30,757ha Noella Station sold by Chinese company to Adrian and Megan Forrest

A southwest Queensland grazier family has purchased a 30,757ha cattle station previously owned by a Chinese company for three decades.

A Chinese company has sold its 30,757ha southwest Queensland cattle station through auction in a deal worth $27 million. 

Mathew’s Farm Investment Pty Ltd, which also trades as China State Farms Pty Ltd, has offloaded the Noella Station, via Middle Creek Rd, Charleville, through an auction in Brisbane on February 28, to a local grazier couple. 

Brangus breeders Adrian and Megan Forrest, based at Bellona, Augathella Qld, purchased the property with a winning bid of $877.84 a hectare, beating three other active bidders on the day. 

Noella, located 85km west of Augathella, was purchased by the Forrests to add to their existing grazing holdings in the greater southwest district, which holds their Gidyea Stud. 

Elders Real Estate selling agents Keith Richardson, Rob Anderson and Mark Barber handled the sales process. 

Mr Richardson said the sale of Noella achieved about expectations given the solid interest in the property.

“It is certainly a nice property and is in very good condition and has been a good property for livestock production,” he said.

The 30,757ha Noella Station was sold through auction on Tuesday, February 28

“The vendors have owned the property for about 30 years and they decided it was time to vacate.”

Sydney-based Mathew’s Farm Investment Pty Ltd has owned the Noella Station for 32 years.

The property was initially scheduled for auction on February 14, but postponed until February 28 because wet weather had delayed several inspections.

During their tenure, they have used the property for breeding, backgrounding and fattening cattle. 

Noella comprises a mixture of pasture and soil types supporting Buffel grass, soft naturals, Gidyea burr, numerous salines and herbages. 

Noella is also well-watered in excess of 45 earth tanks and dams with 18 main grazing paddocks plus numerous small and holding paddocks. 

The station was also marketed as being in good health as it was enjoying an excellent season with much of the country “being spelled” over the past four years.

There is also more than 58km of new three-barb and four-barb fencing. 

The sale comes after one the largest privately-owned beef producers in Australia, the Consolidated Pastoral Company, recently expanded further, acquiring the 4882ha Langley Station in central Queensland.

In a deal worth about $17 million, CPC acquired cattle, plant and equipment from cropping and land development.