THIS week’s property review includes a wrap up of recently completed sales, and two separate articles on interesting recent listings across the country.
- Springsure family expands with Pindari
- SW Qld’s Melray sells to neighbours
Cattle on Arcturus Downs
Springsure family expands with Pindari
Brothers Ian and Brett Gale and family, Butcher’s Block, Springsure, are expanding with the remaining portion of the Arcturus Downs Portfolio in Queensland’s Central Highlands.
The 19,343ha Pindari is located 30km from the 15,601ha Arcturus Downs Aggregation (comprising Arcturus Downs, Kronje and Barton Downs) that sold last week to the $250 million Meldora platform created by Canadian global investment group, La Caisse (formerly CDPQ) in partnership with the Clean Energy Finance Corporation and managed by Cunningham Cattle Co.
The 34,944ha Arcturus Downs Portfolio was offered to the market in September last year by UK interests after around 20 years of ownership.
Pindari breeds and backgrounds cattle on open and plateau rangeland country capable of running 1500 breeders or 2250 Adult Equivalents.
It is watered by eight equipped bores, 54 dams and numerous permanent and seasonal waterholes. It also benefits from an irrigation bore with an annual allocation of 78ML to irrigate 20ha.
Infrastructure includes a home, a cottage, a mustering hut, numerous sheds and four cattle yards.
LAWD senior director Jaclyn Hope said the sale of the Arcturus Downs Portfolio, offered as two separate aggregations, represented a landmark transaction in Queensland’s agricultural market.
“The campaign drew strong interest and competitive bidding from a wide range of buyers, from family farming operations to large-scale institutional groups, underscoring the enduring appeal of scale, water security and regional productivity.”
LAWD’s Simon Cudmore said the strategic location, water allocation and diverse income mix of the portfolio made it a standout.
“An offering of this scale and diversity in such a tightly held region is quite rare, and the agency was pleased that strong interest in both the aggregation and Pindari produced such quality buyers.”
“The Arcturus Downs Portfolio benefits from the trifecta of fertile soil types, an excellent climate and secure irrigation water, and we have every confidence that agriculture will be the ultimate winner from these substantial investments,” Mr Cudmore said.
SW Qld’s Melray sells to neighbours
In south-west Queensland, safe grazing country suitable for cattle, Dorpers and goats has sold to southern neighbours Lachlan Tremaine-Hill and Karen Gardem of Deiran for $3.55 million.
The 7660ha Melray is located 85km east of Cunnamulla and 95km west of Bollon and was offered to the market with a 2542ha permit to occupy, as well as 600 nanny goats of mixed age with a percentage kidding, as well as Kalahari/Boer cross billies and some plant.
Held by the Lang family since 1987, it was sold by Grace Lang after nine years of ownership.
The sale of Melray was handled by Elders agent Keith Richardson who said the property attracted good interest with nine registered bidders at the auction.
The soft red soil country grows natural grasses and herbage in season and has abundant low mulga reserves where extensive areas have been cut and pushed.
Situated in a 376 mm (Cunnamulla) to 460mm (Bollon) rainfall region, Melray is watered by watercourses, flats and numerous seasonal lakes. A capped flowing bore supplies 9km of poly pipe feeding seven tanks and 12 troughs. There is also an old bore with a small flow.
Infrastructure includes a two-bedroom home, numerous sheds, cattle yards and 30km of new fencing. Two boundaries are exclusion fenced.
Cattle on Melray