Property boom continues

Rural property boom continues


Beef Year Book
Mathew Walker’s major Wagyu operation Stone Axe Pastoral Company bought the Glen Alvie aggregation at Ebor, NSW, for $17.5m

Mathew Walker’s major Wagyu operation Stone Axe Pastoral Company bought the Glen Alvie aggregation at Ebor, NSW, for $17.5m

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2007 proved another amazing year for the rural property market with cattle country selling at record levels.

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This year proved another amazing year for the rural property market with cattle country selling at record levels, in line with significant improvements in livestock prices.

On Queensland’s favoured Central Highland’s Russell Lindley, Ray White Rural, Emerald, reported the 10,654-hectare (26,327-acre) Picardy Station, Dysart, sold for a $27 million – a record price of $2534/ha or $1026/acre. Offered by Andy Purvis, Waverly, Augathella, the property was bought by Oranna Agriculture, Bendigo, Victoria.

Further north the Camm Agricultural Group's three Charters Towers beef properties were sold to the Australian owned Rural Funds Group in a deal worth $72.5m. Natal Downs, Longton and Narellan had a land value of $53m. Under the performance-based arrangement, the Camms will lease back the properties.

Other influences were also in play during 2017. Peter Camm’s 27,000ha Marlborough property Glenprairie Station was bought by the Department of Defence for as much as $45m. 

South West Queensland was also in the spotlight with the $20m sale of Tony Clift’s properties Mount Margaret and Kyee. Buyer Usher Pastoral Company also owns the nearby Orient and Norley in the Channel Country, as well as land in the Taroom/Wandoan district. The 634,745ha (1.57m acre) aggregation runs about 18,000 dry cattle. 

Calliope district property Galloway Plains sold under the hammer for $15m, including 4300 cattle. The buyers of the 13,076ha (32,312 acres) were Jim and Chris Neil-Ballantyne.

Mathew Walker’s major Wagyu operation Stone Axe Pastoral Company bought John and Annette Cassidy’s Glen Alvie aggregation at Ebor, NSW. The 2145ha (5299 acre) sold for $17.5m – about $8159/ha ($3303/acre).

In the Northern Territory, notable sales included Ambalindum and Numery, east of Alice Springs. The 7500sq km pastoral leases with 13,000 cattle were bought by Hewitt Cattle Australia for more than $50m.  

Coniston Station sold for $13m, including 5000-plus cattle. Located 285km north-west of Alice Springs, the lease covers 2170sq km.

Gina Rinehart's Hancock Prospecting added two more Northern Territory properties to its portfolio following on from the S. Kidman and Co. purchase in December 2016. Hancock bought the 150,000ha Aroona Station with 15,000 cattle in March and the 171,000ha Indonesian-owned Willeroo Station with about 20,000 cattle in October. 

Beef industry identity Peter Sherwin was also back in the spotlight with the purchase of Broadmere for $7m. The 259,000ha NT cattle property Broadmere Station has an estimated carrying capacity of about 6500 head.

The story Property boom continues first appeared on Queensland Country Life.

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