Packhorse Pastoral: Moolan Downs Aggregation snapped up

Thousands of hectares in Queensland have been added to Packhorse Pastoral’s enterprise, valued at more than $100 million.

Investment company Packhorse Pastoral has expanded its sprawling enterprise with the acquisition of more than 10,000ha of pastoral land this week.

The company bought 10,029ha of land at Moolan Downs Aggregation, about 200km south of Roma in Queensland, worth more than $100 million.

The purchase adds scale to the company’s existing 80,000ha portfolio across NSW and Queensland.

Moolan Downs, Queensland, the latest acquisition by investment company Packhorse Pastoral Company. Picture: Supplied.

Packhorse Pastoral managing director Geoff Murrell said the property was purchased off-market.

“We’ve purchased a magnificent turnkey operation at great value with solid infrastructure and 60 existing paddocks allowing for rotational grazing,” Mr Murrell said.

Geoff Murrell, chief ringer Packhorse Pastoral Company, said the company’s latest purchase will work towards achieving the company’s goal of two million hectares in 10 years. Picture: Supplied.

“We’re currently running 5000 backgrounding cattle for an offtake partner, with a target to increase carrying capacity to 8000 by 2027.”

Mr Murrell said the company’s unique ‘grass motel’ style approach to broadscale agriculture prioritised both land management and animal productivity.

“It’s a symbiotic relationship,” Mr Murrell said, “.. we utilise the cattle we host to mow, fertilise and produce a seed bed to help embed legumes and other deep-rooted plantings in the earth to increase the microbiome, all while growing higher yielding protein to help support and secure global food supply.”

The investment-based pastoral company also opened its next round of investment offers, with a target to raise capital of up to $62 million, which the company says is to fund the purchase of two properties in NSW.

Packhorse has set an ambitious goal to acquire two million hectares of land in the next 10 years.