Multi-million dollar rural property sells before auction
IN A sign that the rural property market appears to be untouched by COVID-19, a multi-million dollar Central West holding has been sold well before its auction date.
Scheduled to be auctioned on April 8 at Blackall Cultural Centre, the 16,547-hectare (40,889 acre) Barcaldine property The Patrick was sold two weeks early for $180 an acre, which totalled more than $7 million.
There was strong interest in the livestock property located 20km south of Barcaldine on the Landsborough Highway.
Ruralco Property GDL received more than 20 inquiries.
According to rural property specialist Des Cuffe, it was a neighbour who put a “satisfactory offer” to add the property to their holdings.
Mr Cuffe said original owners Stewart and Anna Weir from Alice Springs made the decision to sell the property after only owning it for a “short while”.
“It was out on its own and they had bought other country,” he said.
“They sold it to consolidate their holdings.”
Mr Cuffe said the property was in a good location with plenty of feed on country that responded very quickly to rain.
He said with three capped bores supplying water to some 40 troughs and 20 tanks across the property, water was a key selling feature.
“It is a very well-watered property,” he said.
The trough system is backed up with an earth tank and seasonal holes in Patrick Creek and Alice River.
The property has a homestead complex that includes a well-kept four-bedroom and two-bathroom home.
Mr Cuffe said there had been a fair bit of interest in rural properties in Central West Queensland lately.
“A number of properties have been sold prior to auction,” he said.
“The property market has seen a hiccup due to COVID-19 but the cattle market has remained strong.
“I predict this will remain an underlying strength for the market moving forward.”