QUEENSLAND BULL BREEDERS TO BUY NTs EPENARRA STATION FROM FILIPINO OWNER FOR $14 MILLION!

 

 

FINALLY a sale going the other way, unfortunately it is a rare event.

WHY are we selling out our productive resources and assets?

WHY can foreigners and foreign entities buy just about whatever they like in Australia?

CAN Australian companies and individuals buy up foreign real estate and assets at will?

WHY are Australian governments so timid when it comes to protecting our resources, assets, real estate and heritage?

WHY don’t Australian politicians stand up for Australia instead of bowing to the desires of foreigners?

WHY are Australian politicians so scared of being criticised for the slightest effort to protect our sovereignty?

WHY are Australian politicians prepared to approve the sale of just about everything in Australia including our PORTS but when it comes to the PBS, some electricity assets, communication infrastructure and Medicare they suddenly have a rethink and take them off the market, could it be they feel it might actually do no good and they could even lose their position in Parliament for being so stupid?

ARE our pollies primarily motivated by self-interest?  GO on what do you reckon, could the answer be self-evident?

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QUEENSLAND BULL BREEDERS TO BUY NTs EPENARRA STATION FROM FILIPINO OWNER FOR $14 MILLION!

NT Country Hour

A western Queensland bull-breeding family has agreed to pay more than $14 million for a Northern Territory cattle station owned by a Filipino businessman.

Key points:

  • David and Suzanne Bassingthwaighte from Muldoon Station have struck a deal to buy Epenarra Station
  • Epenarra was owned by Filipino businessman, Romeo Roxas, and comes with 8,000 head of cattle
  • The Bassingthwaightes bought the property because all of their five children want to “come home”

 

David and Suzanne Bassingthwaighte have struck a deal for the 265,000-hectare Epenarra Station, 550 kilometres north-east of Alice Springs, which is expected to settle early next week.

Around 8,000 Brahman-Droughtmaster cross female cattle and a number of Santa Gertrudis bulls were included in the walk-in, walk-out sale.

Epenarra will be the second station sold by Filipino property developer Romeo Roxas since February, after he listed three Central Australian properties for sale late last year.

 

The Bassingthwaightes, trading as Bass Cattle Company, and their five children are prominent Santa Gertrudis breeders, operating out of Muldoon Station near Augathella, about 1,800 kilometres from their new property.

Mr Bassingthwaighte told theABC he saw Epenarra as a great opportunity to get into a larger-scale property.

“We’re just expanding our cattle enterprise, I guess,” he said.

“The opportunity arose in our price range — that’s probably the biggest thing — and with a big number of cattle … so there’s a ready-made cash flow.”

Mr Bassingthwaighte said they would keep breeding Santa Gertrudis bulls on the property, but would shift much of Epenarra’s current herd over to Queensland, which had recently received rain.

“We’ll be looking to get more Santa bulls into the Territory — they handle the conditions really well and they’re great cattle,” he said.

“If we’ve got the place there, we can use that as a depot and then people can buy them from there.

“We’re probably looking to take most of the [Epenarra] weaner heifers back to Muldoon, grow them out up to feeder weight, and sell them on.”

Mr Bassingthwaighte said he and his wife would remain based at Muldoon Station, but the family would be spending plenty of time in the NT.

“We’re heading up there now to do a round of mustering and get our head around how to run the place,” he said.

“We’ll put a manager on, but we’ll be going backwards and forwards all the time.”

Station and cattle in good condition

Landmark Russell agent, David Russell, who oversaw the sale of Epenarra, said both the buyers and the vendor were happy with the result.

Mr Russell said the cattle sold were in “very good condition”, after the station received a decent amount of rain earlier in the year.

Mr Russell said the previous owner had put “a massive injection of funds” into the property, leaving it in good condition for the new owners, but there was more property to be developed.

“There’s some 130 to 140 kilometres of fencing we’ve done there, and probably 10 or 12 big tanks we’ve put there,” he said.

“There’s a bit more work that needs to be done with some bores and opening up a bit more country there.”

‘Everything’s for sale’

Mr Russell said his client, Mr Roxas, had decided to hold on to Murray Downs Station — which remained lightly stocked after an extended dry patch — and he would work on the property to increase its value.

“To get the value really for what Murray Downs is worth, he needs to do work to it and get the numbers up a bit and in time it will come on,” Mr Russell said.

“His ideas are to move forward with a lot more bores and dams, troughs and poly pipe and fencing — grow the numbers up there.”

Mr Russell said Mr Roxas was “quite comfortable in the NT” and would remain active on the pastoral property market as both a buyer and a seller.

“[But] if somebody comes along with the right money, everything’s for sale.”

 

 

SOURCE:  https://www.abc.net.au/news/rural/2019-06-07/nt-epenarra-station-sells-for-14-million-to-qld-bull-breeders/11185618

 

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