BILLA Billa district cropping property, East Gleneast sold to a local interest before heading to auction, signifying the ongoing strength of the market for high quality land.
The 2400-hectare property is located 40 kilometres north of Goondwindi in an area know for fertile, productive soils.
Goondiwindi-based First National Real Estate Sloss & Co agent George Sloss said he was not surprised that Billa Billa district cropping property, East Gleneast, sold before heading to auction.
Mr Sloss and David Sloss handled the transaction on behalf of vendors Ron and Dianne Baldwin.
He said there was strong inquiry for the property before the vendors and undisclosed local buyer entered an unconditional contract last week.
“There was good interest, but someone put an offer in front of him and he took it,” Mr Sloss said.
Mr Sloss said there is still “plenty of interest in the market” especially for high quality country.
“Anything that has come on has sold rather quickly and not just me but all agents.
“There is very few that have gone to the auction.
“It is a bit of an unusual thing that cattle and sheep are all good at the same time as grain, and so it is a perfect storm really.”
The key selling point for East Gleneast was the property’s highly fertile soils, which are a feature for the limited number of properties in the district.
“There is a strip of better soil types that are north-east of Goondiwindi to north-west of Goondiwindi, and it is part of that good agricultural belt.”
Approximately 2060ha had been sown to wheat this season.
East Gleneast is supplied with water from a bore shared with a neighbour.
The almost 5000ha Trevanna Downs Aggregation was the last largescale rural property to sell in the tightly held Billa Billa district.
The property sold for just over $24.6 million or about $4900 per hectare.
Other than differences in scale, East Gleneast is comparable to Trevanna Downs in terms of soil types and average annual rainfall.
Diverse Toobeah operation
As East Gleneast sold, nearby Toobeah mixed grazing and cropping operation, Alma, came to market.
The 1389ha property, located 18km north of Toobeah and 65km north-west of Goondiwindi, will be auctioned on October 7.
About 550ha of Alma has been developed to dryland farming, most of which is wheat and barley, with the remaining forage oats.
A further 400ha could also be cultivated.
The listing is a result of vendors, John and Jennifer Hurley’s plan to move out of the district and relocate to the Toowoomba region.
The Hurleys began downsizing three years ago, following the sale of their 2066ha home property Quellington at Goondiwindi.
Nutrien Harcourts Goondiwindi agent Andrew Jakins said there has already been strong interest in the property.
“We have had good inquiry from both local and away…and we have done a few good inspections,” Mr Jakins said.
The country on Alma is generally flat with small areas of elevated sand.
There is a mix of friable grey belah/brigalow soils to reddish belah box soils and areas of sand ridge.
Alma is watered by four dams and a relatively new artesian bore scheme implemented in the past five years.
Located on the neighbouring property, Alma owns 25 per cent of the private bore (which services five other properties).
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