An Australian-based resource company has secured a 41,500ha rural aggregation in Central Queensland in a move that signals a revival in the state’s mining sector.
The undisclosed domestic resource company – backed by foreign private equity – purchased the aggregation, comprising three properties - Iffley, Deveril and Twenty Mile.
CBRE’s Chris Holgar and Geoff Warriner managed the 12-month sale process on behalf of Peabody.
“Marking the first major agricultural transaction of 2018, the sale of these well-known Central Queensland properties is a strong indication that the state’s mining sector is picking up, underpinned by increased global prices for Australian resources,” Mr Holgar said.
“These prominent properties are well-known in Central Queensland, having been under the stewardship of some of Australia’s most established and renowned cattle families. Notwithstanding the fact that the properties were purchased for mining purposes, the sale also highlighted the underlying strength of the agricultural market with the public expression of interest sale process generating exceptional enquiry from domestic and foreign purchasers of high-quality agricultural assets.”
The properties are located approximately 38 kilometres south east of Moranbah, 130 kilometres south west of Mackay and 240 kilometres north west of Rockhampton - the recognised beef capital of Australia.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
