ONE of the largest parcels of choice farmland to hit the market in the Gunnedah district in recent years has been listed for sale as part of a strategic downsizing by the Reid family’s Minnamurra Pastoral Company.
Marketed as the “Glenrowan Aggregation”, the 11,331 hectare (27,988ac) parcel is situated 52 kilometres north-west of Gunnedah and 35km north of Mullaley, on the northern edge of the renowned Liverpool Plains.
It comprises 16 individual properties, all but one contiguous, which have been acquired progressively since 2007, when the company began a major expansion beyond its founding base at “Cortina”, Wollar, in the Mudgee district.
That expansion saw other properties variously bought or leased at Walgett, and Bollon and Dirranbandi in Queensland, building Minnamurra into a beef-producing powerhouse, with an annual joining at its peak of 10,000 Angus cows.
More recently the company has become closely involved with the new Speckle Park cattle breed from Canada, and earlier this year it bought the 2525ha “Mount Mill” property at Coolah as a new base for its Minnamurra Speckle Park stud.
Company principal, David Reid, said the decision to sell “Glenrowan Aggregation”, and also a Dirranbandi property, “Oinmurra”, reflected his desire to “scale down” the commercial operation, allowing more scope to develop the Speckle Park venture.
“Glenrowan Aggregation” has been listed for sale with Elders by expressions of interest closing October 7. The quality of the offering coupled with the excellent season and cattle market indicates a likely bidding range between $30 and $40 million.
Under the direction of Minnamurra’s general manager Dennis Power, “Glenrowan Aggregation” has been run as a mixed farming enterprise with a focus on breeding and finishing cattle, fodder production and year-round cash cropping.
Soils range from rich floodplain alluvials to red/brown basalts and sandy red and grey loams. Irrigation water is sourced from seasonal flows in the unregulated Cox’s Creek, which traverses the property, and a bore.
About 4550ha of the total area is under cultivation including 386ha of developed irrigation. A further 2641ha of improved pasture country is arable and offers scope for further development, leaving a balance of 4140ha of natural grazing.
As part of the wider Minnamurra operation, “Glenrowan Aggregation” has had a mixed history of stocking, but as a static cattle breeding concern it is estimated the property could support 3000 breeders, plus cropping and opportunity trading. The main homestead is of weatherboard construction, renovated in 2012, and has four bedrooms, open-plan kitchen/dining area, formal lounge and dining rooms, evaporative air-conditioning and an in-ground pool.
Reflecting the aggregation’s build-up history, there are at least 10 other dwellings of varying size, age and condition scattered across the property, most of them in use. Working improvements include three sets of cattle yards, a 1000-head feedlot, shearing shed and sheep yards, machinery and hay sheds and a hangar.
“Oinmurra”, the other Minnamurra property to be unloaded, has been listed by Elders for auction sale on September 30 at St George. Situated 60km north-west of Dirranbandi, the 12,053ha (29,782ac) breeding and finishing property has extensive buffel grass pastures and reticulated bore water, and has consistently carried 800 to 1000 breeding cattle.
