NEGOTIATIONS are continuing a 1283 hectare (3170 acre) olive grove and grazing property on the Dumaresq River near Beebo.
Twin Rivers was passed in for $4.025 million to a North Star family at a Leonard and Co, Raine and Horne auction in Goondiwindi.
Located 57km east of Goondiwindi and 35 km north of Yetman, the primary attraction of the property is its water supply. There are 1565ML in bore water entitlements and 12ML of river water entitlements.
The country ranges from productive river flood plain loam soils to good secondary flat loam country to lighter soils, with small areas of sandy type soils. There is a 3km frontage to the Dumaresq River.
The majority of the property has been cleared and raked for the development of the olive grove and for grazing. About 305ha is serviced by the irrigation infrastructure.
The majority of the infrastructure is described as being in good order with the irrigation system being able to be brought back into production.
The olives were established in 1998 as a managed investment scheme with 150,000 olive trees, now aged 14 to 18 years old.
Improvements include a four bedroom homestead, worker’s cottage, workshop/office, machinery shed, and a chemical shed.
Contact Henry Leonard, 0407 584 406, Leonard and Co, Raine and Horne.
