Aussie families snap up Qld cattle empire for $200m-plus

The late Ray Scott’s sprawling 100,930ha pastoral portfolio has been carved up, with 10 farms sold to nine different buyers. See all the details.

The Queensland cattle empire of a late trucking icon from South Australia has been carved up in a series of deals estimated to be worth well in excess of $200m.

Two further slices of the 10-farm Ray Scott Pastoral portfolio have been sold after the 100,930ha aggregation was listed for sale by the Mt Gambier-based Scott family in May last year, following Ray Scott’s passing in 2020.

The 51,940ha Carse O Gowrie at Ravenswood on the Burdekin River, in the Charters Towers region, recently sold to the Pini family of Lancewood Station on a walk-in walk-out basis, including in excess of 5000 breeders.

The Pini family’s Lancewood Station spans about 16,000ha near Nebo, about 100km south of Mackay in North Queensland.

Also sold earlier this year was the 9190ha Echo Hills at Surat in the Maranoa region of Queensland, with the Scott family of Roma securing the property. Sold on a walk-in walk-out basis, more than 1000 breeders were included in the sale.

Meanwhile, negotiations are ongoing for the 10,032ha Ingaby at St George on the Balonne River, which is the final piece of the expansive pastoral portfolio not yet formally sold.

Industry sources have suggested the Ray Scott Pastoral portfolio deals have been worth well in excess of $200m, for the land itself, not including any cattle, plant or equipment sold walk-in, walk-out.

Last year the portfolio’s Fairfield Aggregation was sold between six buyers, with the seven-farm aggregation fetching more than $150m in total.

The aggregation was auctioned on October 2, offering a combined 29,798ha, about 70km east of Rolleston.

The largest property in the aggregation, Fairfield Station, which spans 10,522ha at Bauhinia in the Central Highlands, was sold under the hammer for $49m to the Dennis family via Twin Hills Cattle Company.

The adjoining 2299ha Ellis Camp property was also sold at the auction to the Dennis family, who were the underbidders when the farm was initially passed in at $10.7m. The sale price for Ellis Camp remains undisclosed after selling post-auction.

The 100,930ha Ray Scott Pastoral Portfolio has been carved up between nine different cattle grazing families.

At the October auctions Bauhinia graziers Rob and Annie Donoghue paid $26.1m to purchase the 3237ha Kurrajong Park under the hammer, or $8063 a hectare, as bidding rose from an opening of $16m.

The 2423ha Wongaburra was bought by another nearby grazier, the Nobbs family via Yoman Brahmans, at Bauhinia. The Nobbs family paid $12m, or about $4593 a hectare.

The 1911ha Hatari property was sold at the auction, initially passed in at $12m. Hatari was sold post-auction to an undisclosed local cattle grazing family for an undisclosed sum.

Then in November the final two pieces of the aggregation were sold after the 6880ha Carramar was passed in for $22.5m, while the 2496ha Bauhinia Downs was passed in for $13.4m at the October auctions.

The Portfolio’s Fairfield Aggregation was sold between six buyers last year, with the seven-farm aggregation fetching more than $150m in total.

A pair of brothers from a western Queensland cattle grazing family secured one of the properties each, which were sold for undisclosed figures in excess of where they were passed in.

Elders Real Estate general manager, farmland agency and agribusiness investments Mark Barber said the sales showed the strength of the Queensland cattle industry.

“Overall we have had 10 properties bought by nine different buyers, which is a resounding endorsement by the family cattle graziers and shows their confidence in the future of the beef industry,” he said.

The portfolio of properties was formed by trucking magnate Allan Scott, before his son Ray set about expanding their pastoral holdings during the past two decades. In total the Ray Scott Pastoral portfolio carried about 20,000 cattle.

Elders Real Estate Mackay Rural agent Rob Murolo, Chinchilla and Miles agent John Kingston and the late Virgil Kenny were appointed to handled the sale of the portfolio.

Originally published as Aussie families snap up Qld cattle empire for $200m-plus