Property

Codenwarra West listing offers scope in Emerald

Grain Central, June 26, 2019

Irrigated and dryland wheat crops are available to the new owner of Codenwarra West. Photo: Ray White Rural

A LARGE-SCALE irrigated and dryland property close to Emerald in Central Queensland is expected to attract strong interest based on its generous water allocation and a promising season for winter crops now in the ground.

The freehold property, Codenwarra West, covers 3443 hectares, and comes with a 4319ML water allocation in six licences, as well as two storage dams which can hold 800ML and 50ML storage dams.

Located 9 kilometres northeast of Emerald, Codenwarra West features predominantly heavy river flats at the junction of the Nogoa River and Theresa Creek.

The property has 560ha developed for centre-pivot irrigation, of which 460ha is planted to wheat, and an additional 517ha of furrow irrigation.

Its 822ha of dryland cropping has 422ha planted to wheat, and 356ha under leucaena.

Codenwarra West is being offered for sale by the McCullagh family through Ray White Rural, and expressions of interest (EOI) close on 2 August.

Ray White Rural agent Jez McNamara said the EOI platform offered interested parties some flexibility in terms of the property’s 2019 crops.

“Wheat is due to be harvested in October, and the property can be sold with or without the crop.

“Also, the property is fully managed, and the manager could stay in place if that’s what the new owner wanted.”

Codenwarra West is an established producer of cotton on the outskirts of Emerald. Photo: Ray White Rural

Mr McNamara said the property offered the new owner the opportunity to expand existing irrigation capacity through the installation of more centre pivots which could make use of existing water allocation.

The property already has six valley pivots, and improvements include a 30-metre x 15m steel machinery shed with three-phase power, and an additional 12m x 18m fully enclosed steel shed.

A price indication of the property’s value was not provided, but its price is expected to reflect the region’s ability to reliably produce winter and summer crops in a location close to Emerald as a major service centre, and a hub for the cotton and grains industry.

“We want the market to come forward and tell what it thinks.”

Source: Ray White Rural

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