Gunn Agri pays $11m for stations

14 Dec, 2015 06:10 AM
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FARM management company Gunn Agri Partners has purchased three cattle stations in southern Queensland for $11 million.

The Sydney-based Gunn Agri Partners, headed by Macquarie Group's former chief operating officer in Brazil, Alan Hoppe, snapped up 36,000 hectares near Roma in the Maranoa region.

The portfolio comprises Ballaroo with 11,463 hectares, Ekari Park with 13,239 hectares and Fairview with 11,393 hectares.

The transaction caps off a strong year in the southern Queensland cattle property market with deals including Chinese Hailiang Group's purchase of Hollymount Station near St George, BRW Rich Lister Tom Strachan's purchase of Lighthouse Station and Australian Country Choice's purchase of Opal Creek feedlot. The Ballaroo portfolio has a combined carrying capacity of 6000 head of cattle.

CBRE Agribusiness' Chris Holgar and Geoff Warriner, who negotiated the sale on behalf of Ekari Park Pty Ltd, said the portfolio's potential, due to its quality land and soil types and location, was pivotal to the deal.

"Strategically positioned in close proximity to Roma - Australia's cattle capital - this portfolio presented a unique opportunity to acquire a premium rural landholding of scale," Mr Holgar said.

The portfolio has several development and expansion opportunities, including scope to implement a more intensive backgrounding and fattening operation which utilises the property as a cattle depot, potentially as part of a larger, integrated supply chain.

Mr Warriner said the chance to establish a strategic footprint in the red-meat supply chain of such scale in a single transaction was a "key selling factor" drawing significant interest from local, interstate and offshore investors.

While the agents declined to comment on the buyer, sources told The Australian Financial Review, Gunn Agri Partners, whose director is the son of the late pastoralist Sir William Gunn, had made the purchase.

The pioneering Sir William established a range of innovations across marketing, pricing and credit in the cattle, crops and wool industries.

Gunn Agri Partners chief executive Mr Hoppe was unavailable for comment.

AFR

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