McMillan family conclude $53m purchase of Wollogorang and Wentworth

Gulf family buys Wollogorang, Wentworth for $53m

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The McMillan pastoral family from Cloncurry has bought two large properties on the NT border from a Chinese billionaire for $53 million.

The McMillan pastoral family from Cloncurry has bought two large properties on the NT border from a Chinese billionaire for $53 million.

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The McMillan pastoral family from Cloncurry has bought two large properties on the NT border from a Chinese billionaire for $53 million.

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The McMillan pastoral family from Cloncurry has bought two large properties either side of the Queensland - NT border from a Chinese billionaire for $53 million.

The family, who own properties across the north west, bought Wollogorang and Wentworth Stations, which are run as one property on the Gulf of Carpentaria.

The sale was under contract in February and concluded this week.

The significantly developed operation was offered on a walk in, walk out basis with 30,000 cattle.

The seller was TBG Agri Holdings owned by billionaire Xingfa Ma.

Mr Ma, owner of massive ball bearing producer Tianma Bearing Group is listed as one of the top 400 wealthiest people in China.

TBG paid $47m to cattleman Paul Zlotkowski for Wollogorang and Wentworth in 2015. More than $7 million is understood to have been spent upgrading and developing new infrastructure as well as a significant investment in genetics.

Wollogorang covers 576,198 hectares (1.42 million acres) in the Northern Territory and Wentworth 129,000ha (318,766 acres) in Queensland. The operation totals 705,198ha (1.74m acres).

There is 80km of coastline, 12km of which is accessible through Wentworth.

By plane, Wollogorang is 500km north west of Cloncurry, with good access to the property on bitumen and formed gravel roads.

The McMillans also own Calvert Hills Station, which borders Wollogorang on its eastern boundary, having bought it in 2013 for $15 million.

SEE ALSO: Cloncurry Show goes digital this year

The story McMillan family conclude $53m purchase of Wollogorang and Wentworth first appeared on The North West Star.

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