CQ's Kaiuroo back in Australian hands for $68.8 million

Mark Phelps
By Mark Phelps
Updated November 30 2021 - 11:56pm, first published November 29 2021 - 11:44pm
ELDERS: Central Queensland's Kaiuroo aggregation has sold for $68.8 million to the Canberra-based asset manager Rural Funds Management.

CENTRAL Queensland's Kaiuroo aggregation is back in Australian hands, selling for $68.8 million to the Canberra-based Rural Funds Management, headed by David Bryant.

Offered by the New York-based investment company Rohatyn Group, the 27,879 hectare (68,890 acre) is located on the Big Bend section of the Mackenzie River, 85km north of Dingo and 235km west of Rockhampton.

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The aggregation comprises of four neighbouring properties: Kaiuroo (5889ha/14,551 acres), Coreen (4528ha/11,188 acres), Eskfield (3636ha/8984 acres), and Old Yambuk (13,825ha/34,163 acres).

The aggregation has 22,500ha of cattle country, 3000ha of dryland farming and 647ha of irrigated organic cropping.

The sale prices is equal to about $2468/ha ($999/acre).

The sale was negotiated by Andrew Williams, Virgil Kenny and Tom Russo from Elders, through an expressions of interest process, which closed in August.

Rural Funds Management has $1.5 billion of agricultural assets in three investment funds located across Queensland, NSW, South Australia, Western Australia and Victoria.

Earlier in November, RFM's largest fund under management, the Rural Funds Group paid some $110m for cattle, cropping properties and macadamia orchards in central and south east Queensland.

Described as a "production powerhouse" the property has extensive forest breeding country, soft scrub country and areas of improved pastures and leucaena. There are also more than 4000ha of fertile floodplain country and 12,448 megalitres of irrigation water.

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