- Benchmark price for Monaro’s Mooresprings
- Above expectations price for Yass’s Jindalee
- Last Clark & Tait property under contract
THIS week’s property review includes this wrap-up of recently completed sales, and a separate article on interesting recent listings across the country.
Benchmark price for Mooresprings
A district record $6 million ($5430/ha) has been paid for the highly productive NSW high-country livestock enterprise, Mooresprings, pictured above.
Located in the tightly held Bibbenluke region of the Snowy Monaro region in southern New South Wales, Mooresprings was offered to the market just a fortnight ago, for the second time since settlement. Vendors Leanne and Terry Moreing were selling due to succession planning and retirement.
Selling agent Henry Mackinnon from Colliers International could not disclose the buyer, but said it was purchased by an investor adding to their existing landholdings.
“Mooresprings generated good interest, particularly from locals, but it was snapped up prior to the May 7 auction for $6.011m – a benchmark for the region,” Mr Mackinnon said.
The 1107ha fattening and breeding enterprise features mostly fertile black and red basalts soils, which agronomists described as ‘magnificent.’
It can conservatively carry 300 breeders plus followers, as well as 2000 ewes plus followers – equivalent to 10,000 DSE in an average season.
As the name suggests, Mooresprings boasts permanent water from the Moore Springs, plus Tea Tree and Stockdale creeks. Water is also available from the 5.5km Bombala River frontage and nine dams.
Above expectations for Jindalee
Jindalee, a proven high-rainfall southern NSW grazing platform with a history of sheep and wool production, has sold for above expectations at $3.7 million or $7756/ha.
Located in the high growth region of Yass, the 477ha block sold to Graham and Glenda Coffee from Canberra, who hold existing farming interests east of Boorowa.
Jindalee rises from the Yass River and Bowning Creek to undulating and hilly red granite soils with arable plateaus.
Pastures comprise a mix of improved and native perennial grass and sub-clover pasture highly suited to the district’s non-seasonal and can sustainably carry 3650 DSE.
The property boasts a development upside through an approved six-lot rural subdivision. It also features a 500m grass airstrip with approval to extend to 1150m, offering up opportunities to develop an Air Park.
Jindalee was offered for sale via an expressions of interest campaign by Col Medway from CBRE Agribusiness and Delta Agribusiness.
Final Clark & Tait property, Mt Enniskillen under contract
The divestment of pastoral company, Clark & Tait’s prized central and western Queensland grazing assets has been finalised, with Mt Enniskillen near Tambo placed under contract recently.
The buyer is Toowoomba businessman Harvey Black, whose interests include Black Truck Sales, which operates five branches selling Iveco and Isuzu body trucks and prime movers.
Mr Black has other cattle and irrigated cropping interests across southern Queensland, understood to total around 40,000ha. He bought South Giddi Giddi near Goondiwindi in 2014 for about $6 million, adding to an adjoining holding.
No price has been disclosed, but it is understood he paid around $40 million for the land component of Mt Enniskillen.
The 135,000ha cattle breeding and fattening property is made up of three PH leases – Enniskillen, Windeyer and Kelpum on the eastern side.
Pre-sale information suggested the property has a carrying capacity of 15,500 adult equivalents in normal seasons. It was running about 7000 head in June last year, shortly before listing.
Country is a combination of large areas of broken blacksoil downs and gidgee, open downs, scrubby and lighter forest on red loamy soil, running back into inferior range country. About 6000ha has been either pulled or blade ploughed.
Clark & Tait last August placed its seven large western Queensland grazing properties on the market via an expressions of interest campaign through Bentleys International. Mount Enniskillen is the last to be sold.
Earlier sales included Mantuan Downs near Springsure (133,744ha), bought by the North Australian Pastoral Co; Barcaldine Downs, Barcaldine (46,735ha); Hobartville, Alpha (55,800ha); Boongoondoo, Jericho, (48,408ha); Powella, Aramac, (45,163ha); and Bimerah, Longreach,(68,370ha).
The seven properties had an estimated total carrying capacity of about 53,000 adult cattle in normal seasons, or 46,500 cattle and 68,000 dry sheep.