Condamine Gems sold at auction

Condamine Gems make $14.5 million


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CONDAMINE GEMS: Wongalea, Ramona and Topwater sold at auction for $14.5 million.

CONDAMINE GEMS: Wongalea, Ramona and Topwater sold at auction for $14.5 million.

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Condamine properties Wongalea, Ramona and Topwater sold at auction for $14.5 million.

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PETER and Amelia Carmichael and family, Lochinbar, Augathella, have bought three Condamine properties at auction $14.5 million. 

Offered by David Campbell, the properties - Wongalea, Ramona and Topwater - cover 5842 hectares (14,436 acres) in three separate holdings. 

The sale is equal to about $2482/ha ($1004/acre).

Marketing agent Kevin Graham, Kevin Graham Consulting, said four of the six parties that registered to bid were active at the auction. There were 23 inspections in the run-up to the auction, he said.

The three well developed properties are in close proximity, with a laneway linking Ramona and Topwater.

The three well developed properties are in close proximity, with a laneway linking Ramona and Topwater.

The country is described as prime deep soil brigalow/belah country combined with an area of lighter quick responding soils. Gas also provides solid, long term returns.

The operation is said to have the capacity to run more than 2000 backgrounding cattle, lot feeding 1000 cattle and have 328ha of brigalow/belah cultivation country.

The properties are in close proximity, with a laneway linking Ramona and Topwater.

Wongalea covers 1130ha (2792ha), Ramona 2019ha (4989 acres), and Topwater 2692ha (6652 acres).

The marketing of Wongalea, Ramona and Topwater was handled by Kevin Graham, Kevin Graham Consulting.

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