Picardy Station, Booberoi: Two QLD farms sold in $75 million-plus deals

A pair of Queensland farms have been offloaded by a Victorian-based agricultural investment fund and a UK investor. See the details.

Picardy Station has been sold for a figure understood to be worth about $45 million.

Two major Queensland farms have changed hands in recent deals worth more than $75 million combined.

Victorian-based agricultural investment fund Tiverton Agriculture has offloaded its central Queensland cattle and cropping property Picardy Station, located 10km from Dysart and about 100km north of Emerald.

Tiverton first listed the 10,619ha property for sale about two years ago after it had undergone a four-year transformation from predominantly a cattle breeding and finishing property to a large-scale dryland farming operation, growing sorghum, chickpeas and cover crops.

The property was then relisted for sale earlier this year.

It is understood a local central Queensland producer has purchased the property, reportedly paying $45 million.

It is also understood the purchaser will continue to use the property for both cropping and cattle pursuits, adding Picardy to their existing holdings.

At Picardy Station, 7819ha or 74 per cent has been developed for dryland cropping with the remaining 2800ha used for grazing.

Tiverton Agriculture have offloaded their 10,619ha central Queensland cattle and cropping station, Picardy.

LAWD senior director Col Medway handled the sale and said the property attracted predominantly institutional interest in the property as well as some from central Queensland producers.

Picardy Station has also been baseline assessed in preparation for a sequestration project.

The sale ends Tiverton’s six-year tenure at the property, which began when they purchased the holding in 2017 from Augathella’s Purvis family for a reported $27 million.

Meanwhile in southern Queensland’s Macintyre River region, a 3144ha mixed dryland and irrigation farm near Goondiwindi has been offloaded by its UK-based owner.

Booberoi, owned by investor Mark Robinson for almost 20 years, listed the property for sale earlier this year where it was listed for sale for $31 million.

Terms of the deal remain undisclosed with a private buyer securing the property.

Located 22km south of Toobeah and 72km southwest of Goondiwindi, the property has 1028ha developed for irrigation with 522ha planted to cotton.

There is also 1005ha of farmland for grazing with the 955ha balance used for dryland cash cropping or forage crops.

Henry Leonard and Mark Barber from Elders handled the sale.