EMERALD farmers Nigel and Beth Burnett have paid $8.95 million for the prime Springsure properties Denlo Park and Cedar Park at a Ray White Rural auction in Brisbane today.
Offered by the receivers and managers of Springsure Property Holdings, the Burnett’s paid $4.35 million for Denlo Park and $4.6 million for the nearby Cedar Park.
The properties were purchased by Springsure Property Holdings parent company Bandana Energy in 2014, as part of a proposed mine development. The farming country was subsequently leased to local farmers.
The losing bidder on both properties was a Goondiwindi district irrigator.
Denlo Park covers 2230 hectares (5510 acres) and is located about 34km north east of Springsure and 61km south east of Emerald.
There is 1762ha developed for farming of which 747ha has been developed for furrow irrigation. The overland flow irrigation system was developed some 15 years ago and is considered one of more functional schemes developed on the Central Highlands. There is 5800 megalitres of water storage.
Infrastructure on Denlo Park includes a homestead, second house, two cottages, sheds, fuel storage and silo complex.
Cedar Park covers 2906 hectares (7181 acres) and is located 34km north east of Springsure.
There is 2500ha of developed contoured farming country.
Improvements include three bedroom air-conditioned home, quarters, sheds, office, and silo complex.
The Burnetts trade as Colorada Cotton are based at Colorada and Langley Downs, Emerald.
The marketing of both properties was handled by Russell Lindley and David Buckley from Ray White Rural Emerald.