RANCHLANDS, an elevated 2587 hectare (6392 acre) buffel grass property at Injune, Qld, has sold at auction for $18 million.
Bought by adjoining neighbour Shane Mills, the sale price is equal to about $6958/ha ($2816/acre).
About half of the 12 parties that registered to bid were active at the Resolute Property Group auction held in Roma on Friday.
Estimated to carry about 1000 backgrounders or the equivalent, the well fenced property is divided into 11 paddocks with a laneway system servicing the centrally located set of steel cattle yards.
Water is supplied by 12 dams and a share bore supplying multiple troughs.
Improvements on the freehold property located 15km west of Injune include a four bedroom house and sheds.
Ranchlands was offered by the Pedersen family, which is also selling Wyseby in the Arcadia Valley.
Marketing was handled by Grant Veivers and Ben Forrest from Resolute Property Group.
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