THE North Queensland property market has ended 2018 on a high with Maitland Station selling at a Geaney’s auction for a stellar $9.85 million.
The buyers of the 13,835 hectare (34,187 acre) top quality cattle breeding and fattening property were adjoining neighbours Doug and Helen Keough and family from the adjoining property Lyndhurst. The losing bidders were the Condon family, Conjuboy, Greenvale.
Maitland Station was offered by the estate GW Carrick.
Townsville-based Herron Todd White valuer Roger Hill said bare of plant and livestock, the sale price is was equal to about $615-$620/ha ($250/acre).
“Despite the drought there is good, solid interest in good quality breeding country,” Mr Hill said.
“We’re facing a situation were there is a shortage of listings and strong demand.”
Five of the 17 parties that registered to bid were active at the auction. Bidding opened from the floor at $5 million.
Located 277km north west of Charters Towers 20km west of the Lynd Junction off the Kennedy Development Road at Einasleigh, the quality property features 11 main paddocks with laneways servicing 1500 head capacity steel and timber cattle yards.
Improvements include a two storey main homestead with four bedrooms and two bathrooms, a three bedroom managers residence.
The Einasleigh River runs south to north through the property with permanent water holes. There are also seven bores and eight open dams.
Maitland is estimated to carrying 3500 mixed cattle.
The marketing of Maitland Station was handled by Matthew Geaney from Geaney’s Real Estate, Charters Towers.