Century-old Central Queensland cattle enterprise hits the market

Check out this week's rural property report: Century-old Central Queensland cattle enterprise hits the market, Benmara Station sells for $26 million as Maryfield and Limbunya return to market, WA farmland boom stalls as buyers retreat and high country farms sell for almost $1.7 million after strong buyer interest.

Century-old Central Queensland cattle enterprise hits the market

Size: 101,600ha

Location: Isaac region, Queensland

Sale method: Expressions of interest closing October 29 at 12pm (AEST).

Price guide: N/A

One of Central Queensland’s largest cattle enterprises has hit the market, with Laglan Pastoral Company offered for sale after almost a century of operation.

The transaction covers 100 per cent of the company’s issued shares, including the 101,600ha Laglan Station in the Isaac region, at least 11,000 cattle and the plant, equipment and infrastructure supporting its breeding, backgrounding and fattening enterprise.

LAWD, in conjunction with Veivers Property, have been enlisted to sell the aggregation.

Laglan Station comprises about 39,200ha within Laglan lease and about 62,400ha within Madison lease, with the two leases making up the 101,600ha aggregation.

The eastern boundary of the property is located about 116km by road north-west of Clermont in Queensland.

The pastoral leases have rolling terms, with Laglan’s current term extending to 2049 and Madison’s to 2039.

LAWD Director Jaclyn Hope said the transaction’s structure would provide continuity for the buyer.

“The Vendor is seeking one transaction with one purchaser for 100 per cent of the shares in Laglan Pastoral Company,” Ms Hope said.

“Laglan and Madison are held under rolling term pastoral leases registered to the company.

“As a share sale, the water licences, cattle brand and other registrations required to operate the aggregation remain with the company, providing continuity for an incoming purchaser.”

The property has a demonstrated carrying capacity of about 14,500 Adult Equivalents and operates a predominantly Brahman-based enterprise, with flexibility to target feeder markets.

About 50,700ha has undergone vegetation management and pasture improvement.

Its country ranges from developed brigalow and gidgee scrub to coolibah floodplains, box and ironbark areas and western forest breeding country.

Water infrastructure includes frontage to the Belyando River and Fiery, Fox and Dunda creeks, 28 dams, nine equipped bores and a poly pipeline network servicing tanks and turkey nests.

Farmbot technology provides remote monitoring.

Veivers Property Principal Grant Veivers said the property’s varying land types supported each stage of production.

“The forest to the west carries the breeders, with progeny able to move forward onto the developed brigalow, gidgee and coolibah for backgrounding and finishing,” Mr Veivers said.

“The water, laneway and cattle-handling infrastructure connects those areas as one production system and allows cattle to be efficiently moved and worked across the aggregation.

“It is an established breeding-to-bullock operation rated at around 14,500 AE.”

Infrastructure includes about 40 main paddocks, 27 holding paddocks and 45km of laneways linking three principal cattle yards.

There are also multiple residences, sheds, stables, a campdraft arena and an airstrip.

Expressions of interest close on October 29 at 12pm (AEST).

Benmara Station sells for $26 million as Maryfield and Limbunya return to market

Size: 451,176ha

Location: Barkly Tablelands, NT

Sale price: $26 million

A major Northern Territory cattle station has sold for $26 million, marking a $14 million fall from its 2023 purchase price.

UK-based livestock producer Shaun Davis, through newly formed Benmara Land Holdings, acquired the 451,176ha Benmara Station in the Barkly Tablelands, according to the ABC.

The property, about 100km west of the Queensland border, was offered for sale via expressions of interest in 2025, with price expectations of about $40 million.

Benmara was bought bare of livestock by WealthCheck founder Sam Mitchell for $40 million in 2023, with US investment firm Hartree Partners.

The owners planned to undertake a carbon project using the Human Induced Regeneration methodology, but it failed to generate carbon credits and was revoked in December 2025.

WealthCheck entered liquidation in 2024 and Benmara was subsequently listed for sale after being largely destocked.

At the time of last year’s campaign, CBRE Agribusiness agent Andrew Loughnan said the property had benefited from favourable seasonal conditions.

“During this period, the property has benefited from good rainfall and better pasture growth, making the clean skin cattle an attractive prospect for an astute operator,” he said.

Benmara has an estimated carrying capacity of 17,500 Adult Equivalents, along with developed water infrastructure, accommodation and cattle handling facilities.

The sale comes as two other former WealthCheck properties, Maryfield and Limbunya stations, return to the market through LAWD.

The properties reportedly sold for more than $100 million combined in 2022.

The 521,883ha Limbunya Station is a beef breeding and backgrounding operation with an assessed carrying capacity of 40,000 Adult Equivalents, 54 permanent bores and 14 dams.

Maryfield spans 147,300ha and supports breeding, backgrounding and finishing, with capacity for more than 15,000 Adult Equivalents and a 9800-head feedyard.

Both properties are leased to an agricultural tenant under long-term agreements and are for sale by expressions of interest closing on October 22 at 12pm (ACST).

WA farmland boom stalls as buyers retreat

WA’s rural property boom has stalled, with buyers retreating after five years of rapidly surging land values.

Raine & Horne Rural WA’s Peter Storch said rising costs, interest rates and erratic rainfall had replaced fierce competition for farmland.

“The WA rural property market now is experiencing, in my opinion, a transition towards a somewhat more cautious, value-driven environment,” he says.

“Values are probably remaining resilient, but buyers such as neighbouring farmers, corporates and overseas investors are becoming highly selective.

“Instead of the urgency to transact that has impacted volumes and prices across the state, buyers are just sitting there watching and waiting.”

The slowdown follows five years of growth driven by corporate investment, strong commodity prices and favourable seasons.

“Land that was worth $2 million in 2020 is now worth $4 - $5 million. It's been significant growth.”

Mr Storch said the market had plateaued over six to eight months, rather than fallen sharply.

The Wheatbelt, about 300km east of Perth, is particularly subdued, with limited listings.

“The Wheatbelt is a cautious market, with a wait-and-see buyer environment,” he says. “The Federal Budget hasn’t helped, along with three interest rate increases this year.

“Listings are in short supply, and buyers with large lumps of money are just sitting on the fence.”

Price and dependable rainfall are now decisive, with correctly priced properties selling while overpriced farms struggle.

That shift is driving interest in Sherlock, a 591.48ha Westdale holding about 105km east of Perth, from farmers in marginal cropping districts.

“The farm’s been in the same family for 125 years,” Peter says.

“It's been farmed very conservatively because the family focused on livestock rather than cropping - with only a few oats cropped there.”

Offered for $6.5 million with vendor terms available to approved purchasers, Sherlock comprises 12 lots across nine titles and receives average annual rainfall of 440mm.

About 440ha is considered arable, while the property currently carries approximately 3500 Merinos and has previously run 70 to 80 cattle.

It features 17 paddocks, 14 dams, two bores, productive loam soils, a two-bedroom homestead, shearing shed, steel yards, silos and machinery and hay sheds.

High country farms sell for almost $1.7 million after strong buyer interest

Size: About 664ha across three properties

Location: Upper Murray high country, NSW

Sale price: Just under $1.7 million combined

Three historic high country farms adjoining Bago and Maragle state forests and Kosciuszko National Park have sold through public tender for a combined sum of just under $1.7 million.

Tenders for McPhersons Plains, Oakvale and Bowens Retreat closed on September 4, with all three properties finding buyers following strong interest from across NSW, Victoria and the ACT.

Meares & Associates’ Sam Meares said the campaign demonstrated the depth of demand for secluded rural holdings in the region.

“The sale process highlighted the excellent demand for lifestyle rural retreats, especially in the high country of the Southern Alps,” he said.

“With properties ranging from 150m above sea level to about 1,200m above sea level, the three farms brought buyers from as far away as Sydney, Melbourne, Canberra, as well as closer Riverina centres such as Wagga, Albury, Coolamon, Griffith, Adelong and Tumbarumba.”

Offered for sale on behalf of Ardenside Station, the properties span a combined area of about 664ha and range in size from 57ha to 518ha.

The farms played a role in the history of the Upper Murray cattle industry, serving as stopover points when cattle were walked from Ardenside Station, near Tooma, to about 65,000 acres of forestry leases in the Snowy Mountains during spring, summer and autumn.

The holdings have since largely returned to their natural state, with pristine rainforest timber prevailing.

Oakvale also extends along about 3km of the well-known Paddy’s River.

Marketed with combined price indications of about $1.2 million, the properties generated more than 250 enquiries and about 45 inspections, culminating in a large number of tenders for each holding.

Prospective buyers included beef cattle producers, academics, conservationists, hunters and shooters, families seeking rural retreats and local landholders looking to expand existing holdings.

Individual sale prices and the buyers’ identities were not disclosed.

“Apart from its natural beauty, its closeness to major centres together with the ski fields in the snowies all added to its appeal,” Mr Meares said.