Tumbar sells for stunning $67.5m WIWO

Jericho property Tumbar sells for $67.5m


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Peter Hughes' Georgina Pastoral Company has bought the Jericho aggregation Tumbar for $67.5 million on a walk-in walk-out basis.

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MAJOR SALE: Bevan Doyle has sold his Jericho property Tumbar a stunning $67.5 million on a walk-in walk-out basis including an 8000 head Angus-cross herd.

MAJOR SALE: Bevan Doyle has sold his Jericho property Tumbar a stunning $67.5 million on a walk-in walk-out basis including an 8000 head Angus-cross herd.

JERICHO aggregation Tumbar has sold for a stunning $67.5 million on a walk-in walk-out basis including an 8000 head Angus-cross herd.

Owner Bevan Doyle said the deal would be formalised today when long time friend and fellow Central Queensland cattle producer Peter Hughes signs off on behalf of the Hughes family’s Georgina Pastoral Company. Settlement on the 68,000 hectare property is scheduled for November 15. The aggregation includes Marston which covers 25,000ha.

Tumbar is recognised as one of the best developed cattle properties in Queensland, with more than 50,000ha pulled and planted with buffel grass. About 24,000ha of that country has been blade ploughed. There are also extensive series of 400 troughs, 56 dams and bores on the property, meaning livestock have to walk no more than 2km anywhere on the holding for water.

Mr Doyle said he had been involved in informal discussions with Mr Hughes and agent Bill Cooper from Western Livestock for the past 10 years. However, negotiations began in earnest in January.

The 8000 head is estimated to be worth about $10m. That puts the sale price at about $846/ha ($338/acre) on a bare of livestock basis.

Tumbar was originally an outstation of Mexico Station. The Doyle family bought Tumbar in 1961 for the then princely sum of 115,000 pounds including 4500 cattle, which were valued at 10 pounds a head. Marston was acquired in 2000 for $2.8m on a bare basis. Bevan’s father Alex Doyle is recognised as a pioneer of broadscale buffel grass development work.

Mr Doyle said he had no intention of retiring. Instead, he was looking forward to developing a 11,200ha property at Barcaldine, which already had 4000ha of pulled country. 

“It’s been a lifetime of work but it shows what can be done,” Mr Doyle said. “I’ve had some health issues, so I'm jumping before I’m pushed, but there’s no way I’m retiring.”

Tumbar is relatively close to Georgina Pastoral’s Caldervale Station at Tambo. Georgina owns Argadargada​ and Lake Nash stations in the Northern Territory. 

Tumbar is also being sold with its R4U brand which was originally registered by Richard Skuthorp in 1878.

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