The Darling Downs Portfolio at Jandowae has sorghum as one of its main summer crops. Photo: LAWD/Nutrien Harcourts Dalby

THE FINAL four parcels of the One Tree Portfolio have been snapped up, with four locals paying a combined $19.05 million ($10,812/ha) at auction for prime cropping country in south-east Queensland.

Owned by the US-based Proterra Investment Partners, the 23,595ha One Tree Portfolio was brought to the market in July 2024 and has now been fully divested.

Earlier sales include the 7934ha Umbercollie, north-west of Goondiwindi, which sold to local interests and the 5694ha North Star Aggregation in far northern New South Wales, purchased by Alkira Farms.

Most of the 9966ha Jandowae Aggregation was acquired by Gina Rinehart’s Hancock Agriculture.

The remaining 1762ha, 45km north-west of Dalby, was rebranded as the Darling Downs Portfolio and offered as four separate holdings: 768ha Eurangatuck; 389ha Oaklands; 468ha Dewai, and 137ha Crooks.

All four properties feature highly fertile soils, mostly grey self-mulching clays suited to winter crops such as wheat, barley and chickpeas, and summer crops including sorghum, cotton and mungbeans.

Situated in a 658mm annual average rainfall district, the properties were marketed as having highly efficient and productive cropping country suited to a range of agricultural enterprises.

The sales were conducted on a bare basis and handled by LAWD’s Danny Thomas, Simon Cudmore and Elizabeth Doyle along with Nutrien Harcourts Dalby real estate specialist Ross Murray.

With 13 registered bidders, the agents reported strong competition with brisk bidding.

Only one block was passed in but sold shortly after the auction.

Mr Cudmore described the result as in line with expectations, particularly given current uncertainties such as the Middle East conflict and the diesel supply pressures.

Mr Murray said recent good rainfall will provide the buyers with confidence heading into the winter-cropping season.

Grain Central: Get our free news straight to your inbox – Click here