In October 2017, RFF contracted to acquire three, contiguous cattle properties in northern Queensland. The properties, Natal Downs, Longton and Narellan, referred to as ‘Natal’, encompass an area of 390,600 hectares and are situated 115 radial kilometres south west of Charters Towers. The properties contain a mix of developed and undeveloped breeding land, as well as higher value finishing land.
The properties are leased to DA and JF Camm Pty Ltd with Natal operated as the central breeding location for the lessee’s integrated breeding, backgrounding and finishing operation.
Mutton Hole, Oakland Park & Rewan Station
The Natal acquisition builds on RFF’s Queensland cattle properties acquired in mid-2016.
Two of the properties, Mutton Hole and Oakland Park, are large-scale breeding properties situated southeast of Normanton on the Gulf of Carpentaria in northern Queensland.
The third property, Rewan Station, is a high-quality backgrounding and finishing property located 55 kilometres south of Rolleston in central Queensland within commercial proximity of multiple market facilities including feedlots, abattoirs, saleyards and ports. Improved pasture on Rewan, including fodder crops, forage legumes and highly productive leucaena provides a quality feed base for fattening.
Combined, the three properties provide the lessee, Cattle JV Pty Ltd, an efficient and reliable supply of young cattle and a range of markets to sell.
|Natal||Charters Towers, Queensland||Breeding||390,600 ha|
|Mutton Hole||Carpentaria, Queensland||Breeding||140,300 ha|
|Oakland Park||Croydon, Queensland||Breeding||85,500 ha|
|Rewan Station||Rolleston, Queensland||Backgrounding and finishing||17,500 ha|
*Pro forma for the Natal transaction. See ASX disclosure 23 October 2017
^Lease expiries weighted by forecast FY18 rental income