Glenbank on the Darling Downs sells for $2.52 million

Glenbank on the Darling Downs sells for $2.52 million
Glenbank on the Darling Downs sells for $2.52 million

Glenbank, a 236-hectare property on Darling Downs has sold for $2.52 million to a local businessman, equating to about $10,640 per hectare.

The prior nearest price for similar size and quality property in the Brookstead area was about $9880 per hectare, Ray White noted.

Ray White Rural Pittsworth's James Croft said there was "exceptional competition" at the auction after 20 inquiries, 12 inspections and 11 registered bidders.

"The bidding was frenzied," Croft told Fairfax Media.

It was fuelled by commodity prices with sorghum at $400 a tonne and cotton at $600 a bale.

Tags: 
Rural Sale Darling Downs

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