Country on Taylors Plains, near Mungallala, bought for $66m by Peter Hughes and family this week.

PROMINENT Queensland cattleman Peter Hughes and family have paid $66 million for Taylors Plains, a showpiece Mungallala district Wagyu breeding and backgrounding property owned by Noel and Jo-Anne Chiconi.

The 33,959ha holding is located 100km north of Mungallala and 230km north-west of Roma in south-west Queensland’s Maranoa district.

Beef Central has been aware of the transaction for some weeks, but chose to wait to publish the result until settlement, which took place today.

A separate rumour this week suggesting Mr Hughes is also mounting a bid for Millungera Station near Julia Creek is without foundation.

The acquisition of Taylors Plains, including around 4000 commercial cattle including calves (some Wagyu influenced, some conventional) expands the Hughes family’s Georgina Pastoral Co and Hughes Pastoral Group footprint in the region. Caldervale station, one of the largest properties in the region, is a few properties away to the northwest, while a third recent Hughes Grazing acquisition, Tumbar, is located to the northwest of Caldervale towards Jericho.

Taylors Plains will be used for breeding and backgrounding young Wagyu-influenced cattle from Hughes Pastoral properties further north.

During their 22 years of ownership, the Chiconis have transformed Taylors Plains into a Wagyu cattle breeding and backgrounding showpiece.

Offered with a conservative carrying capacity of 6500 Adult Equivalents, the property was sold stocked with 2500 breeders and followers.

The country includes 9000ha of brigalow, bottle tree and belah scrub, 11,500ha of poplar box on alluvial plains and 8200ha of lancewood and bendee ridges. supporting dense stands of buffel and native grasses.

During the marketing campaign, LAWD agent Col Medway described Taylors Plains as ‘a standout’ property.

“Its combination of land types and pasture provides tremendous carrying capacity and fattening capability, as proven by the Chiconi family’s success in first turning off quality Angus cattle, and for the past ten years, premium Wagyu feeder steers,” he said.

“Taylors Plains will not require a cent to be spent by the successful buyer because they will be walking into a sophisticated cattle operation backed by guaranteed water, abundant pasture and top-notch infrastructure,” Mr Medway said during the marketing phase.

The property is securely watered by eight bores and 47 dams, supported by 605mm of average annual rainfall.

The exceptional infrastructure includes two four-bedroom homes, three two-bedroom cottages, two three-bedroom expander homes, a five-bedroom donga accommodation, steel cattle yards, numerous sheds and 118km of laneways.

The sale of Taylors Plains was handled by LAWD agents Col Medway and Grant Veivers.

Chiconi family

Noel Chiconi and his wife Jo-Anne bought Taylors Plains 22 years ago and subsequently invested heavily in upgrading the property to its current showcase status.

During the marketing campaign, Mr Chiconi told Beef Central, “The incoming buyer will need to spend virtually nothing on the property – the fencing, waters, cattle yards and accommodation are all in A1 condition.”

“We have been breeding Wagyu cattle since 2014 and turn off Wagyu feeder steers that do very well on the dense stands of buffel supported by native grasses. Our decision to sell has not been taken lightly, but it’s time.”

Hughes family

Peter and Jane Hughes and family, Georgina Pastoral Co and Hughes Pastoral Group, are one of the world’s largest Wagyu producers managing about four million hectares of country across Queensland, New South Wales and the Northern Territory.

Headquartered at the 140,000ha Tierawoomba near Nebo in Central Queensland, the couple own the 12,000sq km Lake Nash on the Barkly Tablelands; the extensive Victoria River District cattle stations Riveren and Inverway spanning 550,000ha, bought for $100m; the showcase Central Queensland grazing properties Tumbar (including the adjacent Marsden) and Caldervale near Tambo and Keeroongooloo via Windorah in the Channel Country.

When the Hughes paid $215m on a walk-in walk-out basis (including 55,000 Brahman and crossbred cattle, of which 20,000 were breeders), for the 438,000ha Miranda Downs, north-west of Normanton in Queensland’s Gulf of Carpentaria, it became the largest single cattle property transaction in Australian history.