Spadely Station on North Curtis Island is on the market

A unique freehold cattle station on a tropical Queensland island is on the market with the owners saying it will appeal to a buyer with vision.

A unique cattle station on an island off the Queensland central coast has been put on the market promising to appeal to visionaries.

Rockhampton businessmen John Morris and Pat O’Driscoll are selling Spadely Station, a 1500ha freehold property on North Curtis Island through an offers to purchase campaign.

The property, which has seven freehold titles, has a grassed 850m airstrip, safe anchorage and boat ramp, access to 17km of white sand beaches and coastline, a residential block with building approval fronting the beach, an old Queenslander residence, quality gravel roads and sheds.

Spadely Station co-owner John Morris.

Mr Morris said he and Mr O’Driscoll have been friends since childhood and their families used to holiday together on the island in the 1980s and ‘90s.

“It was the best place in the world the kids loved it and we always went away with a dream that if Patrick and I could afford it we would buy that little section,” he said.

“Time went by in 2016 we knew it was coming up and we decided to have a crack and we eventually got there.

“I’m 73 now and I don’t want to be a cattleman any longer so we are keeping some of the beach and a bit of land so we can go there and have happy times.”

Once owned by visionary cattle baron Sir Graham McCamley and family, the property has been restored to its former glory by its current owners who have spent about $8m in upgrades.

Spadely Station on North Curtis Island is on the market.

According to CoreLogic, through their investment vehicle Bakara Investments Mr Morris and Mr O’Driscoll paid $2.9m for the station in 2019 that covered just over 2100ha at the time.

They purchased it off Dutch real estate investor Universal Partners who paid $10m for 25 freehold titles which at the time covered 2680ha.

The island, south east of Rockhampton, is owned mostly by Queensland National Parks with some tourism and private accommodation. Spadely Station is in the north of the island and is being marketed by Richard Brosnan of Ray White Rural and Greg Roberts of Knight Frank.

The station is being sold with no stock although there is currently a two-year cattle agistment.

Spadley Station.

Mr Morris said there were no price expectations with the only recent island freehold deal being 147ha sold on Dunk Island to Annie Cannon-Brookes. of Atlassian fame, for about $24m.

“I’m guided by what’s happening. The islands are selling but they’re all leasehold and the joy of this place is that it’s freehold,” he said.

“It’s unbelievable and doesn’t exists anywhere else in the world and who knows what the price will be. Someone who appreciates its value will think `I have to get into this’.”

Mr Brosnan said the property was unique. “This property will be heaven for anyone looking for a beach retreat with something extra, combining a productive rural enterprise with year-round crabbing, fishing and boating within the Southern Great Barrier Reef Marine Park, he said.

“What’s more, freehold title fronting the beach is exceedingly rare, and means whoever buys the property will have an intergenerational asset ready for whatever the future brings.

“It’s the ultimate status symbol for any investor – the only freehold island I know of in the Great Barrier Reef that is a rural enterprise.”

Mr Roberts said interest in private islands was continuing beyond Covid with the sales or contracted islands of Dunk, Hook, Long Island Resorts, Lindeman and others confirming the desire for security and privacy for those with vision and means.

“Spadely Station adds an extra dimension to life which we think will appeal to those who love the idea of a beach property, but who want something more to keep them engaged and challenged, along with the tax incentives that go with running a rural enterprise,” he said.