Clark and Tait properties sold. Mantuan makes $92.6 million

Clark and Tait: Mantuan make $92.6 million

Property
NAPCo has bought the 133,744 hectare Springsure aggregation for a stunning $92.6 million on a walk in, walk out basis.

NAPCo has bought the 133,744 hectare Springsure aggregation for a stunning $92.6 million on a walk in, walk out basis.

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Details have started to flow on the sale of the Clark and Tait properties, including Mantuan Downs for $92.6 million.

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DETAILS have emerged on the sale six of the seven Clark and Tait properties, including Mantuan Downs, which sold for a stunning $92.6 million on a walk in, walk out basis.

Put to the market in August by Bentleys International Advisory, the sales include:

Mantuan Downs, which sold to the North Australian Pastoral Company for a remarkable $92.6 million, including close to 12,000 cattle. The price is estimated to be $79.6m bare.

That makes the sale price of the 133,744 hectare (330,489) Springsureaggregation about $595/hectare ($241/acres).

NAPCo chief executive officer Richard Brimblecombe said Mantuan would be used primarily as a backgrounding operation, and was a ready replacement for leased country NAPCo had previously held in Central Queensland.

Mr Brimblecombe said he was particularly pleased the five full-time staff at Mantuan including manager Dennis Allpass and his wife Natalie had joined the NAPCo team.

Both the scale and proximity of Mantuan to NAPCo's nearby holding Cungellela was a key attraction for the purchase, Mr Brimblecombe said.

The 46,735ha (115,485 acre) Barcaldine property Barcaldine Downs (including the commercial property Barr's Gully) was bought Rob McGavin for $21m including 15,700 sheep and 700 cattle, or $18.6m bare. The leasehold land was then sold to Andrew Kibble, Toowoomba, for an undisclosed price.

Michael and Kylie McTaggart, Moura, paid $13.5m fopr the 55,800ha (137,884 acre) Alpha property Hobartville.

Boongoondoo and Powella, which cover 45,163ha (111,600 acres), went to a Taroom buyer for $12.5m, including cattle.

Gordon Welsh, Molong, NSW, who is part of the Tait clan, bought Bimerah covering 68,370ha (168,946 acres) for an undisclosed price.

It is understood negotiations are continuing on the 135,200ha (334,086 acre) Blackall aggregation Mount Enniskillen.

The directors of Clark and Tait announced in August they would offer their seven western Queensland properties for sale - 121 years after the large scale cattle and sheep grazing business was foundered.

The pastoral business was founded by James Clark and Peter Tait at Boongoondoo, Jericho, in 1898.

The group expanded quickly during the First World War and represented huge holdings based on sheep and wool growing.

The story Clark and Tait properties sold. Mantuan makes $92.6 million first appeared on Queensland Country Life.

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