AN undisclosed agricultural company from Rockhampton is the new owner of Blackall properties Tilbury and Milroy after a spirited bidding duel at auction today.
The aggregation of 31,386 acres (12,701 hectares) near Yalleroi, showing the benefit of good early season rain on its Buffel country, was purchased for $5.3 million, or $168.86 an acre.
After an opening bid of $2 million, three parties engaged in a flurry of bidding in $200,000 steps to $3M, before Elders auctioneer John Burke accepted $100,000 bids to a $5.1M level.
After consultation with owners Fred and Daphne Rich and an announcement that the property was on the market, the successful bidder entered the auction and secured the property.
John Burke, who travelled from Brisbane to conduct the auction for Elders, said it had been a great result.
“It is all down to the credit of Fred and Daphne and all the work they have put into their property over the years,” he said.
The sale was described as the end of an era, as the properties had been owned by the Rich family for 80 years.
Elders Blackall manager Daven Vohland said there had been 25 property inspections, which resulted in 12 bid cards registered on the day.