Wave Hill station: One of Territory’s most famous properties up for sale
ONE of the Northern Territory’s most famous cattle properties, Wave Hill station — the scene of one of Australia’s most historic moments — is up for sale
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ONE of the Northern Territory’s most famous cattle properties Wave Hill station is for sale.
The property is best known as the scene of the Wave Hill Walk-Off, a strike by Indigenous Australian workers for better pay and conditions, which in turn was an important influence on Aboriginal land rights in Australia.
The $100 million Western Grazing company asset is being sold with around 40,000 Brahman cattle.
Western Grazing, which has grown to become one of Australia’s largest beef producing company’s, says the decision to sell Wave Hill follows a strategic review of all the company’s six property operation and it remains committed to the cattle industry, its employees, customers and suppliers and will retain its other five cattle properties in Queensland.
The other properties are all in Queensland: Magowra, Normanton; Allendale in Augathella; Eurella in Roma; Morstone Downs in Camooweal; Oban Station in Mount Isa.
Located about 31 kilometres east of Kalkaringi, 204 kilometres south east of Timber Creek and about 600 kilometres south of Darwin, Wave Hill is the Western Grazing’s largest station stretching more than 1.2 million hectares.
It is a breeding property, using grey brahman, charolais and charbray bulls. Traditionally Wave Hill supplies the live export market.
A Cessna 182T plane is used for bore runs and mustering. Mustering on the ground is done on horseback.
Indicative bids are being sought from 40 potential domestic and foreign investors.
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To comply with Foreign Investment Review Board regulations, an advertising campaign is palnned to start on October 10.
Western Grazing company has had Wave Hill for more than 28 years.
Bentleys Transaction Services in Brisbane is handling the sale of the aggregation, which includes the adjoining Cattle Creek station.
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An investment overview document was sent to prospective buyers in August.
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