Agribusiness boss finds a home at Clearwater
A 1300-hectare grazing property, south of Glenmorgan in Queensland, has sold for $1.475 million to veteran agribusiness executive Richard Brimblecombe and his wife Eleanor.
The property, west of Brisbane towards Roma, was sold following an auction run digitally through the SoldOnline platform and brokered by Colliers International’s Peter Uebergang.
Mr Brimblecombe is well-known in rural and financial circles. He was appointed chief executive of one of the country’s largest privately held cattle companies, the North Australian Pastoral Company, or NAPCo, last last year.
Before that he had led livestock funder StockCo for several years following executive roles at Suncorp, Namoi Cotton, Landmark and Commonwealth Bank of Australia.
The Glenmorgan property on Windermere Road, known as Clearwater, is well-established with a four-bedroom house, a yard and sheds. It has a carrying capacity of 330 head of cattle.
The property is well-watered, with two natural water courses with deep channels and permanent water holes. Box, pine and gum trees line the banks of the creek.
Grazing operations
The property’s water licence and allocation allows for 60 megalitres of extraction for irrigation purposes, which helps to drought-proof the grazing pastures.
A reservoir, along with stock dams, rainwater tanks and stock troughs support the grazing operations.
Fully fenced to its boundaries, Clearwater has 13 paddocks with pastures of Rhodes grass, buffel, creeping bluegrass and bambasti.
The property was put up for sale with an asking price of $1.6 million. Bids started at $1.3 million and closed at $1.34 million, according to the bidding history tabled on SoldOnline platform. Clearwater changed hands after the auction.
The adoption of online auctions for agricultural land has accelerated during the pandemic and virtual auctions show signs of remaining popular even after restrictions have eased.
In May, SoldOnline, founded by auctioneer David Scholes, achieved its highest price under the virtual hammer when it sold 26,512-hectare Listowel Downs, a noted beef and sheep property south of Blackall in western Queensland, for $12.6 million.
