The value of large rural land holdings in the Gold Coast is improving: HTW Rural

The Gold Coast region’s rate per hectare for larger land holdings has been improving, according to the latest rural report from valuation firm Herron Todd White.

This is evident in a recent sale of the Scenic Rim property ‘Wirraway’ which broke a record in the region.

Originally listed for $20 million before being gutted by fire, the property sold for $8.05 million in July.

HTW director Janine Rockliff notes the buyer, a couple from western Queensland, own an adjoining 777.92 ha property which they purchased from the Queensland government for a total of $15.6 million.

This brings their total spend to $23.65 million or $17,602 per hectare gross.

The property is in close proximity of a number of other large holdings transacted in the past three years, including the 865ha Gorge Farm for $6.15 million and 1,345ha Broadlands property for $19.4 million.

Purchasers seeking larger holdings and an increased interest in the area has improved the rate per hectare.