Springvale Station: Iconic cattle station returns to Australian ownership

Twiggy Forrest’s footprint has further expanded in Australian agriculture with the purchase of an iconic Kimberley cattle station.

An iconic Western Australian cattle station has been snapped up by Harvest Road, a Tattarang-owned company.

Andrew Forrest’s presence in Australian agriculture has expanded once more, with the announcement Harvest Road will acquire a historic Kimberley station.

It comes just days after the magnate increased his shares in Bega Cheese.

Harvest Road – a part of Dr ‘Twiggy’ Forrest’s private investment group Tattarang – has its eyes set on Springvale Station, in a deal which would see the property return to Australian ownership.

The Springvale Aggregation, a total of four pastoral leases across more than 604,000ha of land in Western Australia, is also included in the deal.

Since 2019, Springvale has been owned by Hong Kong-based investment capital company ADM Capital, with Yeeda Pastoral Company the custodian of the aggregation for the past 20 years.

Andrew ‘Twiggy’ Forrest has substantially increased the size of his financial footprint in Australia’s agricultural industry this week.

Yeeda Pastoral Company chair Mervyn Key said he was “very happy” to be handing the reins to Harvest Road “to bring the station back to its former position as an iconic breeding property” for the Kimberley pastoral industry.

Springvale Station, about 70km north of Halls Creek in the East Kimberley region, is the home to an original homestead built by iconic cattleman Tom Quilty.

If approved, the acquisition will include the in the purchase licences, permits, and basic infrastructure to operate a ‘glamping’ tourism business.

Harvest Road chief operating officer pastoral, backgrounding, and feeding Ben Dwyer said the purchase of the aggregation would be a long-term investment in the future of Western Australia’s beef industry.

“We will focus on the sustainability of the property by destocking appropriately to leave a well-selected breeding herd and to build a strong genetic base for our supply chain, as well as allow the country a well-deserved rest,” Mr Dwyer said.

Tattarang’s footprint in Australian agriculture has grown substantially in the past 12 months, with the purchase of Balfour Downs pastoral station – spanning 634,000ha in Western Australia – last month, along with the purchase of 7975ha of farmland in New Norcia, north of Perth, in December last year.

Dr Forrest also increased his stake in Bega Cheese this week, less than three months after securing a sizeable portion of the processor.

In August, Tattarang increased its “substantial” shareholding in Huon Aquaculture Group, after JBS’s announced plans to acquire one of Australia’s largest salmon producers, Huon Aquaculture, for $549.87m.

The planned Springvale transaction is still subject to approval by the Western Australian Minister Lands, along with other required approvals.