Former Glendowner Dam, Beaudesert project land sold for $15.8 million

A Gold Coast family has spent more than $15 million on three rural properties sold by the State Government that were earmarked for the abandoned Glendowner Dam project at Beaudesert.

The auction last Friday saw the properties sold for a combined $15.8 million.

Ray White Rural reportedly sold the three properties to an undisclosed Gold Coast family who bought them to create one landholding.

Ray White Rural Queensland agent Peter Douglas said there were 45 registered bidders.

“Throughout the campaign we had buyers come from interstate but today all three sold to one Gold Coast based family who have bought them to turn into a farm,” he told The Courier Mail.

A 556 hectare holding sold for $11.5 million in an auction with 14 registered bidders while a multi-titled 146.6 hectare parcel sold for $3.1 million and a 75 hectare lot went for $1.2 million.

Close to the Gold Coast, the properties are about 60 kilometres from Southport and 70 kilometres from Brisbane.