Foreign owners to sell historic WA station, cropping portfolio

Some renowned WA agricultural assets have been listed for sale separately, including a historic 473,000ha station and 5500ha cropping portfolio.

A historic Kimberley cattle station and an expansive mixed farming aggregation in southern WA have hit the market, listed for sale by their respective foreign owners.

Offers of about $50m are expected for the WALT portfolio, a 5595ha aggregation of five cropping and livestock properties located about 65km northeast of Albany in the state’s Great Southern region.

European-owned and Melbourne-based First Australian Farmland aggregated the WALT portfolio across the past decade, spanning two operational hubs about 12km apart.

The portfolio comprises the 1035ha Range Montana and 1017ha Gidget properties near South Stirling, as well as the 1564ha Goodhope, 999ha Wimbush and 978ha Tagliaferri properties near Green Range.

Across the aggregation about 3937ha are considered arable with this year’s cropping program consisting of 1162ha of canola, 1035ha of barley and 575ha of wheat.

On the balance First Australian Farmland has about 9000 sheep. Elders Real Estate selling agents Simon Cheetham and Simon Thomas are handling the sale with expressions of interest closing May 28.

First Australian Farmland are selling their WALT portfolio in WA’s Great Southern region.

Meanwhile, in the far northwest of the state, the embattled Yeeda Pastoral Company portfolio of assets, including the historic 473,608ha Yeeda and Mt Jowlaenga Stations, have been listed for sale.

Predominantly owned by Hong Kong-based equity fund Asia Debt Management Capital, Yeeda Pastoral Company and its subsidiary, Kimberley Meat Co, were placed into voluntary administration in March following several years of turmoil.

Elders Real Estate WA Rural & Metro agent Greg Smith has been appointed to handle the sale of the portfolio which includes; the Yeeda and Mt Jowlaenga Stations (collectively the Yeeda Aggregation), Kimberly Meat Company Abattoir, Kimberley Properties’ eight residential properties in Broome and Derby as well as associated plant and equipment and conditionally registered Human Induced Regeneration (HIR) carbon project.

No price guide has been offered.