Border Rivers water sold in eight-figure deal

More than 2050ML of Macintyre Zone unsupplemented water has changed hands for millions after it was sold through auction. See the details.

More than 2050ML of Border Rivers unsupplemented irrigation water has changed hands after it was sold under the hammer in an eight-figure deal.

Three 686ML licences totalling 2058ML in the Macintyre Zone, each licence with a volumetric limit of 1715ML, were sold under the hammer after they were offered at a Goondiwindi auction on Thursday.

A local buyer in the Darling Downs region with cotton and irrigated farming interests purchased the water in one line, adding the unsupplemented entitlements to their existing portfolio, following a winning bid of $5700 a megalitre.

The three licences were offered individually, with the successful purchaser of the first 686ML allocation given the option to purchase the remaining two lots.

With a bid of $5700 a megalitre, the 2058ML of unsupplemented water was sold for the equivalent of $11.73 million in total.

2058ML of Border Rivers unsupplemented irrigation water has been sold, fetching $5700 a megalitre through auction.

Bidding at the auction opened at $4000 a megalitre, before multiple active bidders increased offers to the winning bid.

Recent water sales in the Queensland-NSW region had fallen in the $5000 to $5800 a megalitre range.

It is understood a private water holder with agricultural interests in the Goondiwindi region was the vendor.

JLL Agribusiness agents Clayton Smith, Chris Holgar and Geoff Warriner handled the sale.

Mr Smith said it was rare for unsupplemented water to be traded in the Border Rivers’ Macintyre Zone.

“There is not a lot of water traded in the region and there are not a lot of chances to buy it,” he said.

“This water, being unsupplemented, gives rights to the water when there is high flow. It comes into its own when people can utilise their existing infrastructure to increase their water capacity on farm.”

The three licences operate under the Queensland Border Rivers continuous accounting system and can be used on either side of the Queensland-NSW border.