Rural CQ property sells for $1.8M at auction

The Ogmore property Lexington sold for well above the reserve.

The Ogmore property Lexington has sold well above the reserve at auction for $1.885 million. Picture: Contributed

A RURAL property north of Rockhampton has sold under the hammer for well above the reserve price.

Lexington on St Lawrence Rd, Ogmore, sold for $1,885,000 at auction on July 16.

Marketing agent Bill Hamilton, from Ruralco Property, said only two of the five registered bidders were active during the auction, which was held at Quality Regent in Rockhampton.

Mr Hamilton described the bidding as “spirited” and said the 824ha property sold well above the reserve.

He said there was very good interest in the property, with plenty of inspections before auction.

Lexington covers 824ha of country and has an estimated carrying capacity of 350 adult equivalents. Picture: Contributed

He said the former owners were wanting to relocate and move closer to Rockhampton, where they owned a business.

He said the new owners were going to use the property for livestock and were looking to bring young cattle closer to the Central Queensland market.

READ: Multi-million dollar rural property sells before auction

READ: Massive rural property sells under the hammer for $18.9M

Lexington is described as a “great property, handy to abattoirs and sale yards”, with an estimated carrying capacity of 350 adult equivalents.

Close to Rockhampton, the property has a “good mixture of country and is capable of fattening cattle as well as back-grounding”.

There are three large dams on the property and semi-permanent holes in the creek. Picture: Contributed

The property is fenced into three main paddocks and a large cooler with laneways to new steel cattle yards, which are equipped with a vet crush, calf cradle and undercover race.

There are also three large dams on the property and semi-permanent holes in the creek, which keeps everything “well-watered”. The average annual rainfall is said to be 889mm.

Mr Hamilton said rural properties were in high demand.

“Rural properties are selling really well,” he said.

“We have more buyers than we have sellers.”

Originally published as