Dennis family snap up Queensland cattle station for $24.6 million

Two cattle stations have been sold through auction for $40m-plus combined, including one that was sold to a renowned central Qld farming family.

A major central Queensland farming family has added another cattle station to their expansive holdings, paying almost $25 million for a 4300ha property north of Emerald.

The Dennis family have purchased Allambie, near Clermont, acquiring the property from central Queensland cattleman Allan Parker for $24.6 million through auction earlier this month.

Based at the Old Twin Hills cattle station, northwest of Clermont, the Dennis family’s farming history stretches back multiple generations.

Eddie and wife Tricia purchased their first property, Waminda, from Eddie’s parents in 1977, and have since bought several stations in the region including Old Twin Hills, Elgin Downs and Doongmabulla.

The family also purchased the 19,229ha Albinia station, on the Belyando River about 188km northwest of Clermont, for $11.5 million from Dale Appleton in 2016.

The Dennis family’s purchase of Allambie adds to their substantial existing holdings where they predominantly breed Santa Gertrudis cattle.

Allambie, which made about $5711 a hectare, is predominantly developed red and black soil Gidyea brigalow scrub country.

Prior to the auction, Allambie was owned by Allan Parker and family for almost 50 years, recently used for finishing between 1200 and 1500 bullocks a year.

The Parker family also own the 22,583ha Inverness station at Blackall as well as breeding country west of Alpha at Jericho and Aramac.

RBV Rural with Hoch and Wilkinson managed the sale. RBV Rural’s Terry Ray said interest in Allambie was “very strong”.

Allambie spans 4307ha, about 80km north of Clermont in Queensland’s Isaac region.

“There were probably six active bidders and it was sold for more than we anticipated,” he said.

“Our cattle values are only half of what they were 12 months ago, but rural property is a long-term investment and with a high producing asset like this, it is something the purchasers will never regret.”

Meanwhile 200km east of Clermont, the 4077ha Moranna station was sold by central Queensland cattle breeder Pat Moran.

Kirkwood Grazing, based at Clermont, purchased the property through auction earlier this month for $16.35 million.

Six of the nine registered bidders were active at the auction held in Rockhampton by Ray White Rural’s Richard Brosnan.

Moranna station has an estimated carrying capacity of 1200-1400 steers.

Despite economic headwinds including increasing interest rates and softening commodity prices, the rural property market in Queensland has been notably active this year, including the separate sales of Slogan Downs, Rimrock and Binbian Downs for a combined $65m-plus.

Gina Rinehart’s Hancock Agriculture also recently completed the $80 million acquisition of 10,029ha Moolan Downs Aggregation in the Western Downs region of Queensland and 8731ha Ottley Station west of Inverell in northern NSW from Packhorse Pastoral.