Tuesday, February 28

Mining frenzy fuels mini-property boom, in patches

While the breathtaking, mining-fuelled sale of Central Queensland property Moray Downs for $110 million grabbed national media headlines recently, that outcome is just the tip of the iceberg in an emerging two-speed property market in some areas of the state.

It’s a development that carries a variety of implications, a Brisbane audience was told on Friday.

While Moray Downs owner, Acton Land and Cattle Co’s Graeme Acton denied there had been any sale of nearby sister property, Iffley, when interviewed by Beef Central last week, property title records tell a somewhat different story.

A title search clearly shows that in August last year, Macarthur Coal bought 26,000ha of country on Iffley, located southwest of Mackay, for a price of just over $38 million.

Technically, the Actons may still own ‘Iffley’, but title records show its size has now been reduced by almost two-thirds, from 41,000ha to just 15,000ha.


Beef Central

No comments:

Post a Comment