Blundy in 100m NT cattle stations buy

RETAIL entrepreneur and billionaire Brett Blundy has acquired two cattle stations in Northern Territory for $100 million.

According to the ABC, Blundy in partnership with pastoralists Adrian and Emma Brown have acquired the Walhallow and Cresswell Downs stations from the Macquarie Group’s Paraway Pastoral.

Paraway is become one of the largest property owners in Australia, with a combined land holding of over 3.6 million ha.

The Walhallow and Cresswell Downs stations include 50,000 cattle head as well as 9,990 sqm km in the Barkly Tablelands.

ABC obtained land title documents which show the Blundy and Brown partnership paid $56 million for the land and the remaining sale price was for livestock and plant equipment.

This is the second acquisition by the partners after acquiring the Amungee Mungee Station last year.

The latest deal caps off an active year of activity in the NT. Other sales include Narwietooma to the Davis family; MacDonald Downs to the Scott family; Murray Downs to Australian Green Properties; Bullo River to the Farris family; Wollogorang to TGB Agri Holdings; Stapleton to the Lynch family; Douglas to the Hayne family; Moroak to the Hoar family and Bunda to Consolidated Pastoral Company.

Last month Treasurer Scott Morrison blocked the $350 million sale of the S. Kidman and Co cattle portfolio to Chinese investors on the grounds of national security, because 50% of the Anna Creek pastoral lease is located in the Woomera Prohibited Area, the location of Australia’s top-secret missile base.

The S. Kidman portfolio represents approximately 1.3% of Australia’s total land area, and 2.5% of Australia’s agricultural land. It comprises 10 cattle stations stretching across South Australia, Western Australia, the Northern Territory and Queensland covering 101,411 sq km and managing a long-term average herd of 185,000 cattle.

The portfolio is likely to be divided and sold separately with Anna Creek excluded from foreign investors.

Australian Property Journal