Buyer snaps up multiple $1M grazing properties in Lake Mary
TWO massive rural properties north of Rockhampton have sold for more than $1million each to the same buyer.
The property at 0 Lake Mary Rd, Lake Mary, sold for $1.35 million on July 13 and 1335 Lake Mary Rd sold for $1.55 million.
Principal at Professionals Emu Park Kevin Doolan said the properties were purchased by the same buyer, who had a grazing interest west of Rockhampton and wanted to use them as a cattle operation.
"The new owner will keep steers there and grow them out and continue as a cattle operation," Mr Doolan said.
He said the new owner snapped up both properties because they were situated close together and it made it a more viable cattle operation.
He said the properties were previously owned by two separate individuals, one who was looking to move on and another who was wanting to retire from the cattle industry.
He said there was significant interest in the properties before they sold.
"They could have sold half a dozen times," he said.
"They went under contract within two weeks of hitting the market."
The 0 Lake Mary Rd property is situated on a 214ha block and 1335 Lake Mary Rd is situated on a 450ha block.
Both properties feature a unique flood plain with ponded grazing pastures, limited trees and good fencing.
They also have an abundance of water with Hedlow Creek frontage and limited irrigation permits.
Mr Doolan said the property market on the Capricorn Coast was "fairly buoyant" with cattle properties like those in Lake Mary in "very high demand".
"It's not uncommon for them to sell straight away once they hit the market," he said.
"Little cattle blocks like that are very popular and high in demand.
"They are hard to find and are tightly held. No one seems to sell them much.
"Once they hit the market they just go."