Seven NT stations for sale by $1 billion Australian land giant, Consolidated Pastoral Company
IT IS looking more and more likely that some of the Territory’s biggest cattle stations — that are part of the $1 billion empire of Australia’s Consolidated Pastoral Company — could be broken up and sold as individual parcels
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IT IS looking more and more likely that some of the Territory’s biggest cattle stations — that are part of the $1 billion empire of Australia’s Company — could be broken up and sold as individual parcels.
CPC’s owner, European private equity firm Terra Firma, has advertised the business for sale “as a whole or in parts”.
The company owns seven Territory stations.
The value of the properties would range from $10m to more than $150m.
It has Agent Meares & Associates fielding interest on individual properties in the Australia’s Consolidated Pastoral Company portfolio.
Industry sources say this selling strategy is the best way to attract more local farmers and rural groups to buy the key Territory properties.
This allows for either single stations that value add to their existing holdings or into more digestible parcels of associated properties.
The largest of the seven Territory stations is the 10,353 square kilometres Newcastle Waters Station, 705km south of Darwin in the west Barkly Tablelands.
Its open plains, flood country and timbered sand hills can carry 65,700 head of cattle.
This includes 20,000 commercial Brahman breeders.
The property is home to Newcastle Waters Brahman stud, which comprises 4000 stud females. Annually the stud produces 1000 quality, acclimatised herd bulls for CPC’s Northern properties.
Other Territory stations in the Consolidated Pastoral Company are Newry; Manbulloo; Ucharonidge; Auvergne Station; Dungowan; and Kirkimbie.
CPC chief executive Troy Setter said over recent years the company has increased productivity through the development of land.
He said this year the company has so far invested more than $4 million on developing watering points and fencing, as well as technology and genetics.
CPC still saw significant opportunity to improve its productivity and increase carrying capacity with further development of the stations.
The selling agents said they “have been overwhelmed with the inquiry for individual properties” and they would now assist in the seeking of interest in a breakup of the stations. CPC has 400,000 cattle spread over its 16 properties that span more than 5.5 million hectares. Most of this is in the Northern Territory, with large holdings also in Queensland and Western Australia.
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There are also two feedlots in Indonesia. Its most recent property purchase came last year when it acquired the 3941ha Emu’s Nest property at Biloela in Queensland for $8.3 million.
Queensland properties are finished on Lake Woods for export to Indonesia via Darwin port. Terra Firma Capital bought the majority stake in the Consolidated Pastoral Company from the Packer family in 2009.
Last year it asked real estate firm Knight Frank and investment bank Goldman Sachs to offer it to institutional buyers.
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