Negotiations are continuing after prime Belyando district grazing property, Laglan Station, was passed-in at auction today for $60 million at Gracemere Selling Complex.
However, the St Albans lease, comprising 35,000 hectares, which was one of the three adjoining leases offered as a total aggregation, has been sold post-auction for an undisclosed amount to Ralph and Bev Rea, Beresford, Clermont.
Laglan Station, located west of Clermont, and the adjoining leases of Madison and St Albans, owned by Charles and Grace Lund, were offered as a total parcel of 137,300ha, along with 10,000 head of cattle.
While the Rea family has secured St Albans, the Laglan and Madison leases were passed-in to the Bradshaw family of Doug and Jan Bradshaw, Taroom, and Adam and Renee Bradshaw, Mitchell, who are still continuing negotiations with the Lund family.
More than 200 people were at the auction to see bidding start at $50 million, before hitting $60 million in less than five minutes with bids coming from the crowd and also via a phone bidder.
When bidding topped at $60 million the auction ended with Elders Real Estate agent and auctioneer, Virgil Kenny, saying the price was under the reserve.
* More details in this week's Queensland Country Life, December 18 edition.
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