RED hot demand for farming country saw the top Central Highlands grain and cattle property Matilda Downs sell under the hammer for $4.75 million at a Ray White Rural auction in Emerald.
Located 11km north west of Capella, the 2312 hectare (5713 acre) property in four freehold titles is described as a good mix of black soils downs running onto coolabah flats.
Four parties registered to bid at the auction. Bidding opened at $3m and rose in $250,000 lifts to the $4.75m sale price, where auctioneer Bruce Smith dropped the hammer.
About 1400ha is contoured cultivation farmed on a 12m tram track row cropping system. It is estimated a further 200ha is suitable for cultivation. The remaining country of 880ha is primarily flooded coolabah creek flats running up to ironbark country.
The well maintained structural improvements include the four bedroom Matilda Downs homestead, a four bedroom home, five machinery sheds, built in shipping containers, 11 silos, three silage pits, and stables. Water is supplied by six dams.
The cattle country is fenced into three grazing and four holding paddocks. Both areas of cattle country have cattle yards so cattle are not walked through farming country.
The sale price is equal to about $2054/ha ($831/acre). Marketing agent Russell Lindley said the price was recognised as a record for a property of this size in the Capella area.