61,000ha Queensland stations back in Aussie hands

A Chinese billionaire’s agriculture company has sold a sweeping aggregation of southern Queensland farmland between two cattle farming families.

An 61,000ha aggregation of southern Queensland cattle and cropping farmland is back into Australian hands after it was sold by the company of a Chinese billionaire.

Chinese conglomerate the Hailiang Group, via Hailiang Agriculture Australia, has sold the Hollymount and Mt Driven aggregation, with the substantial holding carved up between two Australian farming families.

Controlled by billionaire Feng Hailiang, one of China’s richest men with a net worth of $2.5bn, the properties, located east of St George, were listed for sale last June.

Offered to the market was the 34,046ha Hollymount aggregation comprising the Hollymount, Iandra, Beltana and West Harran properties, plus the neighbouring 26,960ha Mt Driven aggregation of Westernbrook and Mt Driven.

The sprawling aggregation has now been carved up between two Queensland cattle farming families, with the Hollymount aggregation and Mt Driven aggregations sold separately.

The two aggregations were sold following a 10-year investment term.

The Hollymount property was offered to market with about 11,960ha of improved pastures, 3400ha sown to oats and wheat, 3500ha of previous cultivation which has now returned to buffel predominantly, 11,895ha of grazing with light to moderate timber regrowth and 1250ha of older regrowth timber with the balance of 2041ha remnant vegetation.

Hollymount, one of the properties sold by the Hailiang Group.

Mt Driven was offered to market with 18,760ha of established improved pastures, 1800ha of cleared cultivation and 700ha of cultivation land, with 5700ha of remnant vegetation.

A package of three unsupplemented water allocations Moonie Zoned D totalling 3980ML was also on offer with the aggregation, but are understood to have been sold separately.

Feng Hailiang of the Hailiang Group.

Ray White Rural agent Richard Brosnan handled the sale of the Hollymount and Mt Driven aggregation but did not comment on the transaction due to confidentiality arrangements.

Elsewhere in the state, large-scale Northern Territory beef producers, the Brett Cattle Company, has reportedly acquired the 9858ha Valera Vale in southwest Queensland, 22km southwest of Augathella.

Owned by the Flynn family for 40 years, Valera Vale has sold for more than $22m, with the Brett Cattle Company adding it to their pastoral operations of more than 350,000ha in the Victoria River District of the NT, including Waterloo and Willeroo Stations.

Leichardt Group Roma handled the sale of the Valera Vale property.

Originally published as 61,000ha Queensland stations back in Aussie hands