Brisbane, 9 June 2014 – Two properties sprawling over 7,000 hectares in Queensland’s highly sought after Arcadia Valley region have been sold for a combined total of $12.25 million.
Two separate Central Queensland graziers purchased Leeora Downs (3,560 hectares) and Lotus Vale (3,499 hectares) for $6.2 million and $6.05 million respectively.
The properties, located approximately 500km north-west of Brisbane, boast highly fertile soils and quality pasture that consistently produce premium grass-fed bullocks and support a profitable cropping operation.
CBRE Agribusiness sold the properties in conjunction with Peter Etheridge Properties on behalf of the McLoughlin family.
CBRE’s Geoff Warriner said despite continuing drought conditions in Queensland, interest in the cattle industry was strengthening.
“While there has been a short term issue impacting the industry given drought conditions creating an oversupply of property and weaker market prices, these two sales are representative of renewed interest in the sector,” Mr Warriner said.
“It is particularly encouraging to see two existing cattle producers investing further monies into the industry and demonstrates there is confidence from within the industry that the future of Queensland’s – and indeed Australia’s – beef sector is bright in the long-term.”
The latest transactions come as CBRE’s Agribusiness team has recorded a flurry of activity in the agricultural property sector.
CBRE Agribusiness, which is only its second year of operation in the transaction space, has contracted more than $24 million of rural property in Queensland during the first five months of 2014, and expects to complete a number of very significant transactions in the second half of this year.
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