Neighbour pays huge sum for 15,000ha cattle station
A Newcastle-based family which made its fortune in car dealerships has sold their leading cattle breeding property in the western Darling Downs.
Nearby landholder, Bidgel Grazing Co. bought the 15,411ha Dalkeith Station, in the Flinton/Teelba region east of St George, that had been owned by the Bradstreet family since 2012.
JLL directors of Agribusiness Clayton Smith and Chris Holgar refused to comment on the sale price but during the campaign industry sources expected it to sell for between $18m and $20m.
Mr Smith said the sale received strong interest given the turnkey nature that included the breeding herd, with numerous groups inspecting, resulting in four parties submitting offers to purchase.
"The simplicity of the deal was eventually the preferred criteria for the vendors decision," he said.
"The sale was settled on a walk-in-walk-out basis."
The sale was part of a divestment strategy by the Bradstreet family of their substantial rural holdings which coincides with the planned retirement of their long-term rural manager John Wilson.
The sale coincided with generally a good season and expectations of a strong cattle market.
The property features extensive improved buffell grass pastures and established cultivation.
Farming plant and equipment as well as 1100 Angus cross cows, 500 PTIC Heifers (first calf), 300 recently joined heifers and 80 working Angus Bulls were included in the sale.
Some 400km west of Brisbane, Dalkeith is a productive pastoral property underpinned by practical operational infrastructure, secure stock water resources and highly productive land and soil types.
"Since being acquired by the current owners in 2012, Dalkeith has been progressively developed with significant investment made into pasture improvement, regrowth clearing, exclusion fencing and livestock handling and feeding infrastructure," Mr Smith said.
"In addition, approximately 1850ha is presently arable providing further flexibility and scope to grow grain and fodder crops. Another 1500ha previously farmed has been sown to improved pasture."
"The property also features two sets of cattle yards strategically located to minimise stock movements and an extensive water reticulation system from two artesian bores is complemented by overland flow dams and waterholes in Bidgell creek, providing the utmost level of water security."
"The estimated carrying capacity of 2000 breeders was confirmed in the recent 2018-19 drought with these numbers held, plus productively growing out all progeny to feeder age on crops."
Originally published as Neighbour pays huge sum for 15,000ha cattle station