Two more Hancock cattle stations sell

Marian Macdonald
By Marian Macdonald
Updated December 15 2021 - 12:26am, first published December 13 2021 - 12:40am
VENDOR: Gina Rinehart's Hancock Agriculture has sold another two cattle stations from its portfolio.

Another two Hancock Agriculture stations have been sold to two Australian family farm businesses, one from South Australia and the other from the Northern Territory.

The ABC reported that the two stations south-west of Katherine, Willeroo and the neighbouring Aroona, made more than $60 million in total.

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Frank DiGiorgio confirmed his family had bought the 147,510-hectare Aroona but said the "ink was still drying" on the deal and did not want to comment further.

Based at Lucindale, SA, the extended DiGiorgio family is known for its Sterita Park Angus stud, sheep enterprise and DiGiorgio Family Wines business.

Meanwhile, the 171,000ha Willeroo Station has been purchased by the NT's Brett family, Hamish Brett confirmed this week.

The family, known for spearheading the class action against the live export ban, runs up to 25,000 head on the 1895-square-kilometre Waterloo Station and has an export depot based near Darwin.

The ABC reported it would pay $40m for Willeroo, which Gina Rinehart's mining business, Hancock Prospecting, bought for around $30m in 2017.

The broadcaster said the adjacent Aroona Station had sold to the DiGiorgio family for $22.7m, which Hancock purchased for approximately $20m, also in 2017.

In fact, Willeroo and Aroona are part of a 1,876,629ha offering comprising seven stations across Western Australia and the NT.

As well as the real estate, the total offering includes a cattle herd of approximately 108,500 head that has the capacity to turn off up to 45,000 head of cattle a year.

In September, more stations, Nerrima, Ruby Plains and Sturt Creek, were reportedly sold to two other Australians, Johnathan Emanuel and Viv Oldfield, respectively.

Elders put the portfolio on the market in March 2021, offering it as a whole or in individual pieces.

Even once the giant farmland sell-off is complete, Ms Rinehart's agricultural holdings make her companies among the largest beef producers in Australia, with more than 30 properties complementing the mining business.

Marian Macdonald

Marian Macdonald

National rural property writer

Writing for farmers in the Stock & Land, The Land, Queensland Country Life, Stock Journal and FarmWeekly, farming in Gippsland.

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