Slogan Downs, Rimrock and Binbian Downs: Three Queensland farms sold for $65m-plus

A mix of corporate and family buyers have paid millions as three tightly-held Queensland farms were snapped up in separate deals.

The 2406ha Binbian Downs was sold for the first time in 50 years.

Three premier Queensland farms have changed hands to locals and corporate buyers in deals worth more than $65 million combined.

The Gear family has sold Slogan Downs, a 15,604ha cattle station located 80km south of Charters Towers in central Queensland.

The property was scheduled to be auctioned on May 11 on a walk-in walk-out basis, which included about 2000 EU-accredited Santa cattle, however it was sold prior to auction.

When listed for sale, it was expected the property would fetch offers worth $8000 to $12,000 per beast area.

The price of the deal remains undisclosed, however it is understood the property was sold at the upper end of the price guide.

With a long-term estimated carrying capacity between 2800 and 3000 adult cattle equivalents, the property could have made more than $30 million.

It is understood an undisclosed corporate buyer with existing properties in Queensland has purchased Slogan Downs to join a multi-asset aggregation.

The 2000 EU-accredited Santa cattle were included in the walk-in walk-out deal.

Nutrien Harcourts Queensland selling agent David Woodhouse handled the sale.

The 10,010ha Rimrock station was sold in a post-auction deal.

Meanwhile, Ross and Madeline Clark have offloaded Rimrock, a 10,010ha backgrounding, finishing and breeding property, 600km south of Charters Towers and 37km east of Rolleston.

The Clark family was offering the property for the first time in 70 years.

Initially passed in at auction for $22 million, it is understood the property was sold post-auction for a slightly higher figure to a local grazing family.

Resolute Property Group’s Grant Veivers and Ben Forrest handled the sale.

And on Wednesday, the Kennedy family parted with its 2406ha irrigated mixed farm Binbian Downs, 24km northwest of Condamine in Queensland’s Western Downs region.

The Kennedy family’s Binbian Downs was sold under the hammer on Wednesday.

The property was sold under the hammer for $12.2 million to the Croftby Cattle Company from Boonah.

The property was listed for sale for the first time in 50 years when it hit the market in early April.

There were four active bidders on the day as the bids climbed to the equivalent of $5071 a hectare, from an opening bid of $9 million.

Binbian Downs was established in the 1850s, along with the larger pastoral stations in the Maranoa region.

JLL Agribusiness selling agents Clayton Smith, Geoff Warriner, Chris Holgar, and James Mitchell handled the sale.