SOUTH east Queensland's Glencoe aggregation has sold at a Ray White Rural auction for $5.05 million.
Located at Townson, about 20 minutes drive south of Laidley, the 415 hectare (1026 acre) holding in seven freehold titles is currently run as a cattle breeding and backgrounding enterprise.
The property is also described as being suited to other enterprises, including hay production, given its fertile soils and reliable water supply.
The purchase price is equal to about $12,169/ha ($4922/acre). All three of the registered parties were active at the auction in Brisbane on Friday.
Glencoe has rich, black soils rising to sheltered forest grazing. The property boasts impressive views of the Great Dividing Range and is recognised as excellent cattle country with its improved pastures and semi-permanent creeks.
There are six irrigation bores plus six stock bores, The 50ha of irrigated country is serviced by 32 hydrants and there is 24ha of dryland other cultivation.
The aggregation features three homes, three sets of cattle yards, and excellent shedding for hay and machinery. There is also 20km of new fencing.
The marketing of Glencoe was handled by Jez McNamara, Ray White Rural, and Garth Weatherall, Bartholomew and Co.
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