QLD cattle station tops 2020 auction list

Nardoo cattle station sold for $35m under the hammer.

A Queensland cattle station has been crowned the top property sold at auction in Australia this year by one of the biggest agencies, after it fetched an eye-watering $35m.

Nardoo, a 97,500ha cattle station north west of Cloncurry, beat mega-mansions and large estates across the country to fetch $35m, topping the entire Ray White Group 2020 auction list.

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After doing it tough for years, grazing families are finally able to consolidate amid growing industry confidence and the low interest rate environment.

The property had major upgrade of structural improvements in the last six years.

The group held 24 per cent market share nationally in 2020, according to Ray White managing director Dan White, booking 16,000 auctions across the country with the national clearance rate sitting 60 per cent by mid-December, up 7.36 per cent on 2019.

A group statement said Nardoo was “the biggest under the hammer auction sale of the year for not only the Ray White Rural network but the group in total”.

Nardoo has Leichhardt River frontage running back to open forest country.

“Nardoo sold for $35m through Ray White Longreach and Rural Barcaldine Principal Bill Seeney and Ray White Rural Queensland Principal Bruce Douglas.”

Ray White Queensland chief auctioneer Mitch Peereboom saw bidding open at $20m with 11 registered bidders, before the property sold to a local Cloncurry grazier family.

At the time of the sale in September, Ray White Rural’s Bruce Douglas said the result came off a strong year for grazing cattle properties which were exceeding expectations in pricing.

“This is all from Australian large grazing families. A lot of them are expanding their holdings,” he said of the buying interest.

He said the industry “definitely has turned the corner with cattle market picking up and with interest rates so low it really helps”.