NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT 32. SUBSEQUENT EVENTS Disposal of property, plant and equipment Annual Report 2013 107 There have been no other significant events after the reporting date which require disclosure in the financial report� Both properties are presented in the Finished & Store Cattle operating segment in note 6 to the financial statements�  The Brighton Downs sale is being conducted by Elders Real Estate and was passed in at auction on 22 May 2013 for $10�25 million, with  negotiations continuing with interested parties� Under the sale agreement, AACo will lease back 7,800 hectares (19,200 acres) of mostly high quality cropping land for a five-year period at a  commercial rate� In addition, AACo will sell the purchaser 4,000 steers at an average price of $1�64 per live-weight kilo� AACo will retain 8,400  hectares (20,700 acres) of property within the Goonoo aggregation, including all water licences, irrigation infrastructure, feedlots and feed mills  and the major balance of housing and capital works� The contract is subject to conditions including Minister’s consent, regulatory approval and financier approvals� The expected completion date for  the contract is late June 2013� The sale represented a gain over the carrying book value, based on a recent independent valuation� The properties  consist of three adjacent dry land farming and grazing properties within the Goonoo aggregation, totalling 19,404 hectares (48,000 acres) -  Adelong, Marilla and Rhudanna�  On 20 May 2013 the Company announced it had exchanged a contract for the sale of subdivisions of its Goonoo aggregation, including Adelong, in  Central Queensland for $23 million� On 18 April 2013 the Company announced it would sell two non-strategic Queensland properties, Brighton Downs and Adelong�