Gina Rinehart buys another NSW farm
Gina Rinehart, has picked up another major New England pastoral asset.
The 5003.5 hectare Wirribilla grazing farm, 20 kilometres south of Walcha, is speculated to be costing $75 million.
S. Kidman & Co, in which the executive, Australia’s richest person, holds a 67 per cent stake with China’s Shanghai CRED owning the balance, will control it.
UK businessman Sam Swire was the seller; his wider family’s business, which has aviation and shipping interests too, sold him the asset in 2013 after ceasing investing in Australian agriculture since the 1960s.
Wirribilla
Some 90 per cent of Wirribilla is grazing land supported by shade and shelter infrastructure.
Eighty seven pc is sown with a long time fertiliser application history, LAWD’s Col Medway, who represented Mr Swire with Daniel McCulloch, said.
Capacity is 73,000 dry sheep equivalents, he added.
There is also secure stock water from, amongst other sources, five bores, 67 troughs, 217 dams and the Macdonald River.
Operational infrastructure includes three cattle yards, six sheep yards, five machinery sheds, two hay sheds and other shedding – all linked by laneways.
There are modern dwellings for the owner and staff too – specifically, two homesteads, six cottages and a fisherman’s hut.
High value cattle
In recent years, Ms Rinehart has been targeting the production of higher priced meat including wagyu via the Kidman Premium brand.
Also this year, S. Kidman & Co bought Jindabyne station near Inverell for $30m.
That property has the capacity to run 3500 breeding cows
Meanwhile Mr Rinehart through Hancock Prospecting acquired the Wongaboori Station near Mendooran, in central western NSW, for over $70m from Sydney lawyer Paul McGirr.
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