Tim Roberts-Thomson sells Juanbung and Boyong stations

MELBOURNE businessman Tim Roberts-Thomson has sold two NSW southern Riverina stations in an off-market deal reportedly worth $60 million.

Tim Roberts-Thomson has sold Southern Riverina properties Juanbung and Boyong.

MELBOURNE businessman Tim Roberts-Thomson has sold two NSW Southern Riverina stations in an off-market deal reportedly worth $60 million.

Juanbung and Boyong stations span 33,000ha of grazing land, which has been used for backgrounding up to 10,000 cattle a year, and has 55km frontage to the Murrumbidgee River.

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It is also home to one of the largest privately owned River Red Gum forests in the world, and accommodates firewood business Juanbung Mill.

Juanbung and Boyong stations also benefit from a 13,506ML supplementary water entitlement and incorporate the floodplain delta of the Lachlan River, referred to as Great Cumbung Swamp.

The properties were reportedly bought by a local group.

CBRE’s Danny Thomas and Aither’s Chris Olszak sold the properties via a walk-in-walk-out basis on behalf of Mr Roberts-Thompson’s TRT Pastoral Group.

Mr Roberts-Thomson in a statement said he was delighted the properties would continue to be operated as they have been for the foreseeable future.

“We believe the assets will be well stewarded by the incoming owners and that they will retain our loyal staff and enhance the business operations,” he said.

Mr Roberts-Thompson said the sale would allow TRT Pastoral to focus on building its King Island beef business, as well as its mainland operations.

“It is an exciting time for our business as we continue to look to expand our beef breeding footprint,” he said.

TRT Pastoral Group operates 15,000 head with more than 7000 Angus breeders as part of its King Island Aggregation, which it purchased from Sustainable Agriculture Fund for $45 million in 2017.

It also owns an aggregation of five properties in North East Victoria, Howquadale Station, totalling 2024ha, which is home to an elite 1100 European Union-accredited breeding herd.

Mr Thomas said multiple parties showed interest in Juanbung and Boyong stations.

“The sale of Juanbung and Boyong stations is evidence of the strong investment appetite for grazing land with significant scale in the Southern Riverina,” he said.

The property also drew interest from conservation groups and quasi-government groups, Mr Olszak said.

“We expect to see more commercial transactions being undertaken by this segment of the market in the future as they look to make long term returns and conserve targeted high value ecological sites,” he said.