Consolidated Pastoral Company's Manbulloo Station sold

Consolidated Pastoral Company's Manbulloo Station sold


Property
Manbulloo Station has been sold and immediately leased back by CPC.

Manbulloo Station has been sold and immediately leased back by CPC.

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Cattle company CPC has sold Manbulloo Station just outside Katherine on the Victoria Highway.

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Cattle company CPC has sold Manbulloo Station just outside Katherine on the Victoria Highway.

CPC immediately leased back the 380,000 hectare Manbulloo to continue its enormous beef operations, chiefly as a supplier of cattle to Asian markets.

As a piece of a larger group, Manbulloo has also been important to take on stock from its Barkly properties hit by a long dry.

Manbulloo has almost 60 kilometres of frontage to the Katherine River as well as many kilometres of frontage to the King River.

CPC is managed by majority UK-owned company which owns and operates a portfolio of 15 cattle stations with a carrying capacity of over 400,000 head of cattle across more than 4.7m hectares of land in Australia.

The Manbulloo sale followed a similar sale and leaseback completed earlier for Carlton Hill Station near the WA/NT border.

There are some media reports suggesting the Manbulloo sale and leaseback was worth about $25 million.

A consortium of new owners, including Australian and foreign investors, is believed to have been involved in the sale.

CPC has been gradually selling off its stations over the past year.

In January, CPC announced the sale of a cluster of three neighbouring stations to investment group Clean Agriculture and International Tourism (CAIT).

The stations include Auvergne and Newry Stations which are located in the Victoria River region of the Northern Territory and Argyle Downs Station which is located in the East Kimberly region of Western Australia.

Katherine Times

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