Saturday, February 25

Kingaroy cattle property Melrose passed in $5.1m

THE Camm family's 12,868ha (31,798 acre) Kingaroy cattle property Melrose has been passed in at a Ray White Rural auction this morning for $5.1 million.

It is understood the bid was lodged by Brisbane businessman and geologist Nick Mather, who has strong links to the coal seam gas industry.

Mr Mather also owns Manumbar Station, north east of Goomeri.

Melrose is said to run 3000 breeders and is in five freehold titles covering 10,795ha and three leasehold titles covering 2073ha. The property is located 47km north west of Kingaroy.

The auction in the Riverside Centre in Brisbane proved tough going. An offer of $4m was initially made but rejected by auctioneer Philip Parker who immediately used his bid to open the market at $5m.
Bidding moved in a single jump to $5.1m but then stalled.

The property was set aside for about 15 minutes while other urban properties on the Ray White catalogue were offered.

However, no further bids were realised when Melrose was re-offered.


QCL

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