PACKHORSE Pastoral Company has listed three of its key cattle properties for sale.
The listings through CBRE following the tragic death of Packhores co-founder and "chief storyteller" Tom Strachan.
Mr Strachan, his son Noah, and pilot Garry Liehm were killed in a light plane crash near Fernvale on August 29.
Covering 27,124ha (67,025 acres), the Packhorse portfolio comprises of the 8344ha (20,618 acre) Stuart's Creek Station located 50km north west of Roma; the 10,029ha (24,782 acre) Moolan Downs Station, situated 200km south east of Roma; and the 8371ha (20,685 acre) Ottley Station, which is 50km west of Inverell.
Acquired during the past three years, the properties are used as "grass motels" and for carbon sequestration in line.
Packhorse chairman Tim Samway said the company's directors would consider expressions of interest to continue the successful regenerative work the company had been undertaking on its properties.
"That could be with a new partner who could inject substantial new capital but equally the company would welcome interest from local landowners who may wish to acquire one property or a line of three outstanding properties and so benefit from the economies of scale," Mr Samway said.
The three properties are rated to carry about 13,600 cattle equivalents and are mostly used for growing-out cattle under an agistment agreement.
In addition, the country is subscribed to carbon sequestration projects, which are designed to provide both responsible environmental outcomes and substantial additional income.
The currently registered projects are set to produce about 28,000 ACCUs a year within five years. At the current $30-$40 ACCU price, the projects ares expected to provide annual revenue of about $840,000 to $1.12 million.
Each of the properties are well improved and are fenced to optimise both grazing and soil carbon management efficiencies.
The properties are available individually or collectively, meaning corporations, investors and local farmers will all have an opportunity to participate in the process.
CBRE's James Auty said a similar process was used by CBRE's to sell the extensive Shenhua portfolio near Gunnedah.
Expressions of interest close with CBRE on December 15.
Contact David Goodfellow, 0438 662 134, or James Auty, 0407 053 367, CBRE.
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