Wealthcheck list Maryfield and Limbunya Stations for sale

The 668,000ha Maryfield and Limbunya Stations are for sale again, this time boasting carbon projects forecast to generate more than 10 million ACCUs.

A pair of Northern Territory cattle stations are back on the market after changing hands less

than 18 months ago in a nine-figure deal.

Sydney-based Wealthcheck funds manager Sam Mitchell has listed the 521,883ha

Limbunya Station and the 147,300ha Maryfield Station for sale, after respective carbon

projects attached to the properties were approved last year.

In October 2022, Colin Ross’ North Star Pastoral sold the farmland to Wealthcheck, while

Brisbane-based AAM Investments bought 50,000 head of cattle, operating the farms via a

lease arrangement with Wealthcheck.

Following the $175 million walk-in walk-out deal, two carbon projects have been approved

for the aggregation, which are expected to generate a combined 10.4 million Australian

Carbon Credit Units (ACCUs) during a 25-year crediting period, with a 100-year permanency

period.

On February 13, the latest closing ACCU generic spot price was $35.50 per unit.

The Maryfield Station is 147,300ha, owned by Wealthcheck since October 2022.

Industry sources have suggested Limbunya Station could receive offers worth more than

$60 million, plus the value of the carbon credits, while Maryfield could attract offers worth

greater than $40 million, plus the value of the carbon credits.

LAWD senior director Danny Thomas and directors Olivia Thompson and Erica Semmens

are handling the sale of the stations, which are expected to attract the interest of large

companies seeking to offset their carbon emissions, corporate investors and high net worth

individuals. 

Maryfield (pictured) could attract offers worth greater than $40 million, plus the value of the carbon credits.

“Given the stations are currently leased to an A-grade agricultural tenant, pursuant to a long-

term lease agreement, there is no exposure for prospective purchasers to source a grazing

solution,” he said.

“They are able to purely benefit from being driven principally by access to the significant number of ACCUs available.”

Located in the NT’s Victoria River region near Buchanan, Limbunya Station has a carrying

capacity of 40,000 adult equivalents (AE), or 1 AE per 13.05ha. 

The Victoria River Carbon Project has been established at the station, which is designed to

store carbon by promoting the regeneration of Australian native tree species, forecast to generate 5.8 million ACCUs.

The Mataranka Springs Carbon Project has been approved at Maryfield, while the Victoria River Carbon Project has been approved at Limbunya Station.

Meanwhile, Maryfield Station, near Birdum, has a carrying capacity of more than 15,000 AE,

or 1 AE per 9.82ha with 4900ha approved for cropping. About 1000ha are currently used for

fodder production and access to a 3392ML water extraction licence provides significant opportunity to enhance fodder production via irrigation development.

At Maryfield the Mataranka Springs Carbon Project has been approved, which also aims to

store carbon by promoting the regeneration of Australian native tree species, forecast to

generate 4.6 million ACCUs.

The stations are for sale as a whole or as separate assets, via expressions of interest

closing April 11.