Gina Reinhart buys Willeroo Station

Gina Reinhart’s Hancock Prospecting buys Willeroo

NT SALE: Gina Reinhart's Hancock Prospecting has bought Willeroo Station, west of Katherine.

NT SALE: Gina Reinhart's Hancock Prospecting has bought Willeroo Station, west of Katherine.

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Gina Reinhart's Hancock Prospecting has bought Willeroo Station, west of Katherine.

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GINA Reinhart’s Hancock Prospecting has been confirmed as the buyer of the 232,000 hectare (573,284 acre) Northern Territory property Willeroo Station, on the Victoria Highway, west of Katherine. The price is undisclosed.

Owned by Agri International, the Australian arm of the Indonesian company Great Giant Livestock, the property was used to support two feedlots in Sumatra. GGL has been importing Australian cattle for almost 30 years.

Agri International have undertaken more than $4.5 million in improvements on Willeroo during its ownership, including extensive water developments, a fencing and cattle yard program, and upgraded staff facilities.

The property was sold on a walk in, walk out basis with more than 19,000 cattle.

Prior to Agri International, the property was owned by the Sultan of Brunei.

Agri International director Josep Lay congratulated Hancock Prospecting on their purchase of Willeroo.

“This had allowed a significant increase in the carrying capacity of over 40 per cent during its tenure,” Mr Lay said.

“Willeroo Station has been a fantastic opportunity for the principals to understand and participate in the northern Australian cattle industry.

“Agri International and the parent company are particularly proud of their input into the industry in developing Willeroo, and the community with their support of the Katherine campdrafting competitions and local services.

Mr Lay also thanked the property’s management and staff, especially during the sale process.

Peter Watkins, Australian Ag Advisory and Management, acted as the management adviser for Willeroo during the past three years.

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