QUEENSLAND's already red hot rural property market went from strength to strength during 2022 as buyers scrambled to increase their stake in agriculture.
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Despite the threat of rising interest rates and a softening in cattle markets in the second half of the year, 2022 proved the year on consolidation with family operations driving the market to new heights.
Here's a selection of some of the top sales during 2022.
Gulf Country
Leading the charge was the sale of Mark Menegazzo's Gulf Coast Agriculture Company four adjoining cattle stations to Peter and Jane Harris in early December.
The Gulf Country aggregation covers a total area of 1.1 million hectares (2.7 million acres) and is estimated to run about 96,000 cattle.
The December transaction included:
- Van Rook, which covers 590,500 hectares (1.46 million acre) and runs some 61,700 head cattle.
- The 125,000ha (308,882 acre) Stirling Lotus Vale, a fattening block that runs about 19,600 head, including a stud Brahman herd.
- Inkerman, which covers 280,000ha (691,895 acres) is bordered by water on three sides - the Nassau River to the north, the Staaten River to the south, and the Gulf of Carpentaria to the west - runs about 10,000 breeders.
- Dorunda, which was named after the first vessel to carry beef from Queensland to Great Britain in 1881, is 110,010ha (271,841 acres) and runs about 3000 breeders.
Emerald
Cowal Agriculture's institutional grade 5976 hectare (14,767 acre) Queensland Central Highlands irrigation operation sold for more than $120 million to Macquarie.
The eight property portfolio has been extensively developed to irrigation with 3549ha of row crop, 270ha of bankless channel, and 144ha under centre pivots. The balance of the property comprises of dryland cropping, grazing and support land.
The significant water entitlements include 27,157 megalitres of medium priority and 4648ML of unsupplemented water.
There is also 8025ML of on-farm water storage and a 12km frontage to the Nogoa River.
Cowal Agriculture Holdings is an Australian company, affiliated with US based Global Endowment Management.
Cowal Ag's eight farms are run by a team of 10 full time employees assisted by another five workers during the peak summer cropping season.
The marketing of Cowal was handled by Danny Thomas and Simon Cudmore from LAWD.
Clarke Creek
Consolidated Pastoral Company paid $47.5 million for the Fitzroy region's highly productive 17,638 hectare (43,584 acre) Jimarndy aggregation.
Offered by the Simon family, the FIRB approved sale to CPC included plant and equipment valued at $500,000, but no cattle.
On a bare basis the sale equates to $2735/ha ($1078/acre) or $7580 an adult equivalent cattle area (AE) based on a carrying capacity of 6200 head.
The aggregation comprises of Jimarndy (3646ha/9009 acres), Tawarri (9500ha/23,475 acres), Tandarra (4402ha/10,878 acres) and a 4410ha (10,897 acre) forestry lease adjoining the aggregation.
Jimarndy would be used to finish weaners bred on Wrotham Park at Chillagoe, which run 25,000 breeders.
CPC controls more an 3.6 million ha (8.9m acres) of land running more than 300,000 cattle on now nine properties. CPC also has a 90 per cent stake in PT JJAA, which operates two feedlots in Indonesia with a combined feeding capacity of 35,500 head.
The marketing of the Jimarndy was handled by Phillip Wieland, Nutrien Harcourts, and Edward O'Dwyer, CBRE.
Western Downs
THE standout 11,466 hectare (28,283 acre) Western Downs grazing property Auburn Station sold for more than $25 million in early December.
Located 105km north of Chinchilla and 100km south west of Mundubbera, the property offered by Ron Winestock is estimated to run 1500 breeders plus progeny.
The buyers were Peter and Shari Knudsen, who bought the property through an expressions of interest process conducted by Colliers Agribusiness.
The sale price is estimated to be close to $17,000/breeder area.
The extensively developed country rises off highly productive river flats through to areas of clay soils interspersed with softwood scrub, rising to granite hills.
The Knudsens run about a 3000 Santa and Wagyu cow breeding and finishing operation including Coondarra, Chinchilla, and Mt Lonsdale, Mungallala, in addition to two other properties in the Taroom/Wandoan district.
The expressions of interest campaign was handled by Rawdon Briggs and Phillip Kelly from Colliers Agribusiness.
Meandarra
Darryl and Carmel Waugh's quality Western Downs cattle breeding and fattening property Doogalook sold at a JLL Agribusiness auction for $13.35 million in May.
The buyers were local landholder buyers Gavin and Helen Dales, who paid the equivalent of $4012/ha ($1624/acre) for the 3327ha (8221 acre) property.
Since being acquired by the Waughs in 2012, Doogalook had been progressively developed as a highly productive and versatile property, underpinned by excellent operational infrastructure.
Doogalook is noted for for EU accredited Santa bullocks, which dress out at about 400kg at 24 to 30 months of age.
Of note is the extensive farming plant and equipment included in the sale, and about 440ha of fallow cultivation ready for winter crop.
The marketing of Doogalook was handled by Clayton Smith, Geoff Warriner and Chris Holgar from JLL Agribusiness.
Theodore
The Jones family's highly productive 2898 hectare (7161 acre) freehold Central Queensland property Malo sold for $22.5 million, or a record breaking $7764/ha ($3142/acre).
Bidding opened at $13.8m, paused at $20m, when the property was declared to be on the market, before racing ahead to the $22.5m sale price to the Finger family.
Five of the 12 parties registered to bid were active at the Hourn and Bishop Qld auction.
Estimated to run 1300 adult cattle equivalents Malo is located on the Leichhardt Highway 15km south of Theodore and 75km north of Taroom.
On that basis the price is equal to more than $17,300/beast area.
The gently undulating grazing country is predominantly deep, rich brigalow, belah, bonewood, bottle tree, and associated softwood scrub country.
There is also blue gum, box and spotted gum timber along the creeks and gullies.
Established improved pastures buffel grass as well as green panic and native species.
Augathella
The Ross family's cracking Augathella district property Byrgenna sold at an Elders auction in June for $20.7 million - or about $12,000 a beast area.
The buyers of the 11,548ha (28,536 acre) GHPL property and the attached 1100ha (2718 acre) term lease were Luke and Kim Gibson, Tarago, Alpha.
As a total area, the 12,648ha (31,254 acre) property sold for the equivalent of $1636/ha ($662/acre).
Owned by the Ross family for the past 55 years, nine parties registered to bid on the premium grazing country along the Ward River.
The 117 year old historic, four bedroom homestead is a feature of the property. It has polished floors, tongue and groove walls and fireplaces and is surrounded by established garden. There is also a cottage and quarters.
The mostly undulating, sparsely timbered country also has soft, red pebbly soils and black soil ridges interspersed with the channels of the Byrgenna, Bayrick and Alarm creeks in addition to the Ward River frontage.
The western section of the property is 2672ha of brigalow, gidyea, bottletree country supporting buffel grass.
Leopardwood Park
A stand-out in south west Queensland was the sale of Vin Richardson's 28,596 hectare (70,662 acre) Adavale property Leopardwood Park, bought by Morven-based Bruce and Jenny Creighton and their son Stuart.
Initially passed in on a Nutrien Harcourts GDL online auction for $5.9 million, a contract was placed on the holding following negotiations.
The actual sale price was not disclosed. The passed in figure of $5.9m is equal to about $206/ha ($83/acre), reinforcing the underlying strength of the rural property market.
The property features Bulloo River flood-out country, with creeks intertwined through soft loamy box flats, and gidyea and mulga country.
Pastures include a good mix of buffel, Mitchell grass, Queensland blue grass, mulga Mitchell, natural grasses, herbages and salines in seasons.
The property also receives annual income from a carbon offset contract, that is said not to affect the carrying capacity of the property.
Sedgeford
Noted North Queensland Wagyu breeders David and Gina Kane emerged as the buyers of the Teys family's large scale Alpha property Sedgeford.
The Kanes, who are based at Mirtna Downs, Charters Towers, own a number of properties including Barton Downs at Moura and country at Bell.
The sale price has not been disclosed, it is understood Sedgeford was a $110m transaction including cattle and plant. The underlying land value was estimated at $98m, or about $2026/ha ($820/acre).
Five parties lodged expressions of interest on the 48,370 hectare (119,522 acre) rolling term lease, which is estimated to run 7000 mixed cattle up to fattening age.
Sedgeford was purchased by the Teys family in 1990, and has been developed into one of the region's most productive properties.
About 36,000ha (90,000 acres) has been cleared and is well grassed with mainly buffel.
Brisbane Valley
Blue ribbon 1372 hectare (3390 acre) Kilcoy property Brooklyn attracted plenty of attention, selling to Laird and Sonya Morgan, Arubial, Condamine, for $16.1 million in July.
While only two of the 11 parties registered to bid were active at the Shepherson and Boyd auction in the Broncos Leagues Club in Brisbane, the competition purchase price was equal to $11,735/ha ($4749/acre).
Offered by Graham 'Snow' Duncan, the conservatively stocked property is said to safely carry 600 breeders, 650 steers to prime, finished bullocks, or 850 young cattle.
Brooklyn is in 17 freehold titles and features expansive flats and hollows, rising to gently rolling ridges with a small area of steeper, timbered country.
Brooklyn also features a circa 1920s high-set traditional Queenslander homestead in very good condition as well as other well maintained structural improvements.
Cape York
The Queensland Government's Department of Environment and Science settled on Bramwell Station, a cattle station and eco tourism facility on Cape York.
DES secured the 131,900 hectare (325,932 acre) soon after if was passed in for $11.3 million on an online auction in 2021. The actual sale price was not disclosed, but is understood to be about $11.5m.
In February, DES announced Bramwell would be added the national park estate.
Positioned as the last stop before the tip of Cape York at the start of the famous Old Telegraph Line four-wheel-drive track, Bramwell was offered by Wendy Kozicka and Vince Bowyer, who have owned the property for the past 20 years.
The offering includes multi-income streams from cattle, a tourist park, roadhouse and carbon credits. There is about 55,000ha of country divided into 11 paddocks.
Bramwell's carbon credit scheme generates more than of $150,000 a year in income.
Marketing was handled by Geoff Warriner, JLL Agribusiness, and Andrew Adcock, Adcock Partners.
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