Rural Sarina property sells for whopping $6m at auction after five-week campaign

The auction comes months after a successful $4m sale reinforcing buyer confidence and interest in rural property south of Mackay.

A rural Sarina property on Sarina Homebush Road sold for $6m at auction. Photo: Ray White Sarina Rural

A rural Sarina property has sold for $6 million at auction, fortifying buyer confidence as well as a high level of interest in the area.

Located on Sarina Homebush Road, the property comprises nine freehold titles spread across two blocks of land.

Ray White Rural Sarina agent Kent Street said there had been 60 inquiries about property, which went under the hammer on Monday after a five-week campaign, selling for a whopping $6,075,000 to a family with existing rural property in the Mackay region.

The 241ha property includes nine freehold titles. Photo: Ray White Rural Sarina.

“There were 10 or 11 registered bidders on the day,” Mr Street said.

The property is made up of 124 hectare and 117 hectare blocks on Sarina Homebush Road and Frank Miles Road – each with a currently rented four-bedroom “well presented” home.

There were also two irrigation allocations off bores, Mr Street said.

The larger block has five freehold titles, while the smaller block has four titles, which Mr Street said gave the new owner more return on investment.

“If the owner wanted to sell half of them off, they can” he said.

Each of the two blocks has a four-bedroom home. Photo: Ray White Rural Sarina.

The successful auction follows the $4m sale of a home at Grasstree Beach Road. Photo: Ray White Rural Sarina.

Mr Street said a Sarina family owned the property and had been in the process of downscaling.

This mammoth sale comes months after Ray White Rural Sarina sold an executive, five-bedroom home on Grasstree Beach Road for $4m days before it was listed for auction.

“It’s probably just reinforcing the confidence and level of interest in rural property around the Sarina region,” Mr Street said.

“It’s been growing over the past 12 months – there’s been a growth in large-type cattle properties.”

Mr Street said cattle high cattle prices “over the range” and a scarcity of good rural properties were a driving force behind these sales.

“Money is not worth anything in the bank,” he said.

“People are happy to take advantage of low interest rates and get in on the land grab.”