$20m offers tipped for North Queensland cattle, carbon station

Pastoral and carbon industry players are expected to show interest in a 70,500ha station set to produce 230,000 Australian carbon credits.

Direct carbon emitters are expected to show interest in a North Queensland cattle station, where it could receive offers worth about $20 million.

Owned by Upscale Funds Management as part of their Upscale Farmland Funds, the 70,500ha Coralie Station, located 60km west of Croydon in the Savannah Gulf, has been listed for sale along with an established carbon project.

Previously owned by father and son, John and Geoff Seccombe, Coralie Station was purchased by the Carbon Farmland Fund in 2019, with 10,000-15,000ha currently registered for a carbon project.

Started in August 2020, the fully stratified Human Induced Regeneration (HIR) carbon project is focused on supporting the regeneration of native vegetation in partnership with the Tagalaka People. The project has been audited by the Clean Energy Regulator.

The project is set to generate more than 230,000 Australian Carbon Credit Units (ACCUs) during its 25-year term, with the first units due for imminent issue, to the landowner for their ultimate use.

Upscale Funds Management are selling the 70,500ha Coralie Station, 60km west of Croydon in the North Queensland Savannah Gulf.

Coralie Station is also capable of running 6000 Adult Equivalents (AE).

JLL Agribusiness senior directors Chris Holgar and Geoff Warriner are handling the sale alongside director Clayton Smith.

“The benefit of HIR carbon projects such as this within the Gulf Region is their complementary purpose with pastoralism,” Mr Holgar said.

“They allow for the preservation of meaningful carrying capacity via rotational grazing across the holding while preserving its underlying productivity.”

“With its unique opportunity to acquire an efficient, fully developed breeding enterprise complemented by a fully registered and unconditional carbon project, Coralie represents a combination seldom seen in the market,” Mr Warriner said.

“We expect to draw strong interest from both pastoral and carbon industry participants.”

Mr Warriner also said the holding was ideally suited to a stand-alone breeder enterprise or as part of a larger supply chain providing cattle to both domestic markets and, or, for export through the Port of Townsville.