The Sultan of Brunei has sold one of his cattle stations in the Northern Territory to an Indonesian company.Willeroo Station is located 130 kilometres south-west of Katherine and has an estimated carrying capacity of 22,000 head.
The name of the Indonesian buyer and price paid is yet to be disclosed, but the station passed in at auction last year for $12 million.
Ruralco agent, Andrew Gray, has described the company as being a ‘very private business’ which has a ‘long association with the Northern Territory’s livestock industry’.
He says it’s taken around six months of negotiations to finalise the sale.
“Willeroo has been purchased by this company to basically sure-up a supply chain,” he said.
“It’s a real shot in the arm for the Northern Territory, which has had to come off a very low base of confidence.
“But with the sale of Killarney to the Jumbuck Pastoral Company and the Riveren and Inverway sales (to Santori) and so on, it’s a tremendous testament to the Territory’s livestock industry.”
It’s been almost six months since prominent Indonesian cattle importer, Santori, bought Inverway and Riveren stations from the Underwood family in the Victoria River District.
The sale of Willeroo means the Sultan of Brunei now owns just the one cattle station in the NT – Opium Creek.
Mr Gray says another Indonesian company is expected to buy a ‘smaller’ property near Katherine this week.
In other property news, Moroak Station in the Roper River region of the Northern Territory is up for sale.
The 232,000 hectare property is being sold with 20,000 Brahman and Charbray Brahman cross cattle.
Mon, 14 April 2014