CONSOLIDATED Pastoral Company (CPC) says it is seeking to invest in the future of the business through the sale of three of its Queensland properties on October 6.
CPC, which is Australia’s largest privately owned beef producer, will offer Mount Marlow and Gowan in the Blackall district and Cooinda Station, north of Winton, at a Ruralco Property auction in Brisbane on October 6.
Andrew Adcock, who is handling the sales on behalf of Ruralco Property, said with recent rain across the region, the properties were well presented.
The properties will be also offered with the opportunity to acquire cattle from CPC.
Mount Marlow comprises of 73,100 hectares and is described as ideally suited to be run as a breeding and growing property. The organically certified property is estimated to carry 4000 mixed cattle. Mount Marlow has 32km of frontage to the Barcoo River with extensive channels and permanent and semi-permanent waterholes. There is a diversity of pastures includes Mitchell, Flinders, button and buffel grasses as well as prolific herbages, blue bush and lignum.
Gowan is a 18,077ha property located about 70km south of Blackall. It has a mixture of developed gidyea sown to buffel grass, lightly shaded Mitchell grass, lightly shaded pebbly gidyea country and flooded Coolibah creek systems. Gowan is estimated to carry 3000 to 4000 cattle, with all paddocks watered by the property’s reticulated bore system.
Cooinda Station is a 24,300ha property located 70km north of Winton. Cooinda is described as ideally suited to back grounding cattle for northern and southern markets. With an estimated capacity of 3000 to 4000 cattle, features Flinders and Mitchell grass with plentiful artesian water.
They have all been acquired in the period since 2004 when Mount Marlow was purchased from Michael Gibson and family.
CPC chief executive Troy Setter the company was continuing to invest in the future growth of CPC and no further property sales are planned.
“These properties are being marketed with a view to reinvesting the proceeds into the further development of our existing northern stations,” Mr Setter said.
CPC currently owns or operates 19 cattle stations comprising more than 5.6 million hectares. The $700m company also holds an 80 per cent interest in a joint venture which owns and operates two feedlots in Indonesia. CPC direct sales channels primarily involve selling cattle and beef to Asian consumer markets, domestic feedlots or processors, and exporting live cattle. Terra Firma is the majority shareholder.
Contact Andrew Adcock, 0407 674 972, Ruralco Property.