THE family behind the $10 million sale of Spyglass Station in northern Queensland to the state government has re-entered the improving cattle market with the purchase of Niall Station from receivers McGrathNicol.
The Lyons family bought Niall Station outside Charters Towers, apparently for less than $5 million.
It follows the purchase by Agricultural Investment Development Corp of neighbouring property Kangerong Station in March for just under $10 million. That property was also held by McGrathNicol on behalf of Westpac Banking Corporation.
McGrathNicol partner Anthony Connelly confirmed the 43,200-hectare Niall Station transaction. "A contract for sale has been signed for Niall Station including cattle," Mr Connelly said.
Rawdon Briggs and Thomas Warriner from Colliers International Rural and Agribusiness, negotiated the sale which came with 3900 head of cattle.
"John and Ronda Lyons and family look forward to expanding their business in North Queensland as the market confidence returns" Mr Briggs said.
Beef market improving
"Queensland families are re-entering the local property market, particularly in the north, due to the increasing strength of the beef sector including the live export markets."
Mr Briggs said low interest rates and good market values were additional factors for traditional grazing families such as the Lyons to invest in the cattle station market once again.
There has only been a sprinkling of cattle station sales across Queensland this year but the market still has momentum coming with higher volumes last year.
Substantial transactions include the Armstrong family's $23 million purchase of Australian Agricultural Company's Adelong Aggregation and Peter Camm's $28 million purchase of Glenprairie Station for $28 million.
Next in line to be sold is Niall Station's neighbour, the 67,200-hectrare Maryvale Station.
Henry Slaney, of Slaney & Co, which is selling the station with Colliers International, said the station had been held by the same family for 152 years.
The station currently has a carrying capacity of 11,500 head of cattle and has 51,200 hectares of fertile grazing land to the south of the Clarke River. The sale includes 8500 head of cattle and basic station plant.
"Maryvale offers a significant upside to all investors and family businesses," Mr Slaney said.