Blundy puts second big NT cattle station on market
RETAIL billionaire Brett Blundy is set to offload two of his Northern Territory cattle stations in 2023 for more than $550m as good rainfall brings out cashed up offshore and local buyers.
Mr Blundy, and business partners Jane and Scotty Armstrong, have put their million hectare Beetaloo Aggregation on the market, and the property is expected to attract offers of more than $300m.
His other million hectare NT asset, the Walhallow Aggregation, was put back on the market after negotiations with a fund fell through. There are expectations it will sell for more than $250m.
Colliers Agribusiness head of agribusiness Rawdon Briggs said favourable seasons and the locations have ensured plenty of buyer interest.
“The type of buyers for Beetaloo are very similar to those for Walhallow,” Mr Briggs said.
“Beetaloo is very close to the Stuart Highway ... and it also has access to the Carpentaria Highway.
“It’s had a massive wet season, which is the best in the past five years and will appeal to both Australian and overseas buyers.”
The Beetaloo Aggregation is an extensively developed low-cost beef production property at the north western end of the Barkly Tablelands.
The aggregation spans 1,054,700ha and is being offered on a walk-in-walk-out basis including about 72,000 head of branded cattle. It was originally part of the northern Australia empire of NT cattle king Peter Sherwin.
The aggregation was then bought by the Dunnicliff family in 2002 and is made up of the perpetual pastoral leases of Beetaloo, OT Downs and Mungabroom.
The Dunnicliffs developed the aggregation and it was further developed by the Armstrongs and Mr Blundy, who bought into it in 2014. Over 20 years it has benefited from water infrastructure, fencing and laneway development which have enabled it to produce large volumes of cattle.