NEIL and Margaret Dunbar's highly developed 1240 hectare (3064 acre) Capella property Mitchell Park (pictured) has been placed under contract for $8.4 million.
The buyers are the Shaw family from Wanditta Station, Capella.
Auctioned by Colliers Agribusinesas, the prime Central Queensland buffel grass country property features three water licences with 2040 megalitres in entitlements.
The contract price is equal to about $6774/ha ($2742/acre). Two of the six parties registered to bid were active at the auction.
Bidding started at $7m and halted at $7.8m. The offer was extended to the passed in figure of $7.925m following about 15 minutes of negotiation in the Eagle Street auction room in Brisbane. The $8.4 sale price was announced on Monday.
Marketing agent Trenton Hindman said the Dunbars had been very patient with the marketing of Mitchell Park.
"Colliers have had it listed for the last 24 months," Mr Hindman said.
"We've seen a circa 100 per cent increase in value from previous offers with this auction result."
Mitchell Park is located 15km west of Capella.
The EU accredited operation is used for backgrounding cattle and intensive silage/bunker feeding.
There is 73ha under a centre pivot, 89ha of flood irrigation, and and 77ha of dryland cultivation.
Retro and Sandy creeks provide year round opportunities to fill the 1350ML dam storages. There is also scope to build additional dam storage infrastructure.
Structural improvements include a three bedroom homestead, machinery shed and workshop. There are also two 1000 tonne silage pits and a 100t Denny silo.
Mitchell Park is divided into six main paddocks, serviced by laneways and holding paddocks. The 500 head cattle yards are made of timber and steel and have a crush, loading ramp.
The versatile property is also said to have potential for leucaena, citrus or macadamias.
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