‘Bracco’, 35km north of Roma, has sold under the hammer for $4,575,000 million to a Central Queensland cattle operator. At $987 per acre for a total of 4,634 acres, it indicates a significant uplift in value of land from 12 months ago.
“This sale implies a big shift in the Queensland market and increased confidence from people to transact as we are out of drought and beef is producing great returns,” said Mr Hindman of Colliers International, who was marketing the property via auction on behalf of the Henricks’ family.
“Now is the perfect time to sell a cattle property as we are experiencing a good season and other favourable macro drivers; and the locals in the Roma region are realigning their expectations from 12 months ago, when properties were selling at $600 to $700 per acre.
“Bracco is a high quality, low cost cattle operation and this was a great result for bare basis freehold land without improvements. It benefits from the strategic location to multiple beef market outlets, just a short run to the Roma Saleyards.
“The auction campaign attracted over 35 enquiries from interstate and overseas, and we had six registered bidders on the day. Two buyers engaged in competitive bidding, one of who was a Roma local. In the end, a cattle operator from Central Queensland purchased it as one of their production blocks.”
The property features six paddocks with an extensive laneway system and mustering wings. The design of the paddocks allows for a low cost, efficient mustering system with cattle flowing into the laneways and into the central located yards.
Bracco has eight dams and a central bore that supplies a main turkey nest that gravity feeds water to 10 stock troughs. The soil type is Brigalow Belah softwood scrub with a rich volcanic colour.