Quarry

<html><body>
The Hurricane Hill Quarry at Culcairn, about 50 kilometres north of Albury, has been sold at auction for $4.5 million.
The buyer, Tranternet Pty Ltd, proposes to hold the property as a long term investment.
Ruralco Property’s state manager for real estate Mike Everard had estimated it would sell for between $3 million and $4 million.
The property is based on a reserve of rhyodacite rock estimated at an unquarried resource of about nine million tonnes.
It recent annual production volumes have been of about 250,000 tonnes with Fairfax Media reporting a permitted expansion up to 750,000t.
<a href="/news/56925-operating-hard-rock-quarry-to-offer-attractive-return" target="_blank">The quarry</a> has operated on the site for about eighty years with building material supplier Boral having acquired the operating licence about twenty years ago.
The auction was on behalf of a descendant of the original family that has owned the freehold property for generations.
The site includes 110 hectares of freehold land, part of which has been cropped or used for dryland grazing.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Culcairn quarry sold

<html><body>
Any investor who has ever thought of owning a fully operating hard rock quarry as an investment will get their opportunity at an auction at the Albury Club on September 16 when Ruralco Property submit the Hurricane Hill Quarry at Culcairn, NSW for bids.
The fully operating quarry is located on Weeamera Road about twelve kilometres southwest of Culcairn and produces crushed rock ranging from 7 mm aggregate up to 63 mm rail ballast.
The quarry is based on a reserve of rhyodacite rock estimated at an unquarried resource of about nine million tonnes with recent annual production volumes of about 250,000 tonnes with a permitted expansion up to 750,000 tonnes.
A member of the BORAL Group operates the quarry under a licence which has about twelve years to run.
The royalty paid by BORAL on a per tonne mined or quarried basis will therefore flow to the new owner as a return on investment
Hurricane Hill Quarry is offered with all extractive licences and permits in place and includes a freehold land area of about 110 hectares or 275 acres, part of which has been cropped or used for dryland grazing.
The quarry is situated about 50kms north of Albury and is a potential beneficiary from regional infrastructure projects in roads and railways in particular.
Ruralco Property agent Michael Everard says that a quarry has operated on this site for about eighty years with BORAL having acquired the operating licence about twenty years ago.
“Ï anticipate that the Hurricane Hill Quarry investment could attract offers in the range $3.5 to $4 million at which price range there would be a potentially attractive indicated investment return to the purchaser”.
Mr Everard adds the offer is to conclude a family inheritance matter on behalf of a descendant of the original family that has owned the freehold property for many generations.
</body></html>

Quarry

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Quarry

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News