Gina Rinehart pushes on with sell-off of NT stations
NORTHERN Territory cattle baron and Australia's richest person, Gina Rinehart has gone ahead with her plans to sell down her Territory landholding portfolio appointing Elders to progress the sale.
Elders says the sell-off represents one of the highest value agricultural land portfolios to ever be offered to the market in Australia and is an investment scale asset on a global basis. The Sunday Territorian reported last November Ms Rinehart's plans to divest properties to focus on more agricultural and cattle opportunities.
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As predicted, the Territory properties for sale are the Aroona, Willeroo, Riveren and Inverway and the strategically located Phoenix Park feeding, export depot and farming operation located near Katherine.
Ms Rinehart is also selling three West Australia cattle stations, the Nerrima, Ruby Plains and Sturt Creek.
All up the properties for sale cover 1.8 million hectares in the NT and WA, with 108,500 head of cattle.
The individual stations are all highly regarded beef production properties with rich histories in the Australian beef industry. Hancock Agriculture has undertaken an extensive and comprehensive capital works program to improve all the properties.
Elders head of agribusiness investment services, Mark Barber said given the strategic advantages and operational efficiencies that can be achieved by operating the portfolio as an integrated beef production enterprise, Elders anticipate receiving offers for a whole of portfolio sale from both domestic and international investors.
"Having said that, there will undoubtedly be strong interest from parties looking to acquire individual assets or larger components of the portfolio, particularly from existing operators seeking to expand their holdings or achieve geographic diversification," he said.
"The flexible EOI structure will therefore allow all interested parties, from single asset buyers to whole of portfolio investors, to participate in the process".
Originally published as Gina Rinehart pushes on with sell-off of NT stations