Aussie family snaps up Queensland cattle farm at auction

A tightly held 19,734ha southwest Queensland pastoral property has changed hands after it was initially passed-in for an eight-figure sum.

A southwest Queensland cattle grazing property has been sold for the second time in its history after changing hands in a post-auction deal.

The tightly held 19,734ha Wadeholme station, located 96km northwest of Charleville near Langlo, was sold at auction on Wednesday, June 18, after it was initially passed in.

Wadeholme was offered to the market by Garry Washbrook, ending 42 years of Washbrook family ownership of the pastoral property.

Auctioned at the Charleville RSL, Wadeholme was initially passed in at $11.1m following bidding from two competing local grazing farming families.

It is understood the property was then sold post-auction to one of the bidders for an undisclosed sum worth in excess of $11.1m underbid.

The offering of Wadeholme was just the second time the station had hit the market in more than 100 years.

Elders Rural Queensland selling agent Keith Richardson said the Wadeholme sale reflected a stable level of demand in the market for southwest Queensland grazing assets.

“I think the market is solid. Prices have plateaued and there is a bit less activity in the market,” he said.

The 19,734ha Wadeholme station has been sold for the second time in its history, after initially being passed in for $11.1m at auction.

“But as seen today, there is still a solid level of demand in the market.”

The Wadeholme property comprises soft country types and timbers including Gidyea, Brigalow, Box, Sandalwood, Wilga, Blackbutt, Yarran and Mulga on soft red to chocolate soils with scattered Melon holes.

About 8800ha are considered historically cleared with this area home to well established buffel pastures and numerous soft natural grasses and a mixture of salines and herbages.

Wadeholme also neighbours the 30,759ha Noella station, which was sold through auction in a deal worth $27m two years ago.

Brangus breeders Adrian and Megan Forrest, based at Bellona, Augathella Qld, purchased the property in March 2023 from Chinese company, Mathew’s Farm Investment Pty Ltd, which also traded as China State Farms Pty Ltd.

The sale of Wadeholme is the latest in a series of top-dollar cattle station sales throughout Queensland in recent months totalling more than $310m combined.

Earlier this month two further slices of the 10-farm Ray Scott Pastoral portfolio were sold with the 100,930ha aggregation carved up for an estimated $200m-plus.

Then 233,000ha station, May Downs, in the southern Gulf Country was sold by Lord Cattle to Cloncurry-based McMillian Pastoral after commanding a stellar price of $47.5m.