Rine­hart con­tin­ues to build wagyu em­pire in NSW

The Northern Star - Northern New South Wales Rural Weekly - - FRONT PAGE -

MIN­ING mag­nate Gina Rine­hart is con­tin­u­ing to ex­pand her cat­tle em­pire, with the re­cent pur­chase of graz­ing prop­erty Glen­don Park in New Eng­land, NSW.

The 3234ha ag­gre­ga­tion will be used to grow Han­cock Prospect­ing’s 2GR Wagyu herd and brand, which was launched in Fe­bru­ary last year.

Mrs Rine­hart said in a me­dia state­ment that Glen­don Park – which is 40km north­east of Ar­mi­dale – was a “high qual­ity prop­erty that is well lo­cated near our ex­ist­ing op­er­a­tions and will 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.

Han­cock’s wagyu herd com­prises about 20,000 head across mul­ti­ple prop­er­ties, and the com­pany an­tic­i­pated to ex­pand with con­tin­ued in­vest­ment, HPPL said in a state­ment.

The wagyu bred on Glen­don Park would be fin­ished and pro­cessed in Aus­tralia, be­fore be­ing de­liv­ered into mainly lo­cal and some over­seas mar­kets, in­clud­ing Nobu restau­rants in Aus­tralia and over­seas.

The ag­gre­ga­tion was listed for sale through an ex­pres­sions of in­ter­est cam­paign by Col­liers end­ing on Au­gust 23.

Sell­ing agent Mike Clifton said there was strong in­ter­est in the prop­erty, with more than 70 in­quiries.

“That cul­mi­nated in half a dozen bids. It was a suc­cess­ful cam­paign with the prop­erty sold in a pretty dif­fi­cult time in the mid­dle of the drought,” Mr Clifton said.

“It is a sig­nif­i­cant hold­ing in the New Eng­land area, with the ven­dors sell­ing to re­lo­cate over­seas, hav­ing owned it for ap­prox­i­mately 10 years.

“It has been highly de­vel­oped in terms of fenc­ing, sub­di­vi­sion and wa­ter.”

PHOTO: CON­TRIB­UTED

NEW AC­QUI­SI­TION: Gina Rine­hart has bought Glen­don Park in New Eng­land, NSW.

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