Property

Expanding neighbours pay $70m for NT’s Tanumbirini and Forrest Hill

Beef Central, February 3, 2020

Covering almost 560,000ha, Tanumbirini and Forrest Hill were sold walk-in walk out with 36,400 cattle plus followers, and plant.

 

THE Langenhoven family has added to its rapidly expanding Northern Territory pastoral holdings with the $70 million purchase completed this week of UK-based Thames Pastoral Co’s extensive cattle stations Tanumbirini and Forrest Hill.

Australia citizens of South African origin, the Langenhoven family has invested in almost 1.1 million hectares of NT grazing country over the past two years through its Rallen Pty Ltd.

This week’s purchase of Tanumbirini and Forrest Hill join the 376,000ha large-scale Barkly Tableland breeding property Kalala Station, bought  in May last year. A year earlier the Langenhovens purchased the 80,900ha McMinn Station, south of Darwin for $7.5 million and six months later bought the neighbouring 70,700ha Big River Station for $5.5m.

Located near Daly Waters, 600km southeast of Darwin, Tanumbirini and Forrest Hill are perpetual pastoral leases covering almost 560,000ha.

Thames Pastoral bought Tanumbirini from Sterling Buntine’s Baldy Bay Pty Ltd in 2012, paying more than the $30m the holding was passed in for nine months earlier. About 30,000 head of cattle were included in that sale, completed when the northern live export industry was still in recovery mode after the live export market to Indonesia was closed.

Located near Daly Waters, 600km southeast of Darwin, Tanumbirini and Forrest Hill are perpetual pastoral leases covering almost 560,000ha.

Marketing agents Rawdon Briggs and Bram Pollock from Colliers International, and Geoff Warriner and Chris Holgar from JLL Agribusiness said the Thames Pastoral assets had one of the strongest online campaigns ever, with more than 8900 property video views, and 330 digital Information Memorandum views since launching. The assets were widely advertised on Beef Central.

Interest generated inquiries from 17 groups from across the country, and after qualifying, three groups were shortlisted for bidding. Rallen Australia’s winning bid was accepted by vendors.

The properties were sold walk-in walk out with 36,400 cattle plus followers, and plant.

Both holdings have been developed in recent years through upgrades to stock water, poly pipe, yards, fencing and homestead buildings. An additional 2500 head of carrying capacity was developed in 2019, ensuring 40,000 head of stated cattle carrying capacity with annual pasture monitoring reports supporting improving land condition over the past five years.

Further development opportunities exist to unlock more value, especially considering that the assets are situated on top of the Beetaloo Basin gas reserves.

Both properties benefit from quality bitumen highway frontage allowing strategic and timely access to markets. Both included excellent station complexes which cater well for management and station staff.

The sale is subject to NT ministers’ consent.

 

 

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