This article is from the Australian Property Journal archive
MALCOLM Harris has sold off his Northern Territory breeding property, Benmara Station for $40 million bare to fund his recent acquisition of Brunchilly Station from Gina Rinehart’s S. Kidman & Co.
Beef Central is reporting the off-market sale of Benmara, to Sam Mitchell from Sydney-based Wealthcheck, comes seven years after Harris paid just $12 million bare for the 451,200-hectare property.
Harris has just acquired the 457,000-hectare Brunchilly Station in the Northern Territory through his Cleveland Agriculture, as part of Rinehart’s offloading four northern Australia cattle stations for more than $200 million combined.
Brunchilly neighbours Cleveland Agriculture’s 500,000-hectare Rockhampton Downs, giving the Harris family a breeding holding of nearly 10,000 sq km.
The family also owns Gogo Station in Western Australia’s Kimberley region.
Benmara was sold through LAWD’s Danny Thomas.
Located east of Cresswell and Newcastle Waters, it is estimated to run more than 20,000 head of cattle.
Before Harris’s ownership, Benmara had been owned by the Holt family since 1995.
Australian agricultural land prices are expected to see another year of double-digit growth, according to Rabobank, as farmland sale prices in the early months of 2023 continue to set new records.
