THE quality 1690 hectare (4176 acre) Biloela property Ferndale has sold at auction for $10.8 million.
Offered by the Ferguson family, the property was bought by Dee River Pastoral Company, Calliope, for the equivalent of $6391/ha ($2586/acre).
Six of the seven parties that registered to bid were active at the auction, reflecting the ongoing demand for agricultural land.
The productive property located 32km south west of Biloela is estimated carry 630 to 700 cattle.
Ferndale is described as having about 60 per cent natural blue gum flats on creeks, with the balance being open, slightly undulating ironbark and bloodwood country with well grassed valleys.
Ferndale's soils are described as being typical creek flats with sandy loam to dark soils. Improved pastures include Rhodes grass, green panic and urochloa, seca, buffel, and stylos, supported by native grasses including Queensland blue.
Up to about 24ha is able to be irrigated, with about 160ha of cultivation in total. There is a 122 megalitre water allocation, a 50ML licence, plus an additional spring fed lagoon with 72ML licence.
The property also has four dams and three main bores providing an abundance of water.
There are five main paddocks and a number of holding paddocks with two laneways to the main yards.
Other improvements include a three bedroom homestead, a machinery shed and a hay shed.
The marketing of Ferndale was handled by Virgil Kenny, Elders, Rockhampton.
