$10m+ sale for historic homestead

THE historic "North Toolburra” property has sold for more than $10 million.

The historic property, ‘North Toolburra’, was sold for more than $10 million by Harcourts Toowoomba. Picture: Supplied

THE historic “North Toolburra” property has sold for more than $10 million.

The new owners, Jim Wedge and Jackie Chard, will set up the Ascot Charolais stud on the 2500 acre aggregation between Warwick and Allora.

The property was sold by Harcourts Toowoomba.

“The selling price, although significant by any definition, is realistic due to the quality of the property,” Harcourts Toowoomba business owner Mark Abra said.

“The productivity, geographical position, climate and, of course, lifestyle offered by the area were contributing factors to the worth of the property.

“To take a bare paddock and turn it into ‘North Toolburra’ is not possible in a single lifetime.

“‘North Toolburra’ also has significant historical value.

“It was the first property settled on the Darling Downs by the Leslie Brothers in 1840.

“The homestead was built in the late 1850s, when Queensland was a part of New South Wales.

“There have been a number of interesting owners, including a British lord and other such dignitaries.

“In 1926, a touring English cricket team played a Queensland country team on the front paddock and in 1920 Sir Charles Kingsford Smith spent three days on the property giving joy rides in his plane; the first landing on the Downs.”

Mr Abra said the homestead was recently re-built, returning the home to its former glory.

“Jim Wedge and Jackie Chard are excited about their new venture and are looking forward to moving in once they have sold their existing holdings at ‘Ascot’, East Greenmount and ‘Goodwood’, Felton,” Mr Abra said. “As ‘Goodwood’ has been sold, only ‘Ascot’ remains.”

New owner Jim Wedge said after selling his business, McCracken’s Water Services Group — the largest privately owned pumping and irrigation business in Australia — he was keen to take on a new challenge.

“My goal is to build one of the most elite Charolais studs in Queensland,” Mr Wedge said.

“The Ascot Charolais stud is still in the growth stage at present, with about 50 Charolais breeders based at ‘Ascot’.”

Originally published as $10m+ sale for historic homestead