A historic Queensland sheep station that fostered the rise of one of the state’s most prominent wool-growing families and had a brush with British royalty has hit the market with price expectations of $18 million.
Terrica Aggregation – consisting of two adjoining properties, Terrica and Currajong stations – is being sold as a single or two contiguous holdings.
Terrica Station was established by the McLeod family, pioneers in the southern Queensland agriculture sector who are renowned for their contribution to the state’s wool industry from the mid-1800s.
In the 1930s the property was selected as the location for a weekend stay for the then Prince George during his visit to Australia in 1934.
The homestead, built around 1907, was one of the most modern in the state with a Courier-Mail article canvassing the prince’s visit noting its tennis courts, dedicated “moving picture” plant and the provision of electricity.
The prince was forced to cancel his plans and he was instead represented by the Duke of Gloucester who, records indicate, did spend a weekend at the property.
Terrica became part of a larger aggregation in 2004 when it was acquired by Goodrich family, who had purchased the neighbouring Currajong station in 1982.
The combined aggregation was last sold in 2015 under instructions of receivers, and was bought by LCP Terrica. Ownership of LCP Terrica is split between companies owned by William Lempriere and Stirling McGregor, the co-chairmen of Lempriere Capital, according to the Australian Financial Review.
Combined they encompass 15,989.87 hectares spread over 26 titles.
The property, which is located 56 kilometres north west of Stanthorpe, is being sold by agents Nick Myer and Andrew Williams of Elders Real Estate.
“It is very rare for such an iconic asset to be offered for sale,” said Mr Myer, who added that the property had undergone continued development under the current owners.
“This impressive pastoral aggregation is steeped in history and the owners are to be commended for their continued capital investment to uphold the famous heritage and overall efficiencies.
“Astute investors will immediately recognise the key features that the aggregation has to offer.”
Agents peg the “conservative” carrying capacity of the combined properties at 36,000 dry sheep equivalent, with the land suited to a variety of agricultural applications.
Other features of the property include another six-bedroom homestead, a modern feedlot complex with fully automated feeding system, five and eight-stand shearing sheds, extensive staff accommodation and storage for 355 tonnes of grain.
Keep up with Commercial Real Estate news.