Georgie Somerset and family have sold Northcotte near Tamworth for $12M bare. Photo: LAWD

Northcotte, NSW

A Dubbo investor has paid around $12 million bare for northern New South Wales farming and grazing country owned by Agforce president Georgie Somerset.

The 1606ha Northcotte is located near Woolomin, 30km from Tamworth and less than 20km from Nundle, in a scenic location near Chaffey Dam.

Benefitting from an average 779mm of rain, Northcotte features mostly black and red basalt soils with 220ha of highly productive irrigated Peel River flats growing lucerne and cereal hay.

Northcotte fronts the Peel River and Copes Creek and is watered by three equipped groundwater bores reticulating water to four 100,000-litre tanks and 40 concrete troughs.

Water allocations include 229 megalitres from the Peel River Regulated Water Source.

The grazing enterprise has an estimated carrying capacity of 9100 dry sheep equivalents, but is currently running 400 Angus cows, as well as trade steers.

Ms Somerset and her family will now focus on their Durong properties in Queensland’s South Burnett region.

LAWD agent Simon Cudmore handled the sale of Northcotte.

Basalt, Qld

One of the few irrigation farms in North Queensland’s Upper Burdekin has been purchased by neighbours Peter and Sue Hammer, Anavale, for $4.8M.

The 566ha Basalt is 25km from Charters Towers, and is close to the Lynd Highway, and 150km north-west of Townsville.

Agent Henry Slaney from Slaney & Co said the auction was contested by five registered bidders – local and away.

Basalt grows Rhodes grass hay and runs 100 mixed cattle, with 40 mixed weaners weighing 200-300kg each included in the sale.

Situated in a 651mm average annual rainfall region, it features a mix of fertile black and red basalt and alluvial Burdekin River frontage soils, well-drained farming land and significant irrigation water.

Basalt farm has 5km of Burdekin River frontage and a 2400ML water entitlement.

Construction of the proposed Big Rocks Weir will provide an additional and reliable water supply.

Cambridge Downs, QLD

Agents from the Resolute Property Group are continuing to negotiate with interested parties, after a Central Queensland cropping and cattle opportunity passed in at auction for $9.45 million bare.

The 1848ha Cambridge Downs is situated in the tightly held Orion district, 38km from Rolleston and 48km from Springsure. For the past 13 years, it has been held by the Tincknell family.

Cambridge Downs comprises 1180ha of self-mulching open downs soils developed to cropping, of which 100ha is irrigated.

Currently, 740ha are sown to chickpeas (previous yields ranged from 1.8 to 3 tonnes per hectare), 320ha to sorghum (estimated 2023 yield 4 to 5t/ha) and 120ha to oats.

The balance includes 600ha of grazing country running around 270 head of mixed cattle.

Cambridge Downs is situated in a 660mm average rainfall region that allows for some opportunistic irrigation under a 100ha centre pivot.

There is a large irrigation dam with a 2290ML capacity, as well as four equipped bores.

Improvements include two homes, a new machinery shed, a workshop, silos, a grain shed and steel cattle yards. Most fences have been renewed in the last nine years, together with 6km of boundary fencing.