Mayneland seeks long term lessee

CQ's Mayneland seeks long term lessee

Property
CENTAL QUEENSLAND: A long-term lessee is being sought for the 2942 hectare Rolleston property Mayneland.

CENTAL QUEENSLAND: A long-term lessee is being sought for the 2942 hectare Rolleston property Mayneland.

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A long-term lessee is being sought for the 2942 hectare Rolleston property Mayneland.

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RURAL Funds Management is seeking a long-term lessee for its Rolleston property Mayneland.

Mayneland covers 2942ha (7270 acres) of which 1757ha are developed to dryland cropping and 482ha to irrigated cotton. The property is supported by 4485 megalitres of water storage.

Mayneland's 2019 cotton crop yielded more than 15 bales an hectare.

Mayneland's 2019 cotton crop yielded more than 15 bales an hectare.

RFM has operated Mayneland since it was acquired by the Rural Funds Group in August 2018. RFF, also managed by RFM, is an ASX-listed real estate investment trust specialising in agricultural assets.

RFM property manager Don MacNamara said the 2019 cotton crop had yielded more than 15 bales an hectare.

"We planted 109ha with irrigated cotton, which averaged at 15.1 bales/ha," Mr MacNamara said.

Mayneland currently has 1757ha developed to dryland cropping and 482ha developed to irrigated cotton.

Mayneland currently has 1757ha developed to dryland cropping and 482ha developed to irrigated cotton.

"We had a well established plan of what we were seeking to achieve with cotton plant growth, which we achieved and some. Mayneland's yield certainly exceeded our expectations this year."

RFM has plans for additional development on Manyeland, including an additional 582ha of irrigation supported by expanded storage capacity of 4300ML.

Applications for tenancy close with Colliers International on May 15.

Contact Rawdon Briggs, 0428 651 144, or Ben Forrest, 0427 580 000, Colliers International.

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