January 9, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

Colliers Agribusiness is beginning 2023 on a high note, having been appointed by partners Brett Blundy and Jane and Scotty Armstrong as the agents to exclusively market Northern Australia’s most developed cattle property, Beetaloo Aggregation.

Located in the Northwestern end of the Barkly Tablelands near Elliot, NT, Beetaloo Aggregation is a highly developed, low-cost beef production asset spanning 1,054,700 hectares (2,606,220 acres) including 72,000 head of branded cattle, representing an opportunity for potential buyers to gain control of one of the largest cattle herds in the Australian beef industry.

This asset was originally part of the vast northern holdings of cattle baron Peter Sherwin, who at one point owned 17 cattle stations, making him one of Australia’s largest private landowners. In 2002, the aggregation, consisting of perpetual leases on Beetaloo, OT Downs, and Mungabroom, was purchased by the Dunnicliff family who began the process of developing the property. In 2014, it passed into the hands of Mr. Blundy who continued to make improvements along with the Armstrong family, bringing the aggregation to its current outstanding condition.

Offered on a walk-in-walk-out basis, this asset has undergone extensive improvements to its water infrastructure, fencing, and laneways – which when combined with a mature supplement program, created a station able to consistently and sustainably carry and produce cattle in significant volumes. This very efficient breeding and backgrounding assets also provides market access to Darwin Port and to the southern and eastern markets, giving potential new owners various options for livestock marketing.

Beetaloo has also been the beneficiary of favorable climatic conditions, having more than 400 millimeters of rain over the last three months.

“It’s had a massive wet season, which  is the best in the past five years and will appeal to both Australian and overseas buyers,” said Rawdon Briggs, head of agribusiness, Colliers.

Not Just Beetaloo

Beetaloo is not the only large-scale cattle property being marketed this year by Colliers for Mr. Blundy, who is looking to fetch total combined proceeds of A$550 million by also re-listing his Walhallow aggregation in the NT after prior negotiations fell through.

Also located on the northern edge of the Barkly Tablelands, Walhallow is truly massive, spanning 1,003,400 hectares (2,479,401 acres), including in excess of 61,000 head of cattle.

Between 1987-1991, Walhallow was owned by pastoralist Janet Holmes. It  also passed through the hands of cattle barons Peter Hughes and Bill Scott, before being owned by Macquarie’s Paraway Pastoral Company from 2009-2015.

Blundy began to diversify his business interests to include cattle in 2010, and initially acquired Walhallow along with pastoralists Adrian and Emma Brown in 2015 for approximately A$100 million (US$68.94 million), setting a new benchmark at the time for a single cattle station.

The closing of the sale of Walhallow is pending with contracts submitted for review, according to Rawdon Briggs, Jesse Manual, Leah Freney, and James Beer, who all worked collectively to oversee the sale of this property.

And although Walhallow may no longer be an option, institutional and international investors have the unique opportunity to acquire Beetaloo via an international Expression of Interest process.

A public advertising campaign for the aggregation commences this month, with interested parties asked to contact Colliers agents Briggs, Manual, Freney, or Beer to formally register their interest.

Commenting on the process, Briggs said, “Offers above A$300 million (US$207.7 million) will be considered by the vendors inside the process, this guidance is given while the property has enjoyed over 400mm of rain since November ensuring the herd and operational earnings are on track after this strong wet season. The herd performance and weight gains into the 2023 dry season will be significant.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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