The Carson Family Portfolio announced for sale

BRISBANE, 31 January 2023 – For the first time in 48 years, the Carson Family Portfolio of three best-in-class properties in the Balonne region of Queensland has been announced for sale by JLL Agribusiness Directors Chris Holgar, Geoff Warriner and Clayton Smith.

“The Portfolio (Ooraine, Somerset and Hooloovale) has been progressively acquired and developed for almost 50 years by the one private farming family, with its offer to market providing a unique opportunity to acquire a productively diverse 18.180.46 hectare, mixed-farming enterprise within Queensland’s Balonne region,” said JLL Agribusiness Director Chris Holgar.

“Given the rarity of the offer and the strength of the agribusiness market, we expect strong interest from existing local producers, agricultural consortia and corporate investors nationally, as well as from overseas interests,” he said.

Benefiting by best-in-class irrigation development, dryland farming and grazing, the Portfolio is situated near the township of Dirranbandi on the lower Balonne floodplain, some 580km west of Brisbane, and is managed as two distinct hubs with irrigation and grazing on Hooloovale (6,144.58 hectares) and dryland farming and grazing on Ooraine and Somerset (12,035.48 hectares).

Across the Portfolio irrigated and dryland farming and grazing areas have been established to capitalise on the productive soil types, which cover predominantly meandering Coolibah floodplains interspersed with open woodlands.

Operationally, the irrigation areas of Hooloovale total 471 hectares, and are underpinned by three storage cells of 9,811 megalitres. Recently completed development includes the upgrade of pumping infrastructure enabling a daily lift capacity of some 635 megalitres. Centred around irrigated cotton, pulses and winter cereals have also been grown.

Complementing the irrigation area on Hooloovale are grazing areas to the north which are protected from flood events by a four-kilometre levee bank. In times of raised river levels, this levee bank can be opened enabling the beneficial flooding of grazing pastures, thus extending the growing season.

Ooraine and Somerset are located to the south of Dirranbandi and are operated as a single hub, featuring extensive dryland farming areas and grazing.

Dryland farming areas on Somerset total1,295 hectares and have historically hosted winter cereals and can be increased (by an estimated 1,000 hectares) to capitalise on further black soil Coolibah plains to the south. Of particular note, dryland farming on the property has produced a yield of 3.7 tonne to the hectare for the last three years (2020 to 2022).

From a grazing perspective, the Portfolio has been developed to cater to both sheep and cattle with shearing sheds and yards nearby. Stock water is provided by two artesian bores with fencing well-developed and replaced as part of an annual program. Historically run as a core merino breeding herd, terminal sires and opportunistic trading/agistment of cattle the Portfolio is considered to have a combined carrying capacity of 15,500 Dry Sheep Equivalent (DSE).

Ooraine Pastoral Company commenced in 1975 with the purchase of Ooraine Dirranbandi from the Estate of Guy Elliott. The Elliott family had owned the property since the end of the first World War. It was a prize-winning Angus cattle stud accompanied by a flock of renowned merino sheep.

In 1979 the operation expanded with the purchase of Hooloovale from Randal and Blyth Lampard. The Lampard family had owned Hooloovale for sixty years before it was purchased by the Carson Family. Hooloovale with its large areas of flooded country was known for its heavy carrying capacity. There was originally 4,450 hectares of flooded country which has since been levied and a best-in-class irrigation development progressively constructed along the Culgoa River. The first two cells were completed in 1998, followed by cell three which was built in 2017. In total there is 9,811 megalitres of on-farm storage (plus surge area) to service 471 hectares of irrigation. Hooloovale provides significant scope for expansion from both a dryland farming and irrigation perspective.

Somerset, which adjoins Ooraine, was purchased from Michael Hill, St George in 1988. Mr Hill developed 1,295 hectares of dryland farming to compliment the grazing areas. Further development potential exists today to increase this dryland area by approximately 1,000 hectares. Of particular note, the dryland farming areas have produced a yield of 3.7 tonne to the hectare for the last three years (2020 – 2022).

Ooraine Pastoral Company has successfully operated as genuine mixed-farming operation centred around a prime lamb breeding flock based on a core merino herd and terminal crosses. Diversification of this core business with both dryland and irrigated cropping has meant Ooraine Pastoral Company has been able to benefit from favourable seasonal conditions and successfully perform over the past 48 years.

The Carson Family Portfolio will be offered to market from February 6 via Expressions of Interest closing March 16.