Wave Hill to be sold with 40,000 branded cattle

Western Grazing's Wave Hill to be sold with 40,000 cattle

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$100M ASSET: Western Grazing's major NT property Wave Hill is being be sold with 40,000 branded cattle.

$100M ASSET: Western Grazing's major NT property Wave Hill is being be sold with 40,000 branded cattle.

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Western Grazing's major NT property Wave Hill is being be sold with 40,000 branded cattle.

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WESTERN Grazing Company is selling its major Northern Territory cattle operation Wave Hill Station.

To be sold on a walk in, walk basis with some branded 40,000 Brahman cattle, the $100 million asset is able to run up to 58,000 head in a 'normal' season, and substantially more if more of the property is further developed.

The Wave Hill operation is located in the Victoria River district, about 460km south west of Katherine. The 1.2 million hectares (2.97 million acres) aggregation, including the adjoining property Cattle Creek.

Ben Cameron and Brendan Goulding from Bentleys Transaction Services in Brisbane have been appointed to handle the sale of the aggregation, which has been held by Western Grazing for the past 28 years.

Western Grazing operates six properties, five of which are in Queensland.

Western Grazing operates six properties, five of which are in Queensland.

Mr Cameron said indicative bids were being sought from about 40 potential domestic and foreign investors. An advertising campaign would start on October 10 to comply with Foreign Investment Review Board requirements.

According to a statement issued on behalf of Western Grazing, the decision to sell Wave Hill follows a strategic review of all the company's six property operation.

The other properties are all in Queensland: Morstone Downs, Camooweal (176,000ha); Oban Station, Mount Isa (261,000ha); Magowra, Normanton (294,000ha); Allendale, Augathella (21,000ha); and Eurella, Roma (22,000ha).

An investment overview document was sent to prospective buyers in August. Interested parties signed signed a confidentiality agreement before they were issued with an information memorandum providing complete details of the sale properties.

The statement says Western Grazing remains committed to the cattle industry, its employees, customers and suppliers and will retain their other five cattle properties in Queensland.

The Wave Hill operation is located in the Victoria River district, about 460km south west of Katherine.

The Wave Hill operation is located in the Victoria River district, about 460km south west of Katherine.

"For Western Grazing it is business as usual for the entire cattle operations including the sale properties," the statement reads.

MORE READING: 'Glenmorgan: Murilla South delivers top Qld farming and grazing'.

The story Wave Hill to be sold with 40,000 branded cattle first appeared on Queensland Country Life.

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