Stanbroke has sold its 438,000 hectare Normanton property Miranda Downs for a figure reported to be north of $160 million.
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The new owners are Peter and Jane Hughes, who own several properties in Queensland and the Northern Territory and although neither the vendor nor the buyer will confirm the price, media including Beef Central and the ABC mention the $160 million figure, which is five to 15 million more than the expected price.
The property was sold on a walk in, walk out basis including 55,000 cattle.
Miranda is recognised as a particularly productive northern property with a rated carry capacity of 66,000 adult equivalents.
There is an exceptionally good balance of country, comprising of a large portion of coolibah flood plain/river frontage country associated with the Gilbert and Maxwell rivers and the balance of the property runs back to sandy forest country.
Considerable new fencing have been erected in the past four years, including major laneway systems.
A significant amount of capital has been spent on water development during the past four years with most watering points within a 2km grazing radius.
There is also a 6000 megalitre irrigation license on the Gilbert River.
An extensive list of modern plant and equipment was also included in the sale.
It follows big sales in the region of Nardoo which sold for $35 million as well as the Wollogorang and Wentworth stations which went for $53 million.
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Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
