Chinese billionaire puts stations up for sale
Two major Territory cattle stations have been put on the market.
Northern Territory
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A CHINESE billionaire is selling his Northern Territory cattle stations, four years after he bought them for $47 million.
Wollogorang and Wentworth cattle stations are owned by tycoon Xingfa Ma who bought the properties in 2015.
The combined 705,198ha cattle stations sit along the Gulf of Carpentaria, straddling the Territory and Queensland.
The sale is being managed by Ray White Rural Queensland, which revealed in its listing about $7 million worth of infrastructure upgrades had been made by the current owner.
“Additionally, the current owners have made inroads in the field of genetics with reference to the station’s stock of Brahman cattle,” the listing read.
The stations are being sold with 30,000 head of cattle however the land can reportedly hold more.
NT Cattlemen’s Association chief executive Ashley Manicaros said the cattle stations presented immense opportunity.
“What i shows is that the interest in NT pastoral properties and cattle station remains strong and that we need it to continue to remain strong from a constant investment point of view and from an industry development point of view,” he said.
“The NT has always had mixture of local on foreign investment, and different parts of the world and stages have been strong investors. In recent years we have seen a lot of investors from SEA.
“We would hope the investment that whoever buys the property looks at a longer term investment.
“One of the things we want to see in NT pastoral estate is we want to see that invest cycle extend beyond 10 years, in other words people hold on for more than ten years because then they will invest infrastructure and improvements.”
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It’s been an active year for pastoral properties in the Territory.
In June Manbulloo Station near Katherine was sold for a reportedl $23.4 million to a mix of local and international investors, while nearby Scott Creek Station was sold to an Argentinian agriculture company for $12 million.
Expressions of interest for Wollogorang and Wentworth cattle stations close on September 25.
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