Gina Tags $100m for the Ranch

Gina Tags $100m for the Ranch

In March 2021, Australia’s biggest property owner Ms Gina Rinehart put up almost two million hectares of her holdings in a breath-taking move to dispose of many of her stations across northern Australia.

TWO extensive Kimberly region cattle properties owned by Gina Rinehart’s Kidman and Co and Hancock Pastoral have sold for a combined figure of around $100 million.

These first sales are believed to have been made to Australian interests, which will relieve fears the giant land offering would be snapped up in one swoop by overseas buyers.

The three properties – Nerrima Station and the adjoining pastoral leases of Ruby Plains and Sturt Creek – were part of a $300 million offering of seven stations, one feedlot and almost 110,000 head of cattle put up for sale in March by Ms Rinehart’s Hancock Agriculture and S. Kidman and Co, in which she owns a majority stake.

Ruby Plains is Mr Oldfield’s first foray into Western Australia. Two years ago, he added the 324,000ha Maryvale Station, 107km south of Alice Springs, to his extensive landholdings in Central Australia. The $15m sale included 10,000 head of cattle. Maryvale is located adjacent to Mr Oldfield’s 1641sq km Deep Well Station, 60km south-east of Alice Springs.

In addition to Maryvale and Deep Well Stations, Mr Oldfield jointly owns the adjoining Lilla Creek Station on the SA/NT border, 10,850sq km Andado Station (situated on the western edge of the Simpson Desert), 5936sq km Horseshoe Bend Station (160km from Alice Springs), and 6600sq km New Crown Station (460km south of Alice Springs).

The second Kimberley station owned by Ms Rinehart’s Hancock Agriculture has sold to Johnathan Emanuel for around $30 million. The 203,142ha Nerrima Station, fronting the Fitzroy River in the West Kimberley, was also offered on a walk-in walk-out basis including more than 15,000 head of cattle.

The Emanuel family, who founded and later sold the WA livestock exporter, Emanuel Exports, is not new to the Kimberley region. In the 1880s, the Durack and the Emanuel families together claimed over one million acres along the Fitzroy River in the West Kimberley and a similar amount along the Ord River in the East Kimberley.

In the early 1900s, the family-owned Fitzroy Crossing’s Gogo Station and Noonkanbah Station were located further to the southeast.

At the time they were listed, selling agents Elders said the offering was a “refinement of the overall portfolio following a period of value creation” with the proceeds of sales to be reinvested in growing Hancock’s remaining portfolio in WA, the Northern Territory, South Australia, Queensland and NSW.

The remaining properties for sale include the prized adjoining offering of Riveren and Inverway Stations, which cover 555,400ha in the NT’s Victoria River Downs district. The stations have a carrying capacity of over 42,000 cattle. Ms Rinehart is also selling the 3400ha Phoenix Park export feedlot near Katherine and the adjacent NT stations of Aroona (147,500ha) and Willeroo (171,000ha).

With the wet season approaching, the remaining Hancock Agriculture and S. Kidman & Co assets still listed for sale could take some time to move.

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