THIS week’s property review includes this wrap up of recently completed sales, and a separate article on interesting recent listings across the country.

• New England’s Warrane secured for renewable energy
• $30m for prestigious NE Victorian grazing
• The Searles expand with CQ’s Yerilga Station
• Hiawatha in Qld’s South Burnett achieves the asking price

 

ORIGIN Energy has paid in excess of $35 million bare for the large-scale New England grazing operation Warrane in northern New South Wales.

The 7690ha beef cattle, prime lamb and Merino wool enterprise, rated to run 58,000 dry sheep equivalents, is located 18km north-west of Armidale.

Warrane, pictured above, was purchased in 2007 for a reported $22 million by MH Premium Farms owned by Lord Michael Hintze, a British-Australian billionaire businessman and philanthropist based in the United Kingdom.

LAWD agent Col Medway was unable to disclose the price paid, but said it was an extremely strong result.

“Warrane was strongly chased by several renewable energy companies who recognised the potential of the property and as a result, it achieved well and truly above agricultural values.”

Mr Medway said Warrane sits within the New England renewable energy zone (REZ).

“When developing a wind farm, it is important to consider the impact on neighbours and the 7690ha land area is certainly a nice buffer.”

Under the ownership of MH Premium Farms, Warrane had benefitted from significant capital expenditure on laneway and road improvements which has made the property more efficient to manage.

It also offers plenty of upside in terms of land development. Of the 2027ha granted for clearing, only 325ha has been completed.

It is understood Origin Energy will maintain the productive capacity of Warrane and is hoping to retain the current staff.

 

$30m for prestigious NE Victorian grazing

One of the most prestigious rural holdings in north-east Victoria has sold for around $30 million, ending more than ten years ownership by the Beddison family.

Allanvale is situated 9km east of Avenel and 27km north-east of Seymour, at the foothills of the Strathbogie Ranges – a region renowned for its temperate climate and 602mm average annual rainfall.

Elders agent Nick Myer was unable to disclose the buyer or the price paid however, when the property was listed late last year, it was offered with a $30 million price guide.

The 1233ha Allanvale features productive and versatile land suited to cattle, wool, prime lamb, equine and cropping pursuits.

The current management has conservatively run around 350 cows and 140 replacement heifers. However, these numbers could be significantly increased to around 650 to 700 cows.

The structural improvements are described as excellent and include quality steel cattle yards, three shearing sheds, extensive machinery, and a world-class surveillance and monitoring system.

There has been extensive natural sequence farming development, ongoing pasture improvement and soil amelioration.

Abundant natural water is supplied via the Reedy and Larrys Hut Creeks, two bores and spring-fed natural catchment dams.

Allanvale boastes a six-bedroom homestead featuring elegant interiors designed by John Coote, set within a Paul Bangay garden setting.

Nick Myer and Henry Mackinnon from Elders Rural Services handled the sale.

  

Searles expand with CQ’s Yerilga Station

The Searle family from Collinsville has expanded with the private purchase of dependable breeder country in central Queensland’s North Burnett region.

The 2335ha Yerilga Station is located at Mingo, 18km south of Mount Perry and 50km from Gayndah.

Tom Manns from Ray White Rural was unable to disclose the price paid but said it was a good result for breeder country that offers value for money.

For the past four years, the low-maintenance calf factory has been owned by Lloyd Stranks and Leanne West who are downsizing but staying in the area.

Mr Manns said the vendors made substantial improvements, including upgrading water security and fencing, in a bid to drought proof the property.

Yerilga can support 500 breeding cows and replacements. The vendors have been running a core breeding herd of Brahman, Angus and Wagyu bloodlines, consistently turning off weaners and fat cull cows.

Situated in a 900mm plus average rainfall district, the undulating plateaued grazing with soft native pastures is presenting with a full body of feed following recent good seasons.

Yerilga is well watered by 11 dams (six of which are spring fed), one bore, two solar pumps, multiple natural springs and 10km of creek frontage.

 

Hiawatha in Qld’s South Burnett achieves asking price

Rob and Angela Linneth have paid $3.5 million for Hiawatha in the tightly-held and renowned Goomeribong district of Queensland’s South Burnett.

The 324ha block, suitable for cattle and hay production, is located 10km north-west of Goomeri and 85km west of Gympie.

The country comprises 222ha of well-developed narrow and broad leaf ironbark country, 40ha of steeper grazing country and a 60ha creek flat, of which four hectares are currently irrigated.

Hiawatha is comfortably running 150 breeders or 220 adult equivalents.

Water is supplied by two bores, permanent holes in Wonga Creek and six dams.

The sale of Hiawatha was handled by Rob Atkinson from the Professionals Gympie.