Homestead complex on Millungera

ONE of Northwest Queensland’s showcase breeding and backgrounding properties will test the property market during an upcoming expressions of interest campaign.

Historic Millungera Station, capable of running around 50,000 cattle, covers some 342,000ha of country north of Julia Creek.

It’s understood the sale will include around 50,000 branded Santa and Charbray cattle, following a good season. Early estimates suggest the walk-in, walk-out deal could be worth $200-$250 million, making it one of the largest single-property grazing land transactions in history, if a buyer can be secured.

Surrounded by some of the largest cattle business operators in the nation, Millungera is sure to attract interest from Australian and international corporates, institutional investors and high net wealth individuals. Near neighbours include Dalgonally to the southwest; Canobie, Iffley and Wandoola to the northwest, and Saxby Downs to the east.

Millungera has been used as the breeding nursery for owners and developers, the Acton family, for the past 40 years. Evan Acton and his late brother, Graeme, bought the asset during the historic CSR property portfolio auction in 1985, paying what was then an enormous sum of $7 million, including around 25,000 cattle. Th CSR portfolio was recognised as some of northern Australia’s choicest grazing assets, curated over a century or more.

Since then the Acton family’s Acton Land & Cattle Co (today operated by Evan Acton & family’s Acton Cattle Co) ploughed millions into the country, improving waters, fencing, cattle handling capability and internal roads, plus genetics, making the asset a highly-efficient calf factory.

In addition to large-scale, efficient cattle production, Millungera’s scale, location and natural resources lends itself to natural capital and carbon projects, as well as irrigated farming potential.

To give an appreciation of its size, relative to much smaller neighbours, Millungera spans 110km north to south, and 106km east to west.

The property boasts an operating history stretching back more than 160 years, making it one of the earliest established pastoral enterprises in the region. Much of the past century was under either Acton or CSR Pastoral ownership.

The station is bound by the Flinders River on the southwestern boundary, severed by the Saxby River in the southern part and drained to the north into the Gulf of Carpentaria by a number of creeks.

Country types consist of a mixture ranging from good river frontages, open Mitchell grass downs, soft forest, and small areas of gidgee:

• Some 68,000ha or 49pc of the land area is sandy forest with areas of black soil plains, areas of gidgee scrub and better quality forest, grassed with black and white spear, kerosene and wire grasses. Some buffel grass has also spread throughout parts of this country.
• Some 130,000h or 38 of the land area is open to shaded black soil downs, lightly timbered with scattered whitewood. Heavily grassed with Mitchell, Flinders, Bluegrass and herbages in season.
• A further 26,000ha of country (8pc of the land area) is river frontages and channels to Flinders and Saxby Rivers.
• Timbered gidgee country on heavy grey/black clay soils accounts for the remaining 18,000ha, or 5pc of the land area, broken in areas with some bauhinia and open areas.

There are an abundance of natural and artesian water supplies across the property for livestock grazing, including 21 bores, 25 dams and extensive frontage to the Flinders and Saxby Rivers. Some of the waterholes within the river systems are permanent. The property is primarily watered with extensive water infrastructure comprising troughs, poly pipe, dams and bore drains. Average annual rainfall is 655mm.

The primary sales channels include the Central and Southern Queensland grassfed and feeder steer markets, as well as beef processors in these regions that supply to the domestic and export boxed beef trade. The live export trade from Northern Australia (ex-Townsville & Darwin) is also a market that is available however, is not currently utilised by the Acton family.

Millungera is being offered by expressions of interest through Bentleys Queensland, via accountants Ben Cameron, Rohan Dunsdon or Brendan Goulding. First round offers closing 25 July can be lodged through www.millungerastation.com.au

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