NT's Scott Creek sells for $12 million

Scott Creek sells for $12 million


Farm Online News
Scott Creek was one of a group of Top End cattle stations previously held by the Sultan of Brunei for more than 20 years.

Scott Creek was one of a group of Top End cattle stations previously held by the Sultan of Brunei for more than 20 years.

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The 101,000 hectare Scott Creek Station, once owned by the Sultan of Brunei, has been sold for $12 million.

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The 101,000 hectare Scott Creek Station, once owned by the Sultan of Brunei, has been sold for $12 million.

The station, just 60km from Katherine on the Victoria Highway, was put on the market by its owners, the Gschwenter family.

The new owners are Argentinian agricultural company Cross Pacific Investments, according to the ABC.

That same company was linked to the recent sale of Manbulloo Station which is also just outside Katherine on the Victoria Highway

Cattle company CPC has sold the station earlier in the year and immediately leased back the 380,000 hectare Manbulloo to continue its enormous beef operations, chiefly as a supplier of cattle to Asian markets.

ABC says the new owners are interesting in the Katherine stations for their cropping potential.

Scott Creek was one of a group of Top End cattle stations previously held by the Sultan for more than 20 years.

Gunther Gschwenter, the founder of the Britz campervan business, took over the Scott Creek Station in 2008 from a different owner and a decade later has put it back on the market as the 73-year-old progressively winds down his Northern Territory holdings, according to the AustralianFinancial Review.

Mr Gschwenter sold the Britz motorhome business in a $50 million deal to New Zealand's Tourism Holdings in 2000.

The station was once the core of a larger agglomeration and is surrounded by a number of well-known holdings including Willeroo Station, which was also once held by the Sultan and was taken over by mining magnate Gina Rinehart two years ago.

Cleared land allows for Top End cropping on Scott Creek. Picture: Elders.

Cleared land allows for Top End cropping on Scott Creek. Picture: Elders.

"Scott Creek has huge mixed farming potential. Its 1400 hectares of cleared land, positioning over three aquifers, and all-season road access makes it a very versatile investment," sales agent Olivia Thompson of Landmark Katherine told the Financial Review.

The Gschwenter family is also selling Mary River West for $4.5 million and sold Ban Ban Springs Station, south of Adelaide River, in late 2016 for about $10 million.

Speaking from Scott Creek Station, Mr Gschwenter told The Australian Financial Review he hoped to lead a more relaxing life after selling up his remaining Top End assets.

"I'll go travelling. I only got into to this station business by accident. I bought Ban Ban initially for tourism purposes. My customers from Germany, they had never seen anything like it, a cattle station."

Katherine Times

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