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Scheme helps farmers break into rural property market
The federal government will help new farmers looking to purchase or establish their own farm by guaranteeing 40% of their commercial loan, as rising land values and access to capital become the main barrier to ownership. Minister for Agriculture David Littleproud unveiled the new pilot and will trial an 18-month $75 million Future Farmer Guarantee Scheme by securing an eligible new farmer’s commercial loan up to a maximum value of $1 million. The scheme is expected to open 1 January 2023.
Give graziers more time to muster stray cattle: KAP
“National parks should not be purchased unless there are funds to fully fence and maintain the park. They are the worst neighbours one could wish for with little to no weed control, no fences, nobody living on the property, little fire-fighting capability, and a propensity to shoot cattle" : Sally Witherspoon, Cape York cattle farmer.
TFGA: An extension to permitted development rights provided a lifeline for UK farmers – can we do the same in Australia?
In the UK, Pitchup.com supported a successful campaign to extend permitted development rights allowing change of use of land for camping. This small change to planning rules facilitated the opening of 1,000 pop-up campsites across the country over the summer season, primarily at farms, and helped over 300,000 holidaymakers book a much-needed break in the outdoors.
Mayor congratulates Wakka Wakka people on Native Title determination
“It gives me great pleasure to acknowledge the Wakka Wakka People as the traditional, and now, legally recognised native titleholders of approximately 9,393 square kilometres of land covered by this determination”: South Burnett Regional Council Mayor Brett Otto.
Murphy family offloads Singleton pub
The Imperial Hotel in Singleton has sold to a private hotel investor for circa $18.5 million, as market demand for regional NSW pubs pushes on. Sitting around 70km out from Newcastle, in the Upper Hunter region of NSW, the large format Imperial Hotel occupies a ~3,00sqm land parcel, boasts a 31m Hotel Licence, 23 GMES and brings in an average weekly revenue of $105,000.
Macquarie wrap up Australia’s largest cotton station
Australia's largest irrigated cotton property, Cubbie Station, is back in local hands after Chinese textile giant Shandong Ruyi sold its remaining stake to co-owner Macquarie Asset Management. Cubbie Station is responsible for around 10% of the country’s cotton output and is now entirely held by the Sydney-based company.
Cattle station sets district record
Southern Queensland cattle country has been snapped up by neighbouring owners for a district record price of about $9.5 million. The West family from Silver Valley are the new owners of the 2,023 Tamarang property, about 50 kilometres south east from Roma and within the Maranoa region.
Government war chest to buy more Cape property
The state government says it has a war chest to spend on land purchases in Cape York in a bid to right the wrongs of the past ... “Since the Goss government, we’ve united more than one million hectares of protected areas and Aboriginal land. But there remains about 400,000 hectares of national park and reserves and more than 200,000 hectares of other state land yet to be transferred": Queensland Environment Minister Meaghan Scanlon.
Laundy checks in at Port Macquarie
The Laundy Hotel Group has acquired the Mercure Centro Hotel in Port Macquarie as tourism makes a comeback ... “Whilst not housed in the same equity structure as our other beachside accommodation assets in Noosa, Manly and Terrigal; this coastal property intersects perfectly with our national investment objectives, and adds deftly to the growing portfolio,” said new owner, publican Stu Laundy.
Worral Creek tipped to fetch over $400m
More than $400 million is expected for the Worral Creek Aggregation in Queensland, which is tipped to account for over 10% of this year’s Australian cotton crop. The Reardon family is bringing the 26,855 hectare aggregation in the Border Rivers region to the market as record crops and commodity prices attract more investors into the agricultural sector.
Council seeks rate variation rise
The Narrandera Shire Council will lodge a special variation application under Section 508(2) with the Independent Pricing & Regulatory Tribunal for a permanent rate increase of two per cent in the 2022-23 financial year. If granted it will yield additional income of $67,600 in 2022-23 and, assuming a future peg of 2.5%, $757,000 over the ten years of the LTFP.
Buy back of houses in flood risk zones
Houses identified as being at risk in the Kyogle Flood Study are purchased at market value in a voluntary House Buy Back Scheme. Kyogle Council contacts all identified property owners each year and asks them if they would be interested in selling their properties. Only identified properties are eligible for the grant.
Forrest buys WA station from UK investor
Mining billionaire Andrew "Twiggy" Forrest continues to invest in Australian agriculture, snapping up his second cattle station in Western Australia in a month for an estimated $70 million. The circa 604,430-hectare East Kimberley-based Springvale Aggregation sits around 70km north of Halls Creek and is speculated to include 35,000 cattle across four pastoral leases, Springvale, Mable Downs, Alice Downs, and Texas Downs.
Merriwa expects strong harvest from cropping enterprise
More than $10 million is expected for the large-scale Merriwa Pastoral Company cropping portfolio in Victoria’s Mallee region, at a time of strong seasonal conditions and commodity prices.
Publican waltzes into Jolly Swagman hotel
The Jolly Swagman Hotel Motel on the NSW and Queensland border is the latest regional venue to change hands. Affectionately known as ‘The Jolly’, the venue has been operated for over 20 years by local Jim Brown, who cited the buoyed market as the catalyst to sell the asset. More than $2 billion of hotels changed hands in 2021, and the market momentum has carried over into the new year.
Tantanoola gymnasium relocation plan
Sheryl Lowe. The small regional community of Tantanoola in the South East of South Australia has big plans to move their almost one-million-dollar school gymnasium a few hundred metres across a couple of country roads to the town’s sporting complex. We have the skills in our community to do this, Tantanoola local Mr. Peter Altschwager told The News, we just need permission ... Local students were educated at the once vibrant school for 139 years but with recent declining numbers, the Education Minister John Gardner decided to close the school in 2020.
Park Ave DA deferred ‘for one reason’
Geoff Helisma. The Northern Region Planning Panel (NRPP) has deferred its decision to approve (or not) a 136 multi-dwelling proposal in Yamba, pending the development of a draft flood evacuation plan ... As well as calling for an evacuation plan, councillors Tiley and Clancy were concerned that managing stormwater during an extreme weather event, such as the recent Yamba flooding, would be more than the design could handle.
Farmers call for clear land use strategy
The state’s peak farming body is calling on the state government to clearly set out rules around productivity of agricultural land. NSW Farmers President James Jackson said increasing urban sprawl and new developments were eating away at the state’s farming land, which will ultimately reduce the amount of food we can grow.
Goldfields expands further in regional Victoria
Diversified national property development group Goldfields has snapped up three adjoining sites in Shepparton, as they continue to expand their residential platform in regional Victoria. The $15 million combined sites span 44-hectares and have been earmarked for development into a 450-lot strong masterplanned residential community, to meet increasing demand for affordable housing in the region.
London-based owner selling South Australian farm
A 678-hectare landholding in the Booborowie District in South Australia has entered the market. Sitting in South Australia’s renowned Mid-North region, the mixed-use farm is being offered in one line or as two or three separate land parcels, making use of the five certificates of title.
Bramwell to remain open for tourists despite sale
Mark Knowles. The future of Bramwell Station’s famous tourist park and roadhouse is up in the air after the state government purchased the property last week. The two Cape York hot spots will remain open this year but their longer-term future could be on shaky ground.
Threeways Roadhouse hits the market
The Barkly’s iconic Threeways Roadhouse is up for sale. Calling for expressions of interest by Colliers, the roadhouse first sold fuel in the 1960s from a 44-gallon drum until Shell developed the present site including the roadhouse.
