Gina Rinehart snaps up three more Western District farms

Australia’s richest person has continued her expansion into Victoria, buying another 460ha of farmland. See all the details.

Hancock Prospecting chair Gina Rinehart.

The nation’s richest person has continued her expansion into Victoria’s renowned Western District, acquiring three farms for almost $10m in total.

Valley River Holdings Pty Ltd, a wholly-owned subsidiary of Gina Rinehart’s Hancock Prospecting, has acquired a trio of farms at Kennedys Creek spanning a combined 467 hectares for about $9.8m, through an off-market deal.

Property records show Valley River Holdings Pty Ltd paid $4,240,650 for a 201.83ha mixed farming and grazing holding with infrastructure, $3,398,860 for a 161.82ha livestock and dairy property, while also purchasing a further 103.5ha livestock grazing holding for $2,173,909.

Each of the three properties are located between the Simpson and Kennedys Creek townships, within a 15km stretch along Lavers Hill-Cobden Rd.

The Hancock Prospecting subsidiary paid the equivalent of about $21,000 a hectare across each of the three properties.

Valley River Holdings Pty Ltd, a wholly-owned subsidiary of Gina Rinehart’s Hancock Prospecting has purchased 467ha of farmland near Simpson in Victoria’s Western District.

Deals for each of the farms were struck earlier this year, before settling in early April.

The three transactions take Rinehart’s total landholdings in the Victorian Western District to four properties and almost 1000ha, following the acquisition of the Tonissen family’s 511ha Branxholme property, Chrome Park, earlier this year for more than $8.6m.

The three Kennedys Creek properties were sold by first generation South West Victorian beef farmers Andrew Kelly and Penelope McBain, via several holding companies.

Hancock Agriculture and Hancock Prospecting representatives were contacted regarding the purchases, but declined to comment.

Backed by her $30bn fortune, Ms Rinehart’s agriculture portfolio has significantly changed in recent years including the sale of 10 iconic S.Kidman and Co stations, spilt among several northern Australian pastoral families.

As part of the restructure, Rinehart’s Hancock Agriculture purchased the 10,029ha Moolan Downs Station in Queensland’s Western Downs and the 8371ha Ottley Station in northern NSW from Packhorse Pastoral for about $80 million.

Last year an off-market deal was also struck for a 1980ha northern NSW dairy, which was to be converted to Wagyu production, complemented by other backgrounding properties within the Hancock Agriculture portfolio.