Our clients have farmed this land for more than 40 years and over that time have acquired several neighbouring properties. The 13 adjoining titles that they now own encompass approximately 1000 acres of land. Most of the land is used for cattle grazing which generates as very humble income in comparison to a highly profitable 140 acre portion of the property used for the production of turf. There is more than enough water located on the property in dams and bores to service the turf farm, even during the current drought conditions affecting the region. The total profit generated by the combined farming activities for the FY2018 was approximately $876,000.
The turf farm has been in operation for the last 13 years and is a very well-established business with low overheads and a very strong and diverse wholesale customer base. The turf farm only requires 3 staff to operate and is run under management with general oversight from the owner.
Whilst the income and constant growth of the turf farming operations offer stability and good cashflow, the current owner realizes that the biggest opportunity for this property relies on a re-zoning of the property which would require the approval of the Queensland State Government.
Opportunities will always be available to submit new re-zoning applications to future Governments in Queensland however the patriarch of the family (who still runs the cattle operations on the property at the age of 74 years) is ready to call it a day and leave this opportunity in the hands of the next owner.
REAL ASSETS (Freehold)
250 mature mango trees