HIGH country Killarney property Mount Colliery Station has sold for $10.25 million to Wickham Farms at a Colliers International auction in Brisbane this morning.
The sale price is equal to about $8193/ha ($3314/acre).
Bidding on the 1252 hectare (3094 acre) property kicked off at $5m before rising to $8.75m. After a short period of negotiations with a number of interested parties, the bidding increased to $10.25m, still with Wickham Farms. After a second break it was announced the property was on the market.
Developed by well respected cattleman, the late Pat Boyle, Mount Colliery sits on country ranging from 800 metres up to 1080m above sea level.
Located about 35km from Warwick in the Killarney district and less than 5km from the Queensland/NSW border, the property is in 11 titles comprising of 20 freehold lots.
The property has fertile rainforest and scrub soils, growing prolific kikuyu and clover pastures.
The average annual rainfall is regarded as 1250mm (50 inches), which is ideal for pasture production. Because of its high altitude, on rare occasions there have been snow events.
There are numerous watering points for livestock across the property. Most are spring fed, which provide a reliable year round water supply. Platypus have been sighted in one of the dams.
The property is at the headwaters of the Condamine River catchment.
The property is divided into 14 paddocks with split post and barb fencing.
An all weather gravel road runs up from the township of Mount Colliery and through the property.
Marketing agent Ben Forrest, Colliers International, said the property was often referred as 'Heaven' because of its picturesque scenery and peaceful ambiance.
"Mount Colliery is cleared and developed, high rainfall country," Mr Forrest said.
"The combination of 50 inches of rain enables the kikuyu and clover pastures to thrive. This highly fertile country is suitable for both breeding and fattening."
The marketing of Mount Colliery was handled by Ben Forrest and Trenton Hindman from Colliers International.
The story Killarney's Mount Colliery sold for $10.25m | Video first appeared on Queensland Country Life.