Gina Rinehart

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Australia's largest landholder Gina Rinehart has reported a farming profit in the year following her acquisition of the S Kidman &amp; Co empire.
The company, called Australian Outback Beef, owns more than 8 million hectares of cattle grazing properties it purchased for $386.5 million by Australia's wealthiest woman Gina Rinehart and her Chinese business partner Cred Pastoral.
According to reports filed with the corporate regulator the company made a $6.2 million net profit in its first year of operation.
It paid $7.5 million in taxes, according to Fairfax Media.
The financial report also records assets at $418 million in assets with only $29 million in liabilities
Hancock Prospecting owns 67 per cent of the former S Kidman and Co with partner Shanghai CRED having the remaining holding.
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Gina Rinehart reports S Kidman & Co profit

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Gina Rinehart's desire to secure Australia's largest landholder, cattle company S.Kidman &amp; Co with a Chinese investor, has prompted her to bid higher after they were being challenged by an all-Australian syndicate.
The $386.5 million offer topped the $386 million offer from wealthiest graziers including BRW Richlisters Tom and Pat Brinkworth and Sterling Buntine.
The Australian reports Rinehart is closer to securing the S. Kidman &amp; Co pastoral empire with the company’s board unanimously backing an increased offer.
The Rinehart bid comes via Australian Outback Beef (AOB), a consortium two thirds controlled by mining magnate Gina Rinehart, and a Chinese business partner, Shanghai CRED.
Their bid does not include Anna Creek, a property in South Australia that raised national security concerns when Chinese interests tried to buy the Kidman properties last year.
BBHO, comprising four of the nation's wealthiest outback cattle and transport families are offering $386 million, for all the properties including Anna Creek.
The local bid would avoid scrutiny by Australia's Foreign Investment Review Board given BBHO's directors, Viv Oldfield, Tom Brinkworth, Sterling Buntine and Malcolm Harris, represent some of the most prominent names in the outback.
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Gina Rinehart raises offer to outbid her rivals for S. Kidman & Co farms

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The West Australian mining magnate Gina Rinehart and Chinese Real Estate company Shanghai Cred have entered into an agreement to make a takeover offer for the nation’s largest private land hold S Kidman and Co.
The joint venture company Australian Outback Beef Pty Ltd (AOB) will be owned 67 percent by Mrs Rinehart’s company Hancock Prospecting and 33 percent by Shanghai Cred.
Hancock Prospecting chairwoman Gina Rinehart told News Ltd she was pleased to have the opportunity to invest further in Australia’s cattle holdings through the acquisition of the Kidman stations and was looking forward to working with the Kidman management and staff to grow and develop the operations.
Pastoralist Sir Sidney Kidman built up one of the biggest private landholdings in Australia.
“Kidman is an iconic cattle business established more than a century ago by Sir Sidney Kidman. It is an operation founded on hard work and perseverance by an outstanding Australian, and is an important part of Australia’s pioneering and entrepreneurial history,” Mrs Rinehart said.
Austalia’s biggest meat producers, S Kidman &amp; Co Ltd, has pastoral leases covering a 101,000sqkm across four states and territories.
The iconic Kidman landholding went on sale almost 18 months ago.
The sale is conditional of completion of the divestment of the Anna Creek station and the Peake by Kidman to other Australian grazing interests.
The proceeds from the sale of Anna Creek and the Peake will be paid to Kidman and retained in the company for the benefit of AOB, effectively reducing the “net price” being paid by AOB for the remaining Kidman portfolio to approximately $365 million.
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Gina Rinehart teams up with Chinese to bid for S Kidman & Co

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The controversial bidding process run by EY for the S Kidman &amp; Co farms has seen some of Australia's wealthiest graziers denied access to the properties in order to make a bid.
BRW Richlisters Tom and Pat Brinkworth and Sterling Buntine are challenging Gina Rinehart's bid to secure Australia's largest land holder, according to The Australian Financial Review.
The all-Australian syndicate, which also includes the Harris and Oldfield families, has reportedly been denied access to the properties in order to make a bid.
Mrs Rinehart's Hancock Prospecting and Shanghai CRED has an well-advanced bid worth more than $365 million on the table.
The paper reports there is a $3.8 million break fee between S.Kidman &amp; Co and the Hancock joint venture if either decide to walk away.
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Gina Rinehart's rivals for S. Kidman & Co farms

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The sale of Australian agricultural land, including cattle stations, hobby and commercial farms hit $16.79 billion in the year to August.
The Federal Treasurer Scott Morrison has now approved another big sale - the Kidman cattle empire for around $380 million to the syndicate of mining magnate Gina Rinehart and a Chinese company.
The sales process too around 20 months.
"I have decided that the acquisition of Kidman as proposed would not be contrary to the national interest and will be permitted to proceed," his statement advised.
It is the third attempt by Chinese interests to buy into Australia's largest private landholder with Mrs Rinehart's Hancock Prospecting to own 67 per cent of S Kidman and Co with partner Shanghai CRED .
Their joint-venture company Australian Outback Beef (AOB) acquistion will not include the defence-sensitive Anna Creek Station or The Peake which will be sold to a local South Australian grazier family.
The 117-year-old family company, founded by Sir Sidney Kidman, has pastoral leases covering 101,000 square kilometres across Western Australia, the Northern Territory, Queensland and South Australia.
In a video released by Hancock Prospecting, Mrs Rinehart said it was an "exciting day" as she had long wanted to diversify.
"Right now all our eggs are in the iron ore basket," <a href="https://www.youtube.com/watch?v=IfXPaWdDLOk" target="_blank">she said</a>.
"Now to become the third largest producer of cattle in Australia I think it's just great.
"I see an ongoing need for meat particularly in the Asina region and most of our cattle from Australia, three quarters, we export.
"And of course the value of the land over decades is going to keep increasing and increasing."
Hancock Prospecting CEO Gary Korte said the herd size will be increased from the current 150,000 head to its full carrying capacity of 185,000.
Agricultural property sales in NSW totalled $8.2 billion over the period, an increase of 3.8 per cent according to the Landmark Harcourts' quarterly Benchmark Report with some 12,519 agricultural property sales.
One of the biggest deals included the Deltroit Station in the Gundagai district of NSW when MH Premium Farms, the Australian agricultural operation of global fund manager Sir Michael Hintze, bought the 2573 hectare holding.
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In Victoria the total value of agricultural property sales came in at $3.7 billion over the year, down 13.3 per cent on the total value of sales achieved in the 12 months to August last year.
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<div>In Queensland, agricultural property sales totalled $1.7 billion over the year with lower volumes, though the value of sales was 3 per cent higher than the prior year.</div>
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Queensland has has spring sales including cattleman Peter Hughes buying Tumbar station south of Jericho in central Queensland for about $57 million. In SA, the total value of agricultural sales was $964 million over the 12 months to August 2016, 14.5 per cent higher than the 12 months to August. 
In WA, the total value of the agricultural sales was $1.7 billion, 2.9 per cent  above the previous year.
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In Tasmania, agricultural property sales totalled $526 million over the year, 9.5 per cent lower than the previous year.
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Gina Rinehart secures Kidman cattle empire for $380 million

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Australia’s richest woman Gina Rinehart is offloading her redundant Brisbane riverfront property.
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The <a href="/expert-insights/buying/61743-9-million-toorak-sale-tops-weekend-auction-results" target="_blank">61 Sutton St, Chelmer</a><a href="/expert-insights/buying/61743-9-million-toorak-sale-tops-weekend-auction-results" target="_blank"> home</a> is on the market with Place Graceville agent Peter May for auction on November 19.
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The advertisement for the two level luxury four-bedroom home states “this landmark residence presents an envious lifestyle in one of Brisbane’s most prestigious enclaves, just 7km to the CBD”.
“Architecturally designed to maximise the location, floor to ceiling glass permits an abundance of natural light into the spacious open layout across two levels.
"This design feature affords enjoyment of the stunning river views from nearly every angle of the home.”
Ms <a href="/expert-insights/buying/36928-gina-rinehart-s-hancock-prospecting-buys-brisbane-river-residential-holding" target="_blank">Rinehart’s Wingfield Avenue Pty Ltd</a> bought the property in March 2010 for $3.175 million. It’s previously been rented out for $2000 per week in 2012.
Rinehart spent a record setting Brisbane price elsewhere on the river.
 
 
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Gina Rinehart lists Brisbane River investment property

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Australia’s richest woman Gina Rinehart didn't get to offload her redundant Brisbane riverfront property.
The 61 Sutton St, Chelmer home had been listed with Place Graceville agent Peter May for weekend auction.
The advertisement for the two level luxury four-bedroom home now states it is for sale, with no disclosed asking price.
Set 7km to the CBD, the architecturally designed home has floor to ceiling glass.
Ms <a href="/expert-insights/buying/36928-gina-rinehart-s-hancock-prospecting-buys-brisbane-river-residential-holding" target="_blank">Rinehart’s Wingfield Avenue Pty Ltd</a> bought the property in March 2010 for $3.175 million. It’s previously been rented out for $2000 per week in 2012.
Rinehart spent a record setting Brisbane price elsewhere on the river.
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Gina Rinehart's Chelmer listing still for sale

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Australia's richest woman, Hancock Prospecting chief Gina Rinehart, is looking to sell off another Brisbane property.
This one is the <a href="https://www.realestate.com.au/property-house-qld-east+brisbane-126126874" target="_blank">Laidlaw Parade compound</a> (above and below) that cost over $7 million combined.
Rinehart, worth an estimated $13 billion, paid $4.95 million for the home on 570 sqm in 2008 before buying the adjoining 670 sqm a year later for $2.19 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/09/Rinehart2.jpg" alt="">
The contemporary home has five bedrooms, four bathrooms and a number of entertaining decks that have panoramic views over the Brisbane River. 
McGrath New Farm agent Henry Hodge is marketing the home.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/09/Rinehart3.jpg" alt="">
It's the second listing within a year for Rinehart who put her <a href="https://www.urban.com.au/news/61756-gina-rinehart-lists-brisbane-river-investment-property" target="_blank">Chelmer investment</a> up for sale late last year.
The four bedroom home that cost $3,175,000 in 2010 failed to sell so it was put <a href="https://www.urban.com.au/news/72206-gina-rinehart-rents-out-brisbane-riverfront" target="_blank">up for lease at $1,500 a week</a>.
Rinehart <a href="https://www.urban.com.au/expert-insights/buying/36928-gina-rinehart-s-hancock-prospecting-buys-brisbane-river-residential-holding" target="_blank">broke the Brisbane residential price record</a> in 2014 when she paid $14 million for a home on a 3,400 sqm Aaron Avenue waterfront plot. She also bought the adjoining 600 sqm parcel shortly after for $4 million. Last year there were plans lodged to upgrade the master bedroom and the boathouse.
The record stood for three years before it was set earlier this year when a <a href="https://www.urban.com.au/expert-insights/investing/67251-brisbane-residential-property-record-broken" target="_blank">Kangaroo Point home</a> sold for $18.48 million.
 
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jrobinson-rf4aSBido9

Gina Rinehart lists another Brisbane property

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Australia's richest woman, Hancock Prospecting boss Gina Rinehart, has taken to renting her redundant Brisbane riverfront property while it remains on the market.
It's listed with a reduced $1,500 a week asking rental. It last rented for $2,000 a week in 2012.
Rinehart, who has an estimated wealth of over $13 billion, <a href="https://www.urban.com.au/news/61756-gina-rinehart-lists-brisbane-river-investment-property" target="_blank">listed the home late last year</a>. It cost her $3,175,000 in 2010.
The company owns 12 properties across the country, including the $18 million Hawthorne compound that set the Brisbane record in 2014.
The home is listed through Place Graceville agent Peter May and Brad Robson and is for lease through the same agency. 
The two level, four bedroom home on a 1,315 sqm parcel is surrounded by tropical gardens.
The open plan lounge and dining areas are banked by walls of glass which connect with the poolside terrace, which leads to a separate guest retreat with its own private courtyard and river views.
This article first appeared in the Weekend Australian Mansion Australia section. 
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Gina Rinehart rents out Brisbane riverfront

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Gina Rinehart's Hancock Prospecting has added another Northern Territory cattle station.
The 171,000 hectare Willeroo Station comes with around 20,000 head of Brahman cattle.
It adjoins Aroona Station, which was bought by Hancock Prospecting in March.
Great Giant Livestock (GGL), one of Indonesia's largest feedlot operators, sold the property.
Rinehart said she was interested in Willeroo Station because "we believe we can add improvements and value to the station, where we will copy what we have introduced successfully on our other Hancock stations, and are currently rolling out across Kidman properties also".
"Willeroo will well complement our existing investments in the north," she said.
"It is adjacent to Aroona Station which we acquired earlier this year allowing us to operate the two stations as a combined unit.
"Also being near to the Phoenix Park export depot it will assist part of the wet season growing program for Riveren and Inverway as well as help to provide better market timing opportunities for some of Hancock Beef's Kimberley cattle stations."
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Gina Rinehart

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