NT Cattle Ranch Sells for A$30 Million
AUSTRALIA - A Northern Territory cattle station with more than half a million hectares of land has sold for more than A$30 million.
29 February 2012
1 minute read
Beef Central confirmed that a new player to the rural property market Thames Pastoral Company, an Australian subsidiary of a global investment fund, signed a contract to buy the 5001 square kilometre (500,100 hectare) property from Sterling Buntine’s Baldy Bay Pty Ltd earlier this week.
Tanumbirini was passed in on a vendor’s bid of A$30 million at auction in Brisbane on May 20 last year.
While the purchase price has not been disclosed, sources close to the sale have confirmed that the price is believed to be in excess of last year’s A$30m pass-in price.
The property is understood to have been purchased on a walk-in, walk-out basis, with 30,000 head of mixed Brahman cattle included in the sale.
Thames Pastoral Company is managed in Australia by David Connolly, former chief operating officer with Australian Agricultural Company. Mr Connolly is believed to have negotiated the purchase of Tanumbirini directly with selling agents Ray White Rural.
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