AGRICULTURAL fund manager AAM is offloading its fully exclusion-fenced aggregation in Queensland’s central west after four years of ownership, as it bows out of beef in the region to concentrate more on sheep.

The 34,004ha Mt Harden Aggregation comprises three adjoining freehold properties – Mt Harden, Lowana and Morundah and is located 72km from Blackall.

Offered with a strong breeding, backgrounding and finishing history and capable of running more than 6000 adult equivalents, the aggregation has been running a high quality Ultrablack and composite cattle herd.

Ray White Rural agent Bruce Douglas and RPL agent Wally Cooper have been appointed to handle the expressions of interest process closing on May 22.

The country on Mt Harden is described as a good mix of brigalow with lightly shaded open Mitchell grass downs, coolibah creek channels and almost 6000ha of developed gidgee country growing prolific stands of buffel grass.

AAM managing director Garry Edwards said during its four-year ownership, an extensive capital investment program had been undertaken across the portfolio.

“There has been a significant focus on expanding both the capacity and availability of stock water and modernising the fencing infrastructure,” he said.

Mt Harden is watered by a capped artesian bore, five sub bores and 26 dams.

Infrastructure includes two homes, workers accommodation, numerous sheds, two cattle yards and extensive new internal fencing.

Mr Edwards said the divestment of Mt Harden was part of a realignment of the company’s long-term investment strategy.

“AAM currently runs a 100,000 head integrated Certified Organic sheep meat supply chain, turning off up to 80,000 lambs annually, across the Terrick Terrick, Moorlands, Thornleigh and Wooroolah Stations in the Blackall region,” he said.

“Over recent years, the internal and exclusion fencing has progressively transitioned to sheep, with an aim to deliver large volumes of consistent product for both the domestic and international markets.”

“During this time, cattle numbers have been reduced and our beef efforts have been reallocated to the Northern Territory and New South Wales. As a result, Mt Harden is now disconnected from the company’s sheep assets in the region,” Mr Edwards said.

He said money raised from the sale of Mt Harden would be reinvested into a range of development projects across AAM’s existing portfolio.

“The company will look at other assets complimentary to its integrated supply chains – away from extensive enterprises in the Northern Territory to more intensive operations. For instance, AAM has a small feedlot footprint and needs to expand its capacity to create an integrated flow through core supply chains.”

In 2022, the AAM Investment Group purchased the historic 4053ha Bective Station west of Tamworth as the centrepiece of its production supply chain in New South Wales.

The property includes a 7000-head SCU licenced feedlot and is the base for AAM’s seedstock Wagyu program, providing herd bulls to help increase fertility performance in the company’s extensive northern Brahman herds.

Mr Edwards said recently, several interested parties had approached AAM about purchasing the Mt Harden Aggregation.

“The current market demand for high-quality pastoral holdings in central Queensland presents a compelling opportunity for the company to capitalise on favourable market conditions and realise capital growth.”

History

The Mt Harden Aggregation has changed hands a number of times in the last seven years.

In 2018, coal mine veteran and rich lister Tony Haggarty who owns the 27,000ha historic Goonoo Goonoo Station near Tamworth, paid $13.4 million for the portfolio on a walk-in walk-out basis.

Three years later, in October 2021, Mr Haggarty sold Mt Harden to the AAM Investment Group for $24.8m.

At the time, managing director Garry Edwards said the purchase would allow AAM to retain a core, high-quality beef cattle breeding herd, while building a large scale sheep flock to complement the Sunshine Farms Aggregation in the Central West of New South Wales.

AAM had stepped into mixed farming in 2020, with the purchase of the adjoining 4820ha Sunshine and the 1643ha Round Cowal for around $16m. It subsequently added the 2835ha Bergen Park, 1111ha Warili and 3666ha Glencoe to the portfolio.

Just four years later, in 2024, it sold the 14,075ha of grazing and irrigated and dryland cropping country (including almost 15,000ML of water entitlements) near Forbes, in the Lachlan Valley, for around $90 million to Nuveen who invests funds on behalf of the US Teachers Insurance and Annuity Association of America and College Retirement Equities Fund (TIAA-CREF) and others.