This article is from the Australian Property Journal archive
MORE than $140 million is expected for a southern Queensland cattle breeding property that features extensive water and brings additional income from 22 Origin Energy gas wells.
Freeman Pastoral Co has put to market its 24,168-hectare Meeleebee Downs, located 65 kilometres north-east of Roma in southern Queensland, offered as a whole or as any combination of four separate holdings with each having access to solar and electric-powered Precipice bores.
Comprised of six freehold titles, Meeleebee Downs is currently running 3,000 breeders and has an estimated carrying capacity of 9,500 adult equivalents (AE).
This stocking rate is supported by an extensive system of watering points from four bores that tap into the Sandstone Precipice, a major aquifer in the Surat Basin, plus 18 shallow bores that together supply 71 tanks to a network of more than 200 gravity-fed troughs.
The property also has 67 dams, supported by annual rainfall of 561 millimetres.
LAWD has the listing.
The Freeman family was initially impressed by the quality of Meeleebee Downs cattle at a sale in 1959.
“When bought in 1975, Meeleebee Downs was an undeveloped brigalow, bottle tree and belah block and the Freemans set about establishing, on average, four watering points in each paddock, to best utilise available feed,” Kell Freeman said.
“The four solar and electric powered Precipice bores are deep and extremely reliable as they tap into the Great Artesian Basin and are capable of watering the entire holding. We also have frontage to the Slate Hill, Barton and Kangaroo Creeks, and extensive improved pastures of mainly Buffel and Rhodes grass, as well as native grasses and seasonal medics.
“The geographical location of the property means we’re often under early storms, and the rain we had in spring has continued, so we’re enjoying a very good season.”
Following timely rainfall in Queensland, an improving rainfall outlook is likely to see farmers enjoy a more positive first half of 2025, according to Rural Bank.
Meeleebee Downs receives additional annuity from 22 Origin Energy gas wells, a communication tower and a Powerlink easement.
It also comes with a lease on an adjoining former stock route reserve comprising 173 hectares.
The predominantly undulating downs land consists of 10,250 hectares of Brigalow Belah scrub, 5,278 hectares of Poplar Box on duplex soils, 3,815 hectares of Brigalow with Blackbutt and 1,875 hectares of Poplar Box on alluvial plains.
LAWD’s Danny Thomas said Meeleebee Downs is a large-scale holding in one of Queensland’s most secure and proven beef production areas.
“The property is highly developed, it’s undergone significant transformation focusing on water infrastructure and reliability, improved pastures and extensive fencing, and there is the considerable ‘set and forget’ income from Origin Energy’s gas wells,” he said.
“We would expect Meeleebee Downs to appeal to a wide range of potential buyers, from institutional investors or corporate farming groups, to high net worth individuals and existing cattle industry operators seeking to expand.”
Breeder herds are split into three, Hereford, Hereford-cross, and a terminal herd joined to Santa Gertrudis and Angus.
The property has six sets of wet cattle yards and is a short drive from Roma Saleyards, the largest cattle selling centre in Australia.
A six-bedroom homestead was recently re-roofed and is set in established gardens. Accommodation options for staff include a renovated manager’s dwelling, a renovated dwelling and numerous quarters.
Infrastructure includes machinery sheds, workshops, vehicle sheds, a chemical shed, as well as a steel frame aircraft hangar.
