Gina Rinehart’s Hancock Agriculture sells two NT stations for more than $60m

More than 300,000 hectares of Gina Rinehart’s Territory cattle country empire has been sold in deals reportedly worth in excess of $60m. FIND OUT WHO BOUGHT THEM.

MORE than 300,000ha of Gina Rinehart’s Northern Territory cattle country empire has been sold in deals reportedly worth in excess of $60m.

The Brett family will pay $40m for the 171,000ha Willeroo Station, north of Katherine, and the adjacent Aroona Station has sold to the DiGiorgio family for $22.7m, the ABC has reported.

Through her company Hancock Agriculture, Ms Rinehart put a hefty chunk of her cattle portfolio on the market in March this year.

Seven properties covering more than two million hectares landed on the market following the acquisition of several cattle and agricultural properties by Ms Rinehart over recent years.

Gina Rinehart has sold two cattle station worth a reported $60m. Picture: Supplied.

The Willeroo and Aroona stations were purchased by Hancock in 2017 for more than $30m and $20m, respectively.

Speaking to the ABC, Frank DiGiorgio said the purchase of the 147,500ha Aroona Station was part of a diversification strategy for the family.

“The property looked, on the face of it, a lovely property to have a look at, both in its relation to position, proximity to markets, and the fact that there is an abundance of water — secure water all year-round,” he said.

“It was a pretty compelling offering.

“There are probably other opportunities at Aroona to develop portions of the property to make it more profitable for its beef operation, not just horticulture or cotton or whatever might be on the horizon in that region.”

Originally published as Gina Rinehart’s Hancock Agriculture sells two NT stations for more than $60m