A farming family near Alice Springs bought three adjoining cattle stations for $38.5 million in a deal that creates an impressive breeding, growing and finishing operation spanning 11,125 square kilometres.
The string of properties, Narwietooma, Derwent and Glen Helen, in the tightly-held Alice Springs district in the Northern Territory were bought by farmers Tim and Emily Edmunds to add to their nearby Napperby Station.
The properties, which are about 165 kilometres north-west of Alice Springs were sold by Northern Territory pastoralists Tony and Pam Davis, who own the adjoining Amburla and Hamilton Downs Stations.
Together the land accumulated by the Edmunds family has an estimated carrying capacity of more than 40,000 head of cattle with the ability to increase this by another 10,000 head with further infrastructure development.
The farms are in the process of being converted into organic production.
“We are always seeking new opportunities to grow and develop rural properties to reach their peak production and maximise their resilience from season to season,” Mr Edmunds said.
“This acquisition provides our existing operation with greater economies of scale and puts together country that is perfectly suited to breeding, growing and finishing quality organic, grass-fed cattle for slaughter from a single pastoral holding,” he added.
Last year the Edmunds family sold a historic homestead and farm in South Australia’s Clare Valley in one of the largest off-market sales in the state, understood to be worth about $40 million.
The cropping, sheep breeding and cattle operation, across 3900 hectares, had not been for sale but a local farming family who own and operate the nearby merino Collinsville Stud approached the owners.
Mr Edmunds said Central Australia was widely regarded as having one of the lowest costs of beef production in the nation and he was optimistic about future opportunities for the Central Australian pastoral district.
“It is renowned for producing organically certified grass-finished beef, given its position below the cattle tick zone and as it is in a blue tongue free zone, there is no need for chemical intervention to support the health and wellbeing of the cattle.”
He said the location of the properties gave it access to all Australian markets – north, south, east and west – as well as global markets.
“Our approach is that it is not about the assets you’ve got and an attitude of hoarding them – it’s about what you do with the asset whilst you’ve got it and leaving a property more productive and more resilient compared to the day you took it over.”
“We take pride in our proven track record to renovate, develop and operate high-quality rural properties and the resulting contribution to our local community and local economy,” Mr Edmunds said.
The Edmunds’ Hale River Group also owns a fleet of road trains and a spelling and transfer facility located in the Clare Valley.
Keep up with Commercial Real Estate news.