale of around half of the total landholding, comprising most of the eastern rangeland country, to adjoining landowners.

Two remaining parcels, the most productive, high-rainfall sections of the properties located closer to the Barossa, were subsequently offered to the market.

The 947ha Karinya Station features a beautiful 100 year old homestead, a second residence, shearing shed and outbuildings and the 1275ha Red Creek including the sheep and cattle yards.

The two have now been sold to producers from outside the region seeking expansion.

Red Creek and Karinya, established more than 150 years ago, had been running as a single operation by South Australia’s pastoral pioneering Keynes family for the past 30 years.

Both showcase the spectacular landscape of the district – from gently undulating gum-studded, arable land to open grazing hills with steeper slopes. The rugged eastern escarpments are dissected by timbered, seasonal watercourses and scenic gorges reminiscent of the southern Flinders Ranges.

Adjacent to the famous Henschke winery, Red Creek has been owned and operated by the Keynes family for five generations and is renowned for producing high quality Merino wool, crossbred lambs and Angus beef cattle.

At the time of sale, selling agent Jesse Manuel said the limited availability of rural landholdings of significant scale had attracted extensive inquiry from producers seeking expansion and diversification opportunities.

CQ family expands with Slatey Creek

A Central Queensland family seeking expansion has paid more than $15 million for the productive Central Highlands grazing property Slatey Creek.

The 6268ha holding attracted 30 inquiries, 14 inspections and five registered bidders with three active on auction day. Slatey Creek was passed in for $15 million and sold shortly afterwards for an undisclosed price.

Situated 130km west of Rockhampton and 45km east of Duaringa, the property is suitable for either breeder or backgrounder operation and is currently running 1500 head of cattle.

There is also the potential for irrigation from the Fitzroy River for broadacre farming, with some areas suitable for macadamia nuts.

Vendors Charlie and Kaye Wilson are winding down their rural operations after eight years of ownership. Two years ago, the couple sold their 7230ha Dingo property Karamarra, on the Mackenzie River, to Western Australian producer and businessman Brent Smoothy for a reported $25-$30 million.

The country on Slatey Creek features brigalow/belah and coolibah plains, undulating forest country established to buffel.

There are five equipped bores and six dams with permanent water along the Dawson and Fitzroy Rivers, and numerous watercourses spread onto the developed scrub country.

Richard Brosnan from Ray White Rural paid tribute to the Wilsons saying the property presented extremely well given the dry conditions.

Slatey Creek

Riverina producer secures SA station country

A producer from New South Wales’ Riverina has secured the picturesque Kondoolka Station in the heart of South Australia’s Gawler Ranges for $5.14 million, including 4500 Dorpers.

Simon McIntyre from Nutrien Harcourts said the auction process was very competitive and the price exceeded expectations.

“When the property was listed in July, it was anticipated to make around $4 million, based on the region’s previous sale which, on a DSE value, was $370 to $400,” he said.

The 105,000ha breeding and fattening enterprise, which has 200km of boundary fencing, is situated 120km from Wirrulla and 340km from Port Augusta.

Rated to carry 8200 sheep equivalents, it attracted interest from every state with the 4500 Dorper breeding ewes a strong drawcard.

Kondoolka has been presenting well after reasonable rain, giving the country a good start to the season.

Water is captured by extensive natural rock walls, 15 man-made rock walls, as well as dams, wells and tanks.

The productive pastoral holding also offers a commercial attraction boasting spectacular scenery and terrain.

A producer from New South Wales’ Riverina has secured the picturesque Kondoolka Station in the heart of South Australia’s Gawler Ranges for $5.14 million, including 4500 Dorpers.

SA’s Wallerberdina sells prior to auction

A southern South Australian cattle producer has snapped up Wallerberdina Station prior to auction for between $3.5 million and $4 million.

The successful buyer was seeking to expand his current operation and will use Wallerberdina as a breeder operation.

The 23,580ha holding is 40km northwest of Hawker in the Flinders Ranges.

The country is generally flat with good shelter disbursed with sandy rises that respond well to rain. There is an abundance of bush and native grasses that can support 6000DSE or around 400 cattle.

For the past six years, the pastoral lease has been jointly owned by Grant Chapman, a former South Australian Senator and Liberal Party president, and Philip Speakman, who founded an Adelaide executive human resources consultancy.

A feature of Wallerberdina is the quality and quantity of water supplied from a natural underground spring that forms part of Hookina Creek supplying 12 watering points.

It features mains power, which is unusual for South Australia, and the potential for wind, solar and hydro power.

The sale of Wallerberdina was handled by Tim Taplin from Elders Port Augusta.

The 23,580ha Wallerberdina is 40km northwest of Hawker in the Flinders Ranges.

Two northern NSW blocks snapped up at auction

A Walcha family has expanded its local footprint paying $2.925 million for The Tops in northern New South Wales.

Located 18km south east of Woolbrook and 30 minutes from Walcha, The Tops lends itself to a mix of sheep and cattle, boasting good sheep infrastructure.

The 526ha high rainfall, high-country grazing property consists of undulating grazing, heavier fertile granite soils, some granite rock outcrops and protected gullies that can run 1700 sheep and 100 cows.

The Tops is watered by an abundance of dams and natural springs.

 

Meantime, a Victorian family looking to expand has paid $1.41m for Gresham, in northern New South Wales’ Myall Creek district.

Situated halfway between Bingara and Delungra, the 566ha of lighter red to dark basalt soils through to creek flats are suited to grazing, fodder and cropping.

The country can carry between 150 to 200 cows.

Gresham has a 3km frontage to the Sheep Station Creek with a reliable and constant water supply that reduces to waterholes in very dry times. There is also a 30 megalitre irrigation licence that can be pumped out of Sheep Station Creek, as well as 14 dams.

Selling agent George Barton said the value country generated good interest from local and interstate producers.

Gresham and The Tops were auctioned by McCulloch Agencies.

 

Click here to access more property sales results

 

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