CONSOLIDATED Pastoral Company has paid $47.5 million for the Fitzroy region's highly productive 17,638 hectare (43,584 acre) Jimarndy aggregation.
Offered by the Simon family, the FIRB approved sale to CPC included plant and equipment valued at $500,000, but no cattle.
On a bare basis the sale equates to $2735/ha ($1078/acre) or $7580 an adult equivalent cattle area (AE) based on a carrying capacity of 6200 head.
The aggregation comprises of Jimarndy (3646ha/9009 acres), Tawarri (9500ha/23,475 acres), Tandarra (4402ha/10,878 acres) and a 4410ha (10,897 acre) forestry lease adjoining the aggregation.
CPC managing director Troy Setter said CPC intended to continue to invest further in Australian grazing and cropping properties, with the Jimarndy aggregation to be integrated into the CPC portfolio.
CPC controls more an 3.6 million ha (8.9m acres) of land running more than 300,000 cattle on now nine properties. CPC also has a 90 per cent stake in PT JJAA, which operates two feedlots in Indonesia with a combined feeding capacity of 35,500 head.
"The increase in CPC's branding rates and further development of our northern breeding properties requires us to invest further in backgrounding land," Mr Setter said.
"The property will primarily take weaners from Wrotham Park Station to grow out into feedlot steers."
Wrothan Park, which is located 80km west of Chillagoe, covers 596,880ha (1.47 million acres) and runs up to 25,000 breeders.
Mr Setter said CPC would also invest in pasture regeneration, grazing crops and leucaena at Jimarndy.
The aggregation is located near Clarke Creek on the May Downs Road about 70km of Middlemount.
Jimarndy and Tawarri were purchased by the Simon family in 1997, with Tandarra added in 2003.
A big attraction is the 16km frontage to the Isaac River and its tributaries, which flow through the aggregation.
The Simon family has also invested in water infrastructure in addition to handling yards and pasture improvements, including the development of 680ha of leucaena in the alluvial river country.
The marketing of the Jimarndy aggregation was handled by Phillip Wieland, Nutrien Harcourts, and Edward O'Dwyer, CBRE.
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