CENTRAL Australian cattle property Idracowra Station is heading to auction with a $7 million reserve price on a walk in, walk out basis.
To be auctioned by JLL Agribusiness in Adelaide on September 6, the 462,800 hectare (1.14 million acre) pastoral lease, is located 120km south of Alice Springs.
The property is being offered with about 3000 cattle and plant and equipment. The estimated carrying capacity is 7500 adult cattle equivalents.
Idracowra is being offered by the company Shoujaa, which is owned by Abu Dhabi's royal ruling family member, Sheikh Hamad Bin Hamdan Al Nayhan. The Sheikh bought the property in 2007.
It is only the second time since 1952 that Idracowra has been offered to market.
Geoff Warriner and Chris Holgar from JLL Agribusiness have been appointed are handling the auction process.
"This substantial landholding has been progressively developed to represent an efficient, low-cost pastoral enterprise supplying livestock to primarily southern (domestic) markets," Mr Holgar said.
"Notwithstanding the current level of development, large portions of the landholding towards the southern and eastern boundary remains undeveloped.
"As such, a tangible opportunity exists for future development resulting in expansion of the current grazing operation."
Mr Warriner said Idracowra's proximity to the Stuart Highway provided ease of access to Alice Springs and end-markets in the south.
"The Finke River, which traverses the northern portion of the property for 90km, provides various semi-permanent and permanent waterholes," Mr Warriner said.
"Areas which flank the Finke River are fertile and provide exceptional pasture during favourable seasonal conditions."
Areas of low edible mulga are evident throughout the landholding with substantial stands located towards the southern boundary.
Pastures include spear and various summer grasses along with areas of spinifex. Of note, various edible herbages are evident along with bluebush and extensive stands of parakeelya following seasonal rain.
Located about 120km south of Alice Springs and 10km east of Erldunda, Idracowra is accessed via a formed gravel road which adjoins the Stuart Highway.
JLL recently sold Northern Territory cattle operation Suplejack Station for $21 million at auction, which was transacted by Mr Warriner and Mr Holgar.
Idracowra will be auctioned by JLL Agribusiness in Adelaide on September 6.
Contact Geoff Warriner. 0408 687 880, or Chris Holgar, 0411 177 167, JLL Agribusiness.
