25 Jun 2018

Richards family wastes no time with $10m rural property buy

Queensland-based Rich List family the Richards have snapped up a prime grazing property in the Brisbane Valley for  about $10 million.

The dynastic Richards family, estimated to be worth $500 million, is behind the major waste management business JJ Richards & Sons.

The property, on Gatton Esk Road, is one of the Brisbane Valley's largest cattle properties,  just 60 kilometres from Brisbane's CBD.

Comprising 2340 hectares, the property has 27 dams and is on the south-eastern side of the Brisbane Valley town of Esk.

The property was sold at auction through Ray White Rural's Jez McNamara, who declined to comment on the buyer.

Land titles records show the property has now settled, with the Richards family buying the property for $10 million, adding another to the family's collection of rural holdings, which include a 600-hectare holding near Stanthorpe.

The property also has 800 hectares of cultivation traditionally used to grow watermelons and pumpkins, making it ideal for further development for fodder crops or improved pasture.

And neighbours need not be concerned about the confluence of the family's day job. The property will not be used for any waste management initiatives and solely as an agricultural enterprise. 

 

SOURCE ; https://www.afr.com/real-estate/richards-family-wastes-no-time-with-10m-rural-property-buy-20180622-h11qab

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