Hui family selling 2.9 million-hectare Kimberley Cattle Portfolio
A Chinese-Australian property billionaire has decided to exit the northern Australian cattle industry, listing a mammoth 2.9 million-hectare portfolio for sale.
Almost three million hectares of West Australian Kimberley cattle country has hit the market following a Chinese-Australian property billionaire’s decision to exit the northern Australian cattle industry.
The 2.9 million-hectare Kimberley Cattle Portfolio has been formally listed for sale with Hong Kong-based Australian citizens the Hui family, and their Archstone Investment Group, offering seven pastoral leases and five subleases.
The mammoth portfolio comprises pastoral leases of about 1.83 million hectares, subleases of 924,325ha combined with an agistment agreement across 153,475ha, operated as a single large-scale portfolio, running about 45,000 to 50,000 breeders.
Industry sources suggest the portfolio as a whole could be worth more than $250 million.
The first portions of the portfolio were purchased in 2017 when the Hui family bought the 356,000ha Yougawalla, 273,000ha Bulka and 214,000ha Margaret River stations from Harold Mitchell.
The sale was worth about $70 million and also included four additional subleased pastoral leases: 161,000ha Louisa Downs, 141,000ha Bohemia Downs, 80,000ha Carranya Station and 182,000ha Lamboo Station.
Shortly after, the group also purchased 395,000ha Moola Bulla and 260,000ha Mt Amhurst, both near Halls Creek, 206,000ha Beefwood Park near Fitzroy Crossing and 178,000ha Shamrock near Broome.
Archstone Investment also paid $120 million for a majority stake in NSW meat processor and exporter Bindaree Beef Group in 2017.
The Hui family, one of Hong Kong’s most powerful families, is led by multi-billionaire Hui Mang Mau.
Kimberley Cattle Portfolio general manager Haydn Sale said key features of the aggregation included the proximity of the stations and an extensive development program completed during the past seven years.
“This business was essentially built around putting together an aggregation of properties that were close enough to work together to create key efficiencies, with potential to develop in a way that would escalate production,” he said.
“There is, however, still scope to further grow efficiencies and water development – and again increase the number of stock that can be run across the aggregation.”
LAWD senior director Danny Thomas is handling the sale alongside directors Simon Wilkinson and Elizabeth Doyle with expressions of interest closing November 9 at noon (AWST).
“This aggregation is special in that you can breed, background and finish, and the owners have done an excellent job in putting together a significant landholding that can be run as a single entity, including irrigated land to finish stock,” Mr Thomas said.
“It is very rare to find a property in the region at this scale that can so easily pivot between live export to the north and the southern markets.”
Water is also an important feature of the aggregation due to frontages to the Margaret River, Mary River, Louisa River and Christmas Creek, in addition to extensive underground water resources.
About 210ha have been developed to centre pivot irrigation with approval for an additional 294ha. There is a 9500ML irrigation licence on Shamrock Station from the Broome Sandstone aquifer.
Receivers move to sell embattled company’s Riverina grain mill
The storage and processing facility of a collapsed oilseed and grain processor in the NSW Riverina has been taken to market.
Tamworth trophy farm split between two buyers
After more than two years on the market, a historic 1870ha farm in NSW’s New England region has been sold for an eight-figure sum. See the details.