Grand Pastoralists Peter and Jane Hughes reportedly paid a record price close to $ 180 million for the 438,000 hectare (1.08 million acres) Normanton Miranda Downs property.
The Stanbroke Pastoral Co of the Menegazzo family offered Miranda Downs as part of an expression of interest that took place on 3.
Miranda is recognized as a particularly productive northern property. It has a rated capacity of 66,000 adult equivalents.
There is an exceptionally good balance of land made up of a large chunk of Coolibah floodplain / river fronts connected to the Gilbert and Maxwell Rivers.
The rest of the property goes back to sandy woodland.
New fences have been erected on Miranda in the last four years, including the most important path systems.
The 45 main paddocks enable more intensive herd management, are scattered with ten cattle yards and extensive alleys and can be set up in seven weeks.
Bruce Douglas marketing agent, Ray White Rural, said Miranda had been delivering large herds of livestock to Stanbroke’s southern properties and pastureland for the past 24 years.
“Over the past 10 years, Miranda Downs has seen significant developments in water, fences, and yards in particular,” said Douglas.
“This enables more intensive management of the herd and increased productivity through shorter set-up times, higher deposit rates and higher deposit weights.
“Miranda is a quality country in the north with reliable rainfall.
“The new owners have the opportunity to further increase productivity.”
Peter and Jane Hughes and their family are no strangers to the beef industry and already have extensive Wagyu and Georgina Pastoral Co. and certified organic cattle herds strategically located in the Barkly region of central and southwestern Queensland.
Miranda Downs’ neighbors include Strathmore owned by Scott Harris and Vanrook owned by the seller’s brother, Mark Managazzo, who works as the Gulf Coast Agricultural Co.