Tim Fairfax sells Rawbelle Station in Central Queensland
Rawbelle, the Central Queensland breeding property, sold this week for $4.5 million.
Representing $225/ac bare, Tim and Gina Fairfax's highly-regarded 8228 hectare Biloela freehold EU-accredited grazing station went to auction through Moura agent Gary Bishop Hourn & Bishop.
The buyers were Eidsvold beef producers Paul and Ingrid Hatton and their sons, Adam and Brett. The Hatton’s own Old Delargum, another property not far from Rawbelle, the beefcentral website reported.
There were four bidding with the $4.5 million result achieved soon after being passed in for $4 million.
The property was sold bare, but will comfortably run 1500 breeders.
The Fairfax family has held Rawbelle as their home-base rural property over the past four decades, but decided to sell to consolidate their pastoral holdings in Central and Central Western Queensland.
Tim Fairfax has concentrated on his patroral empire since he, and his brother John B Fairfax, sold their half stake in printer and magazine publisher IPMG to joint owners the Hannan family, in 2003.