A Queensland-based buyer has bought highly productive New England grazing property The Springs for $5.9 million.
The buyer was looking to complement their existing holdings, and the 1,515-hectare property is suited to breeding or finishing cattle, with the option of fodder production.
Carrying capacity on the fully certified organic farm between 7,500 and 7,800 DSE or 450 to 500 cows.
Soils range from undulating black to red basalt to trap, supporting diverse winter and summer perennial pastures and an abundance of feed due to being very lightly stocked.
Annual rainfall is of 800 mm and rising to 940 mm, and The Springs is watered by 21 dams, springs and 19 water troughs off an automated bore.
The majority of the fences have been renewed within the last 15 years, while the steel cattle yards include double race, backing bars, RPM crush on scales, raised walkway and loading ramp.
Jaimie Pay of Elders Real Estate managed the sale on behalf of Geoff Bassett, whose family had held The Springs for 36 years is selling to consolidate operations.