ADJOINING Queensland-New South Wales border properties Garrawilla and Belmore are to go to auction in March to test the market for well-improved irrigation country with stellar water assets.
JLL directors of agribusiness Clayton Smith, Chris Holgar and Geoff Warriner have been appointed to manage the sale of the 1,723-hectare Garrawilla and the 518ha Belmore at Mungindi.
Currently operated by the Grey family, Garrawilla and Belmore primarily produce cotton as well as winter cereals.
“We expect significant interest, particularly given the momentum of the agricultural sector following an extremely strong 2020 in terms of sales and market focus,” Mr Smith said.
Across both properties, 1406ha has been extensively developed as flood irrigation, with the balance featuring grazing and support land providing the opportunity to extend.
The offering is predominantly wilga, belah and coolibah country on quality black and grey clays.
“These types of clays are considered highly productive lands suitable for cotton and cereals.”
The topography of Garrawilla and Belmore is floodplain that has been laser-levelled to a gradient of 0.5-2 per cent to facilitate flood irrigation and to allow for capture of water during high-rainfall events.
“Significant development works have been completed across Garrawilla, including 911ha of developed irrigation being converted to a Padman Stop field watering system scheduled to be completed, with 648ha currently established,” Mr Holgar said.
“The result of the Padman Stop irrigation systems and introduction of a 60-inch row crop configuration has been greater water efficiency and minimisation of labour.”
Border River-Barwon Zone water entitlements totaling 5993 and 1300 megalitres underpin Garrawilla and Belmore respectively, and the aggregation can hold 7000Ml in on-farm storages.
The properties have more than 25,000Ml in their current accounts.
Recent changes to the Border Rivers and Moonie Water Management Protocol allow temporary transfer of water-harvesting entitlements during announced periods up and down stream, and between valleys in NSW.
“This offers the potential for an additional source of revenue.”
If not sold prior, Garrawilla and Belmore are to be publicly auctioned bare on 18 March.
Garrawilla and Belmore were previewed on Grain Central in an earlier listing.