Billionaire sheikh lists 462,800 hectare Alice Springs cattle station
Billionaire sheikh, United Arab Emirates-based oil industry mogul Hamad bin Hamdan Al Nahyah, is selling the enormous Idracowra cattle station, south of Alice Springs.
The 462,800 hectare holding will be auctioned with a reserve price of $7 million.
Idracowra is being offered on a walk-in, walk-out basis.
JLL’s recently appointed directors of agribusiness, long-time colleagues Geoff Warriner and Chris Holgar have the listing.
“This substantial landholding is situated within the heart of Central Australia and has been progressively developed to represent an efficient, low-cost pastoral enterprise supplying livestock to primarily southern (domestic) markets,” Mr Holgar said.
“Notwithstanding the current level of development, large portions of the landholding towards the southern and eastern boundary remains undeveloped,” the broker added. “As such a tangible opportunity exists for future development resulting in expansion of the current grazing operation”.
“Indracowra’s proximity to the Stuart Highway provides ease of access to Alice Springs and end markets located to the south”.
The northern part of the property crosses the Finke River for 90 kilometres – something the brokers say provides semi-permanent and permanent waterholes”.
“The areas which flank the Finke River are fertile and provide exceptional pasture during favourable seasonal conditions,” the agents said.
Indracowra, about 10 kilometres east of Erldunda and 120 kilometres from Alice Springs, will be auctioned on September 6.
The listing comes six weeks after JLL’s $21 million sale of the 381,000 hectare Suplejack – Northern Territory’s most isolated cattle station, about 700 kilometres north-east of Alice Springs.
Sheikh Hamad bin Hamdan Al Nahyah, renowned for his love of cars and monster trucks, is from one of the United Arab Emirate’s six ruling families. His personal net worth is estimated to be nearly $30 billion.
In 2015, the businessman banked more than $4 million selling 592-hectare rural property Beaudesert, south-west of Brisbane, to an earthmoving company.
