ON THE outer Barcoo (“where the churches are few”), sits not only the putative shanty of the Michael Magee immortalised in one of “Banjo” Paterson’s popular verses, but also one of Australia’s premier pastoral properties.
Portland Downs Station, at Isisford in central western Queensland, is one of two properties – the other is “Cotswold” on the Condamine River – owned by the Netherland-based investment company, Salentein.
Founded in 1992 by Dutch businessman Mijndert Pon, Salentein is a company with global interests in beef and grain production, wine and hospitality, much of it centred in South America. Salentein burst upon the local scene in 2005 when it bought “Portland Downs” and “Cotswold” to establish an integrated beef operation, breeding weaners on the former to grow out and fatten on the more intensive “Cotswold”.
Mr Pon died in 2014, and now his successors are selling both Salentein’s Australian properties as part of an asset realignment. The properties have been listed for sale with Elders and will go to auction in Brisbane on June 1. “Portland Downs” was previously one of the pastoral jewels in Clyde Agriculture’s crown. Clyde bought the property in 1992 from Dalgety as mortgagee for the failed Portland Downs Pastoral Company, reportedly for between $5-$6 million. Under the latter ownership the property achieved fame in 1987 for turning off the largest privately-owned woolclip Australia had seen. It sold for $1.4m in Brisbane ($3.2m in today’s terms).
Clyde continued the woolgrowing focus, carrying 20,000 Merino ewes (including 4000 studs) on “Portland Downs” plus about 1400 cows. The company had no plans to sell in 1992, but succumbed to an offer reportedly “too good to refuse”. Under Salentein, the production focus shifted to cattle and the property has carried in normal seasons 6000 cows (branding 80 per cent calves), although under present semi-drought conditions the carrying capacity is estimated at 2000 cows.
A property of some 86,800 hectares when purchased from Clyde, “Portland Downs” is now an aggregation of 99,990ha (247,000ac), following the subsequent annexation of the adjoining property, “Wynstay”. Situated immediately to the north of Isisford and about 100 kilometres south-east of Longreach, “Portland Downs” is described as “naturally sweet” grazing country of predominantly red pebbly soils, rising from creek systems to rolling, shaded downs. About 7600ha of gidyea scrub has been pulled, cleared and sown, leaving generally open country covered with Mitchell and Flinders grass.
Average rainfall is about 450mm (150mm recorded so far this year) and as alluded to above, the property has frontage to the Barcoo River, which has permanent holes, plus creeks, three flowing (capped) bores and 38 equipped dams.
Structural improvements include four homesteads, four shearing sheds, six sets of cattle yards (two new), plus extensive shedding and quarters. Interest in the famous “Portland Downs” is expected from both sheep and cattle interests, with recent sales indicating a cow value range in this region of between $2500 and $3000.
