Separate QLD Property Aggregations Raise $ 110 Million

Brahman cattle on the Kaiuroo aggregation in central Queensland

SERIOUS confidence in the beef industry was once again demonstrated today, with nearly $ 110 million paid for two separate pasture clusters in central and northern Queensland.

In a separate deal finalized this morning, an American family paid around $ 40 million for Nick Burton-Taylor’s large-scale Bellevue cattle ranching business in far north Queensland (details below).

Rural Funds Management spent nearly $ 70 million (bare) for the purchase of the 28,000 ha Kaiuroo aggregation in the popular Mackenzie River district in central Queensland. The aggregation is located just west of Cerberus, an existing livestock property owned by the company.

The sale price of the Kairoo aggregation ($ 68.8 million excluding livestock, factories and equipment) includes 12,448 ml of water rights that will be used by RFM to improve the productivity of the properties.

The works will include expanding irrigated cultivation areas and increasing the carrying capacity of livestock through improved pasture and additional water storage and distribution.

When Kaiuroo’s aggregation was listed in July, sales agents wouldn’t be drawn to a price, but expectations were estimated at over $ 55 million (excluding cattle).

Alumni real estate chief executive Tom Russo said the real estate market has changed dramatically in a short period, with the high price reflecting the current direction of the market.

He said RFM had negotiated an extended settlement period that could take up to two years.

“Both parties committed to the transaction, but RFM was granted a 24 month period to undertake the productivity developments in order to position the property for rental in the future.”

The investment market appears to be extremely confident in agriculture. Two weeks ago, RFM also secured the 1917ha The pocket to Gogango in central Queensland for $ 13.8 million (including a water allocation of 5,364 ml).

La Poche was one of the 21,900 ha prized THF portfolio of beef cattle and irrigated fodder which was sold to five separate Queensland-based family and business buyers for $ 100 million.

Kaiuroo

Located 220 km west of Rockhampton in the Fitzroy River Basin, the Kaiuroo aggregation includes four neighboring farms – 5889ha Kaiuroo, 4528ha Korean, 3636ha Eskfield and 17,914 ha Yambuk.

Located in an area of ​​heavy rainfall, Kaiuroo has rich alluvial floodplains from the Mackenzie River that rise to the brigalow soils on Coreen in the north, and the plateau forest region on Yambuk in the south.

Over the past four years, the group has transported between 4,000 and 7,400 head of cattle.

Kaiuroo supports a diverse production system, including organic certification of beef for international and domestic markets, genetically assessed Brahman gray and red cattle, a seed business, a large-scale irrigation system, and irrigated and arid crops.

Mr Russo said the four properties complement each other.

“Livestock and fattening operations benefit from excellent local cereal, fodder and cotton crops. The cultivation area comprises 1650 ha with organic certification, of which 917 ha are irrigated, ”he said.

Over the past five years, owners, The Rohatyn Group (a multi-strategy investment firm), based in New York City, have invested heavily in irrigation infrastructure.

A connected irrigation system allows wastewater to be reused in Kaiuroo and Coreen, while eight different storage sites provide efficient but low-risk water infrastructure.

In addition to the water rights, the company has two large pumping sites on the Mackenzie River, as well as additional pumping sites on Lake Mary and Lake Meredith.

Strong interest in Kaiuroo aggregation as a whole and in separate plots came from local farm businesses, businesses and fund managers.

Chillagoe’s Bellevue aggregation brings in around $ 40 million

In another major real estate deal this week, an American family paid around $ 40 million for Nick Burton-Taylor’s large-scale cattle ranching business in far north Queensland.

The 211,664 ha Bellevue aggregation, comprising the 85,564 ha Bellevue Station and the neighboring 126,100 ha Nychum Station, presents undulating grasslands of open and wooded savannah dissected by numerous streams and streams.

Located on the Mitchell River near Chillagoe, 300 km northwest of Cairns, it is neighboring Consolidated Pastoral Co’s Wrotham Park.

Mr. Burton-Taylor, who runs Hillgrove Pastoral, has owned both Bellevue Station and Nychum for approximately 20 years. Together, they can carry 15,000 adult equivalents.

Land Agribusiness Water Development (LAWD) agents Col Medway and Danny Thomas were appointed to market Bellevue Aggregation through an expressions of interest campaign that ended in late May.

Mr. Medway was unable to disclose the buyer or the price paid, claiming that the sale of the sole property is still subject to FIRB approval.

“This is a new investment for this family who were looking for an intergenerational property that would also serve as a commercial and recreational beef business.

When Bellevue hit the market earlier this year, industry experts predicted it would make over $ 35 million, including cattle. It is understood that the 10,700 herds of Brahman cross cattle available, along with the plant and equipment, pushed the agreed price beyond $ 40 million.

Mr Medway said American buyers were drawn to conservatively managing a beautiful landscape, offering both compelling economies of scale as a calf factory and a strong emphasis on environmental sustainability.

“Mr. Burton Taylor led the Bellevue aggregation in harmony with the environment, using sustainable grazing practices to enhance economic and natural capital,” he said.

There is an exceptional diversity and abundance of fauna on the aggregation. To date, 174 bird species have been identified, representing more than 20 percent of the species in mainland Australia. The tally does not include unofficial sightings of the Buff-breasted Quail, Australia’s rarest bird species, and the extremely rare nocturnal parrot.

Brahman cattle on the Bellevue aggregation in far north Queensland

Bellevue also has a striking landscape. Elizabeth Falls and Gorge is a significant wilderness area, as is the sandstone escarpment and valley surrounding Elizabeth Creek.

It benefits from 80 km of single and double frontage to the continuously flowing Mitchell River, the largest volumetric river in Queensland.

Other important waterways include the Dry River, Elizabeth Creek, St George’s Creek and Big Watson which generally flow freely during the rainy season, providing permanent watering points during the dry season.

The company is also watered by 87 dams and 37 boreholes.

Mitchell River running through Bellevue

About Aldrich Stanley

Aldrich Stanley

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