Grower cattle on oats on Rewan
MORE than $73 million is anticipated for Central Queensland showcase cattle backgrounding and finishing property Rewan that has been listed by Rural Funds Management after ten years of ownership.
Set against a backdrop of the Carnarvon Ranges, the 17,479ha vertically integrated beef powerhouse is located 55km south of Rolleston and 170km north of Roma in some of the best grazing country in Queensland. It comprises 14,323ha of freehold land complemented by 3156ha of rolling term state forest lease.
The sale is being handled by Grant Veivers of Veivers Property, who spent 21 years on Rewan before the family sold it to RFM as part of the fund manager’s first major push into the beef sector.
Mr Veivers was unable to provide a price guide but according to RFM’s website, Rewan was last valued in 2024 at around $73 million.
Most of the major grazing operations in the Rewan area of CQ’s Arcadia Valley are owned by institutional investors and large-scale cattle producers, with Mr Veivers reporting solid early inquiry from both groups.
“A property like Rewan naturally appeals to high‑net‑worth individuals, leading family pastoral businesses and corporates who recognise the value of scale and operational reliability,” he said.
“Assets of this calibre provide buyers long‑term confidence and attract interest from groups who recognise the strategic significance of a holding of this size and productivity.”
Mr Veivers said Rewan was a rare asset that showcased the best of Central Queensland grazing country.
“Properties of this scale, development and reliability are rarely offered to the market. Rewan stands as a true blue‑chip holding – highly productive, well‑improved and underpinned by both the natural strength of the Central Highlands and the calibre of its past and present stewardship.”
Bullocks grazing leucaena browse legume on Rewan
Since acquiring the property in 2016 as part of a package worth about $50 million, RFM has undertaken extensive capital investment aimed at lifting productivity, carrying capacity and daily weight gains.
Improvements include additional water infrastructure, 2630ha of dryland cultivation, 633ha of grazing leucaena and more than 8700ha of improved pastures sown to premium buffel, Rhodes, green panic, stylos and butterfly pea.
These developments support a proven carrying capacity of 8500 Adult Equivalents.
Since 2019, Rewan has been leased by the country’s largest integrated cattle and beef producer, the Australian Agricultural Co with the current lease agreement having a further three and half years to run.
Rewan is watered by nine solar equipped, sub-artesian bores and 12 dams supported by 825mm of average annual rainfall.
Improvements include a home, a cottage, a manager’s residence, numerous sheds, and significant cattle yarding infrastructure, as well as an approved 1000 SCU feedlot, currently developed to 500 SCU with pens, feed bunks and already established induction/dispatch yards.
The fencing is well-maintained and divided into 27 grazing paddocks, serviced by an extensive laneway system.
Rewan is being offered through Veivers Property on a bare basis by expressions of interest closing on April 10. Click link below for video.
What’s next?
The sale of Rewan puts a spotlight on the future of the neighbouring 18,500ha Wyseby Station. In June 2023, RFM paid $37m for a 57.25 percent tenant-in-common stake for the portion known as Wyseby West.
RFM chief operating officer Tim Sheridan declined to comment on individual assets but said over recent years, Rural Funds Group (RFF) has redirected capital.
“The development of macadamia orchards in Queensland has shaped a strategy of funding growth through selected asset sales.”
Mr Sheridan said many cattle properties in the portfolio had recorded strong gains underpinned by productivity improvements and broader asset price appreciation across the sector.
“As a result, we have been testing the market with a number of holdings to ensure we realise maximum value for our investors.”
Other RFF sales
Mutton Hole and Oakland Park, Queensland
In May 2024, RFF listed Gulf of Carpentaria breeding properties, Mutton Hole and Oakland Park spanning 225,000ha with conditionally registered carbon sequestration projects. The two holdings were purchased in 2016 alongside Rewan as part of a $50m three property investment (including livestock) that represented its first foray into the Australian cattle industry. Mutton Hole and Oakland Price remain on the market.
Willara Aggregation, Western Australia
In Western Australia’s Mid-West region, RFM is offering the 6191ha Willara Aggregation – a mixed grazing and farming asset underpinned by a long-term lease to Wagyu supplier Stone Axe Pastoral Co. The 1597ha High Hill ($8.5m+), 1653ha Willara ($8.3m) and 2942ha Petro ($15.7m+) operate as a beef breeding, backgrounding and irrigated and dryland cropping opportunity.
Cobungra Station, Victoria
Victorian high-country grazing property Cobungra Station was put to the market in November last year by RFF after six years of ownership. At 31,292ha it is one of the largest contiguous rural holdings in the state. During the marketing campaign it was anticipated to achieve in the mid-$50m range on a bare basis.
Dyamberin, New South Wales
In July 2024 RFM announced plans to divest its high-rainfall grazing enterprise in northern New South Wales’ New England region, with hopes of raising more than $20m. The 1728ha Dyamberin is located near Wongwibinda, 34km north-west of Ebor and roughly halfway between Armidale and Dorrigo. It is also leased it to the Stone Axe. Pastoral Co.