Two vastly different new offerings have come to the market this week with the re-offering of “Wollogorang Station” in the Gulf of Carpentaria and a large irrigated cropping enterprise at Mareeba in north Queensland supporting avocado and sugar cane enterprises predominantly.
The Mareeba enterprise should create strong interest with the avocado industry thriving and  sugar cane getting renewed interest in the north as well as the traditional growing areas such as Proserpine and Mackay. I was talking to a member of the Faust family last week and they have sold their cane interests at Proserpine after a lifetime in the industry.
“Wollogorang” will be keenly watched in the market as it sold in 2015 for approx. $47 million to TBG a Chinese company that also has wine interests in Western Australia. Under their ownership there has been a capital injection of approx. $7 million. Expressions of Interest close in late September with 30,000 head included in the offering.
The Arcadia Valley property “Billabalong” is now being reported to have achieved $22m with plant and cattle included in the sale. The significance of the result is that the result is in line with pre GFC levels of sales in this locale. There will be more of these types of results in the stronger buffel country areas, as money from pastoralists that have sold to the mining companies and the Defence Department re-invest.
The western Queensland property “Retreat Station” covering an area of approx. 142,000 hectares on the Barcoo River, approx. 45 kilometres south east of Jundah has been sold off market by Olive Vale Pastoral in the past few weeks. The carrying capacity is estimated at 12,000 head of cattle and 10,000 sheep.