Continued strong demand for Kimberley cattle country: HTW

A number of Northern Territory stations remain under sale negotiation according to Herron Todd White following a number of sales mid May.

HTW said in the Kimberley the Yougawalla Pastoral Company properties including Bulka (2,745 square kilometres), Margaret River (1,771 square kilometres ) and Yougawalla (3,395 square kilometres) have reportedly contracted for sale to Chinese interests.

"The properties had been on the market since around late 2015 on the basis of either an outright sale or for a new partner to buy in and replace some existing stakeholders," HTW said.

"The sale in mid May (reportedly still to be FIRB approved) was reportedly an outright sale of the three properties for around $70 million WIWO with an unconfirmed number of cattle (however reportedly over 40,000 head).

"Yougawalla was originally acquired back in April 2008 for $3 million WIWO (or around $1.94 million assessed bare), then Baulka in March 2011 for $9 million WIWO ($5.15 million assessed bare) and lastly Margaret River July 2013 for $4.3 million WIWO ($2.2 million assessed bare).

"The properties were owned by a partnership (which included media identity Harold Mitchell) that undertook signi cant pastoral infrastructure development to lift carrying capacity.

"Yougawalla is principally red sand plain desert country, Bulka is predominantly red-yellow sand plains, extensive dune elds and a small proportion of alluvial plains, while Margaret River comprises cracking clays on the oodplains (only around 9 percent of total area), red loamy and red sandy/ gravelly soils to more inferior skeletal soils.

"If the deal is finally consummated at the reported sale price, further analysis will be required to reveal the true dollar per adult equivalent. However at this stage it looks like reflecting continued strong demand for cattle country in the Kimberley, particularly from Chinese interests who also acquired the 10,373 SAWA aggregation for $100 million (WIWO) around ten months ago. "

Bidgemia Station in Gascoyne Junction, WA (above) is currently on the market. It has 15 sets of established yards, the main with 2,000 head capacity including feedlot as well as extensive double frontage to the Lyons River (68 km) & Gascoyne Rivers (125 km).