Gina Rinehart's Wagyu herd expansion with New England buy
Gina Rinehart’s Hancock Prospecting has purchased the 3234 ha New England grazing property, Glendon Park.
Located about 40 kilometres north-east of Armidale, Glendon Park will be used to grow the 2GR Wagyu herd.
The Wagyu bred on Glendon Park will be finished and processed in Australia, before being delivered into local and overseas markets.
Hancock Prospecting’s current Wagyu herd is about 20,000 head, the mining tycoon's statement said.
Mrs Rinehart said Glendon Park was a quality property well located near her existing operations and would support further growth.
“I am pleased to continue to invest in rural operations that will continue to grow our 2GR Wagyu business to meet the growing demand for our very high quality and delicious 2GR Wagyu beef,” she said.
It was listed by Mike Clifton of Colliers International by former global investment banker Renatto Barbieri and partner, Armidale-born Charlotte Wright, known as Charlie, who sold the property to pursue other agricultural projects overseas.
Their aggregation started with the purchase of Lambs Valley in 2008, then Duffries, Top School and lastly the former piggery Glendon Park.
Of the total area, about 85 per cent is usable grazing country, lightly timbered with shade and shelter trees with 112 paddocks.
