This article is from the Australian Property Journal archive
FLEDGLING Australian investment fund Archipelago Beef Trust has purchased the 187,000ha Ban Ban Springs cattle station in the Northern Territory, 180 kilometres from Darwin, for around $10 million.
It quickly follows the fund’s recent acquisition of Victoria River District cattle stations Riveren and Inverway, still in settlement, for more than $60 million.
All three properties were marketed by Colliers International director for rural and agribusiness, Rawdon Briggs.
Located on a high rainfall area 25km from Sturt Highway, the Ban Ban Springs station has a reported carrying capacity of 11-12,000 mixed age livestock.
Riveren and Inverway were bought from listed Indonesian agri-business Japfa, with the sale including 40,000 cattle.
Japfa paid $39 million in October 2013 for the sites, including 46,000 cattle, to vendors the Underwood family.
Australian Property Journal