NORTH Australian Pastoral Company has bought the 99,990ha (247,000 acre) Portland Downs aggregation for $23 million.
Located near Isisford, about 100km south east of Longreach, the property was sold by the Netherland-based investment company Salentein, through GP Cattle.
Listing agent Boyd Curran, Landmark Harcourts, said Portland Downs was quality country, extremely well watered with three capped artesian bores and 38 equipped dams, combined with frontage to the Barcoo River.
“I am pleased that Portland Downs has been purchased by a company that appreciates the quality of the country and I know they’ll be great custodians of this historic station,” Mr Curran said.
Founded in 1992 by Dutch businessman Mijndert Pon, Salentein is a company with global interests in beef and grain production, wine and hospitality, much of it centred in South America.
“Producers from all over Australia are now looking to Central Western Queensland to purchase quality properties of scale with low running costs,” Mr Curran said.
“The quality of the country, the productivity and ease of management is attractive at prices that are considered great value.”
Portland Downs was previously one of the pastoral jewels in Clyde Agriculture’s crown. It was one of the first runs established in the Isisford district by John Charles Ellis in 1866.