Kerry Stokes and Peter Murray buy Kangaroo Island farm, Woodlana
Kerry Stokes, the 16th richest person in Australia, and Peter Murray have purchased Woodlana Station, one of Kangaroo Island’s finest large scale farming properties for $4.7 million.
Their operations on Kangaroo Island and the Fleurieu Peninsula now exceed 10,000ha.
Colliers International’s Jesse Manuel, Tim Altschwager and Nick Dean secured the sale of the 2,823 ha landholding located at Cassini on Kangaroo Island’s central north coast.
Carrying in excess of 500 Angus beef breeders plus progeny and bulls and around 6,000 Merino and Merino cross ewes plus lambs and weaners, agent Jesse Manuel said the property attracted interest from a diverse range of buyers including Mid North and Eyre Peninsula farmers seeking higher rainfall country, as well as some of the larger beef and wool producers on Kangaroo Island.
Also in the running were city-based investors and Asian investors, predominantly Chinese who are attracted to the Kangaroo Island brand.
“Chinese investors in particular have made several investments on the island in recent times in the food and beverage, tourism and farming sectors. For clean food production, the remote location has significant benefits from a branding perspective,” Mr Manuel said.
There was demand from some of South Australia’s substantial graziers and pastoralists given values can be as much as 30% lower than values in similar rainfall regions on the mainland, such as Limestone Coast.
Woodlana is located 25km west of Kingscote, with main access to the property from Springs Road, which runs off North Coast Road. It last traded at around $6 million in 2009.
The business duo also jointly own a number of other properties including 4050ha on Kangaroo Island stocked with 2500 Riverleas-blood Angus cattle.
They own Balquhidder Station, at Parawa on the Fleurieu Peninsula, which was bought in 2007 in a $20 million walk in-walk out deal.
The 3064-hectare property is run by Kerry Stokes' long-time business partner Peter Murray. Balquhidder sources bulls from Shorthorn Stud Weebollabolla, near Moree in New South Wales, where the Munro family has been breeding Shorthorns since the 1850s.
Peter Murray has been a client for more than five decades.
Buyers for Balquhidder cattle have come from SA, Victoria and Bowral in the NSW Southern Highlands.
