THE reliable 683 hectare (1688 acre) Brisbane Valley breeding/backgrounding property Rathburnie Station has sold at auction for $2.9 million, well above pre-sale expectations.
Rathburnie was bought by adjoining neighbour Darren Zanow, Avoca, Linville, whose is well know in the construction industry through the family business Zanow's Concrete and Quarries.
Auctioned by Colliers Agribusiness, the sale price equals about $4246/ha ($1718/acre).
A total of 13 bidders were active at the online event, with bidding opening from the floor at $1m. The sale price was $1.86m above the reserve price.
Mr Zanow also bought a 9.5ha (23 acre) Brisbane River frontage portion of Rathburnie for $160,000, which was offered separately at the same auction.
Improvements include four dwellings, numerous machinery and storage sheds, one set of steel and timber cattle yards, and an additional set of older timber cattle yards.
There are water licences enabling for 46ha to be irrigated from a bore located near the main homestead. The property has Brisbane River frontage on its southern boundary.
Rathburnie Station has an existing lease in place with 13 years left to run.
There is also a conservation agreement over the property, meaning additional structures are not permittable.
The marketing of Rathburnie Station on behalf of WWF as Trustee was handled by Leah Freney and Dom McSweeney from Colliers Agribusiness.
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