Courier Mail
Edition 1 - First with the news FRI 20 APR 2007, Page 090
Fruitful sell-off at Beaudesert
By Richard Finnila

FRESH fruit mogul Sam Coco has sold his family hobby farm at Beaudesert in an off-market deal believed to be worth about $15 million. Industry sources said the price had ``easily'' set a record for the district, eclipsing the $8.55 million price tag set by ``Nindooinbah'' in 2005. It is understood Mr Coco had been contemplating selling the property ever since injuring his chest in a recent quad bike accident. Some rural agents suggest the purchaser, Ross Kiernan, formerly from Cloncurry, may have snapped up a bargain, catching Mr Coco at an opportune time. Mr Kiernan is an avid race horse owner with a number of horses stabled in nearby studs.
The 3500-acre property is off Kerry Rd in what locals call Beaudesert's ``Golden Triangle''. It comes complete with a mansion homestead set among four acres of award-winning gardens, all within close proximity of Nindooinbah and the Elysian Fields polo ranch, which has about $20 million worth of infrastructure. Ray White Beaudesert principal Danny Bukowski said the price tag had easily set a new benchmark for Beaudesert.
It boils down to $1417 an acre.
``Without a doubt this would have to be a record,'' Mr Bukowski said. ``The property has beautiful gardens and 500 to 600 acres set on beautiful river flats.''
It's understood Mr Kiernan invested a lot of time researching the area before buying into the district. Mr Kiernan sold off his Ross J. Kiernan Tipping Transport business last year to International Energy Services. The district has seen several multimillion-dollar sales in recent years, driven in part by the thriving race horse breeding industry and the ``Magic Millions'' race carnival. A 100-acre horse stud at Biddaddaba, 10 minutes drive east of Beaudesert, sold for $3 million last month. The vendors, Trevor and Sue Ahern, are also looking to sell another 96 acres of land next door.
Caption:  HOBBY farm sale . . . Sam Coco sold for an undisclosed price. [Illus:  Photo Column:  Prime Site Section:  REAL ESTATE]

This property has recently been "weeded" by aerial spraying. The outcome has alarmed many in the local community and is currently subject to investigation by several Queensland government agencies. Logan and Albert Conservation Association hopes to work with community members to achieve better environmental outcomes in future.