Newspaper article Daily News (Warwick, Australia)

Last of Leitch Properties to Be Offered Up for Auction

Newspaper article Daily News (Warwick, Australia)

Last of Leitch Properties to Be Offered Up for Auction

Article excerpt

Leitch properties

The Leitch Pastoral Group portfolio once included:

Barangarook, Gore

Brooklyn, Gore

Delamira, Gore

Stonehenge, Leyburn

North Springdale, Texas

Peak Vale, Texas

Hart aggregate, Wheatvale

Lilcar, Wheatvale

Berrima feedlot, Elbow Valley

Burkes Rd feedlot, Killarney

Killarney abattoir

Pittsworth abattoir

Carriswood, Millmerran

Charinga, Millmerran

Weyunga, Gore

Bodumba, Gore

Ennisclaire, Gore

Belvedere, Killarney

Plus other unnamed grazing and cultivation blocks.

Toni Somes

Rural Weekly

IN WHAT signals the end of a challenging era for the Southern Downs rural property market, the last of the Leitch Pastoral Group holdings will be offered for auction today.

At the instruction of receivers, Bodumba station will go under the hammer at an Elders auction at the Palace Hotel at 11am.

The 2500 hectare holding west of Warwick is the final of more than 17 properties - including two abattoirs - located on the Southern Downs and in the Pittsworth/Millmerran region that were once owned by embattled businessman Dudley Leitch.

The former mining magnate was declared bankrupt in November 2011, almost a decade after he started an investment spree that resulted in an enterprise which stretched from processing plants at Pittsworth and Killarney, to irrigated farming country at Wheatvale, feedlots and a swathe of grazing land.

Leitch started buying in 2005 and 2006 and continued through the property price highs of 2008 with the group rapidly accumulating a rural portfolio conservatively valued at $30 million.

But when the company collapsed and the enterprise was put in the hands of receivers it triggered a land sale, which has had a lasting impact on South Downs rural market. …

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