Armidale farming family purchase Qld cattle farm for $25,000 per hectare

A NSW farming family have secured a renowned southern Queensland cattle farm, paying up a record-setting price in the deal.

A NSW farming family have snapped up a premier southern Queensland cattle farm in a record-breaking deal.

The Ninbah North cattle farm, at Nindooinbah in the Scenic Rim region, sold in a deal worth $10 million, with a price of $25,000 per hectare for the 406ha holding.

A family, based at Armidale, NSW, with extensive existing cattle and farming enterprises is understood to have secured the property.

The vendors, a farming family in the region, have owned the property for more than 30 years, acquiring the farm in 1986.

Shepherdson and Boyd Real Estate Toogoolawah rural property agent Mike Barry said Ninbah North was one of the best farms in the region.

“There wouldn’t be any better property in the district. It really is a standout,” he said.

“It would be a record price for a grazing property in the Scenic Rim area.

“There wouldn’t be a better grazing place of that size in the region, that’s why it has commanded such a top-shelf price.”

The vendors had owned the Ninbah North property for more than 30 years.

Mr Barry said the purchasing family were planning to run the farm the same as the vendors, using Ninbah North’s livestock carrying capacity.

It is understood the farm was to go to auction on March 25, but the Armidale family heard of the property hitting the market through word-of-mouth and jumped at the opportunity.

Ninbah North is set on expansive alluvial creek flats fronting Albert River and Cainbable Creek rising to gently rolling ridges.

Substantial water access is also a key for Ninbah North, with about 1km Albert River frontage and a 62ha irrigation licence, two 13ha Zimmatic centre pivot irrigators and 12 dams.

Earlier this month the renowned Upton Farms cattle aggregation was sold in a deal worth at least $70m.