Record discovery: Farm sitting on $1b buried treasure
A Sunshine Coast cattle property which sits on the largest alluvial sand deposit ever discovered in Queensland and could supply the state's needs for the next 35 years is on the market.
The 208.5ha property at Meridan Plains, near the Corbould Park racecourse and a few kilometres from Caloundra, has been the site of a cattle fattening operation for the past few decades.
CBRE's Rem Rafter - who is selling the property CBRE Agribusiness' Simon Cudmore - - said it could be retained for cattle production or suit conversion to a solar farm.
However, he said it was the sand mining potential of the land that made it an exciting investment opportunity. Industry sources say the property could sell for between $7m and $10m.
"The potential of the Meridan Plains sand deposit - estimated at more than 100 million tonnes and worth at least $1 billion wholesale - is enormous," Mr Rafter said.
"This is certain to attract the interest of investors, particularly as Sunshine Coast Council has already granted a licence to excavate sand on a neighbouring property."
The Meridan Plains sand deposit contains more than twice the known resources of sand under extractive approval in the state.
The massive deposit could supply southeast Queensland's sand needs for the next 35 years, or the Sunshine Coast's requirements for 200 years.
A development application to extract as much as 1 million tonnes of sand a year from the property was lodged with Sunshine Coast Council in 2016, with a decision expected shortly.
The property is owned by Jaystin Pty Ltd which is controlled by grazier Graham Page who has held the site for 38 years.
Mr Rafter said the property, which is on three adjoining lots and has frontages to Kawana Way Link Road, Rainforest Drive, Westaway Road, Sattler Road and Honeyfarm Road, is also suitable site for a major solar farm.
"Energex's new 132,000-volt powerline from Mooloolaba to Bells Creek runs adjacent to the property," he said.
"With a national focus on exploring every possibility for renewable energy, the prospect of a new solar farm on the Sunshine Coast is particularly exciting."
However, the property has long been recognised for the beef cattle it has raised and fattened and remains a prime site for cattle production - particularly because of its location and accessibility to markets, and for the reliable rainfall the area enjoys.
A future residential estate could be another possibility, adding further value to the asset, although Mr Rafter said there was no indication from Sunshine Coast Council of a change to the current zoning.
The property is for sale by Expressions of Interest closing Wednesday, December 2.
Originally published as Record discovery: Farm sitting on $1b buried treasure for sale