Property Roundup: New Yorker’s score 50% stake in QLD farms following a $39m deal

In this week's Property Roundup:

• New Yorker’s score 50% stake in QLD farms following a $39m deal
• Rallen Australia expands cattle station portfolio with recent $49m purchase
• Northwest NSW farming property nears $17,000/ha at auction
• Beef and brewery: New England cattle, cropping and commercial enterprise set for auction
• 11,000ha historic Longreach cattle enterprise up for grabs

New Yorker’s score 50% stake in QLD farms following a $39m deal

Size: 6,622ha

Location: Rolleston, QLD

Sold price: $39m

Rural Funds Management, the entity responsible for the specialist agricultural fund manager, Rural Funds Group has sold a 50% stake in their central QLD landholdings, as ‘Mayneland’ (2,492ha) and ‘Baamba Plains’ (4,130ha) have been partially sold, following a $39m deal with the New York-based investment firm The Rohatyn Group (TRG).

As part of the agreement, a joint venture between TRG and a global institutional investor will lease the two properties for the next decade under triple-net lease terms, with settlement expected early in the financial year 2025.

‘Mayneland’ located 10km northwest of Rolleston, primarily operates as a cotton enterprise with the additional production of sorghum, wheat, mung bean, and chickpea crops.

The ASX-listed Rural Funds Group purchased ‘Mayneland’ in September 2018 for $18m.

‘Baamba Plains’ is situated 25km north of ‘Mayneland’ and was purchased by Rural Funds in 2021 for $32m. The sale included 20,733ML of water entitlements.

The Rural Funds Group announced in statement to the ASX the transaction with The Rohatyn Group will help mitigate Rural Funds' exposure to operating earnings, while also confirming asset values and providing capital from sale proceeds for debt reduction.

Rallen Australia expands cattle station portfolio with recent $49m purchase

Size: 64,700ha

Location: Darwin, NT

Sold price: $49m

Rallen Australia has expanded their Northern Territory landholdings following a $49m deal for ‘Woolner Station'.

Over the past six years, Rallen Australia owners Pierre Langenhoven and Luciana Ravazzotti have invested $207m (including Woolner Station) into an expansive 1.1million hectares of grazing country, making them one of the Top End’s largest private landholders.

‘Woolner Station’ is located 150km east of Darwin in the Mary River region and boasts 18km of coastal frontage.

The property has 48,000ha of fertile black soil flood-plains and receives an average annual rainfall of 1,700mm.

The growing conditions support a variety of tropical pastures capable of carrying large numbers of cattle, historically backgrounding up to 15,000 cattle throughout April to December.

Northwest NSW farming property nears $17,000/ha at auction

Size: 809ha

Location: Pallamallawa, NSW

Sold price: $13.6m

‘Kalua’ a North West NSW farming property situated in the tightly held Pallamallawa district has sold at auction for $13.6m according to Farmonline, equating to $16,811/ha.

Located 42km northeast of Moree, the property features self-mulching clay soils, suited to both summer and winter crops.

‘Kalua’ has 752ha of cultivation and was offered with a 597ha barley crop and 155ha of faba beans.

The vendors, Alistair and Penny Jones have improved soil fertility and implemented a robust crop rotation and weed management program over the past 25 years.

Notable infrastructure includes a four-bedroom homestead, storage shed, two silos and sheep yards.

Terry Adams, Sandy Bailey and Paul Kelly from Moree Real Estate handled the sale.

Beef and brewery: New England cattle, cropping and commercial enterprise set for auction

Size: 1,612 ha

Location: Tamworth, NSW

For sale price: N/A

‘Dungowan Station’ is being offered to the market as a ‘trophy asset’ with cattle, cropping and commercial avenues.

Offered by Campbell and Naree McIntosh, the 1,612ha property is also home to the ‘Dungowan Brewery’ and function centre, which is a redeveloped shearing shed turned into a 150 seat commercial venue.

The property’s alluvial river flats are ideal for the production of lucerne, as well as summer and winter cereal crops for fattening livestock with 144ha sown to winter oats, Prairie and Fescue.

The carrying capacity is suited to hold 320-350 cows.

Notable operational infrastructure includes three centre pivot irrigators watering 37ha of cultivation, with planning in place for a fourth unit.

The property benefits from 2km of double frontage to Dungowan creek and is being offered with two water licenses including 82ML of unregulated river water and 480ML from the aquifer.

The brewery venue is leased on a long-term basis to CH Group. The licensed venue includes a micro-brewery, commercial kitchen, cool rooms, amenities and dining with a restored three-bedroom cottage.

Dungowan Station will be auctioned in Tamworth on July 25, 2024.

Simon Burke from Davidson Cameron & Co and Gavin Knee from Burke & Smyth Commercial are handling the sale.

Size: 10,898ha

Location: Longreach, QLD

For sale price: N/A

‘Rosabel’ is being offered to the market first time in over a century by the Doyle family, with the auction set to take place on July 25.

Located 60km south of Longreach, the property is offered as a ‘rare’ and ‘historic’ opportunity to secure a cattle property, nestled in the heart of the Thomson River channels.

‘Rosabel’ benefits from the frontage to the Thomson River, 4 Mile and Katherine creeks.

The property has a carrying capacity of 1,123 adult cattle equivalents.

Accommodation includes two homesteads with additional shed infrastructure.

‘Rosabel’ will be auctioned by Rural Property & Livestock in Longreach on July 25.

Wally Cooper and Jess Guard are handling the sale.