‘$50M’ sale beefs up Central Queensland rural market

WHILE the price tag of three Pegunny Pastoral Company holdings is unknown, the sale of the Moura properties is one of many in Central Queensland to have caught the public's attention.

And a new Herron Todd White report stated that these big rural cattle grazing sales were thrusting the region into the spotlight as being among the most notable transactions in the country.

Last month, Beefcentral.com reported that the three Bauhinia Valley holdings properties were reportedly sold for $50million.

Yesterday, when The Morning Bulletin contacted Elders Rockhampton, a spokesman could not reveal the sale price of the 31,000ha property. He said the deal was a direct transaction between the Pegunny Pastoral Company and the new owners: Hewitt Cattle Australia.

The HTW report stated the recent sale at auction of Seloh Nolem (8615ha, 55km north of Middlemount) was $10.25million. That sale included about $150,000 of plant and equipment.

The HTW report also stated the recent sale at auction of Villafield (1719ha, 7km south-west of Alpha) for $1.75million showed the strong demand for smaller-scale, more affordable blocks.

The Pegunny Aggregation was a highly regarded beef cattle grazing property, about 45km west of Moura, with a rough land area of 21,000ha. "This sale demonstrates the strong level of interest in corporate scale enterprises which are somewhat scarce due to the tightly held nature of this market," the HTW report stated.