St Lawrence cattle property sells for $5.7m at auction

A rural property south of Mackay with 300 head of cattle included in the deal has gone under the hammer before 12 bidders.

A rural property south of Mackay with 300 head of cattle included in the deal has gone under the hammer for a massive $5.7m.

The successful auction followed a four-week campaign and further reinforced strong buyer interest in “good quality” rural land, Ray White Rural Sarina agent Kent Street said.

A St Lawrence cattle property has sold for $5.7m at auction.

Bidding for The Peaks at St Lawrence started at $3.5m and quickly rose to $5.5m where parties took it to conclude at $5.7m.

The whopping sale comes barely a month after a property went under the hammer for $6,075,000 and a home sold for $4m before auction, both in the Sarina region.

“There’s a big demand for good quality rural property … and the demand far outweighs the supply at the moment,” Mr Street said.

“The sad part is that we have a lot of great qualified cash buyers looking for properties and not very much to offer them.”

The sale as further reinforced strong buyer interest in good quality rural land.

The sellers initially bought the 2670 hectare Spring Valley Rd property from ITC Timberland about 10 years ago, Mr Street said.

In that time they cleared land, established pastures and set up cattle yards and fences, he said.

There is also a donga-style home with a bedroom, bathroom, office, kitchen and lounge, as well as four extra rooms and an extra bathroom.

The property was sold with 300 cows that either had calves or were in calf.

The property included 300 head of cattle in the deal.

“It’s a place people could just walk into without having to spend a cent on it and operate,” Mr Street said.

There were 14 inspections resulting in 12 registered bidders made up of “mainly people looking to expand in the rural game”, Mr Street said.

“A lot of rural families out there at the moment are in expansion mode who are finding it hard to do so,” he said.

There were 12 registered bidders following a four-week campaign.

“A few wanted it as a stand-alone entry into the cattle market.

“It was a good result. The seller is very happy.”

Mr Street said he had another great property coming up for auction on December 16, with campaigning set to begin at the end of this month.

“I think we’ll get a fair line up for that one as well,” he said.