Gina Rinehart sells three Western Australian properties for $100 million

Three properties have sold from a seven-property $300 million portfolio owned by Hancock Agriculture and S. Kidman and Co.

Gina Rinehart has sold three Western Australian properties for close to $100 million. Picture: Supplied

Mining magnate and cattle queen Gina Rinehart has offloaded three Western Australian cattle stations for close to $100 million.

The properties include fully stocked cattle station Nerrima, 130km south east of Derby, and the Ruby Plains and Sturt Creek pastoral leases, which operate as one station 57km south of Halls Creek.

The properties were listed for sale in March by Ms Rinehart’s Hancock Agriculture and S. Kidman and Co, of which she is a majority owner.

Four Northern Territory properties in the portfolio are still listed for sale. They include 147,510ha Aroona Station, the 171,000ha Willeroo Station, the 55,400ha Riveren and Inverway Stations, and the 3443ha Phoenix Park feedlot.

The 200,000ha Nerrima Station has reportedly sold for more than $30 million to pastoralist Johnathan Emanuel, in partnership with the McLarty family of Pinjarra.

The 800,000ha Ruby Plains and Sturt Creek leases, valued at over $60 million, have reportedly sold to Northern Territory businessman and grazier Viv Oldfield.

The sales come as beef prices sit at record highs and Australia is forecast to bring in a bumper $73 billion grain harvest.

Elders agent Tom Russo said at the time of the listing the sale represented a rare opportunity to acquire a strategically constructed portfolio of assets at scale during a period of unprecedented growth in demand for Australian protein.

“The geographical locations of the individual stations, coupled with the completion of extensive and high-quality capital improvements program and a refinement of the breeder herd, allows for the operation of an efficient beef production enterprise, which enjoys economies of scale and operation flexibility,” Mr Russo said.

Hancock Agriculture and Mr Russo were contacted for comment about the sale but both declined to comment.