Elders Ltd (ASX: ELD) has been appointed by Jumbuck Pastoral to undertake the divestment of Rawlinna Station. Jumbuck Pastoral is one of the largest livestock production enterprises in Australia. Established in 1888, it is a family owned company with vast land holdings throughout the country.
In the mid 1950s Mr Hugh MacLachlan was travelling from South Australia to Perth on the Indian Pacific when the train stopped at a remote siding called Rawlinna. He observed that the siding had good quality underground water and, being an established pastoralist, he could see the miles and miles of open saltbush, bluebush and grass plains.
What most people saw as they traversed the Nullarbor on the Indian Pacific was not what Mr MacLachlan saw. He saw a vast blank canvas and the opportunity to design the country’s most efficient sheep station.
Mr Hugh MacLachlan first placed a survey peg in the ground during the 1960s and through meticulous planning and substantial investment, Rawlinna Station was established. It is now the largest sheep station in Australia, occupying 1,046,323 hectares and is widely regarded as an excellent example of planning and land management. The property features a renowned boundary exclusion fence that spans some 400 kms in length.
“This represents a rare opportunity to acquire Australia’s largest sheep station during a period of unprecedented growth in demand for quality Australian fibre and protein”, said Elders’ Executive General Manager Network, Tom Russo.
“The station is strategically located to give access to both the western and eastern markets and is a powerhouse of wool production, having carried up to 69,000 sheep in recent history."
"The short term opportunity is immense as Rawlinna has benefited from an outstanding season and is very conservatively stocked presently”.
“Given the strategic advantages and efficiencies that can be achieved by operating an enterprise at this scale, we anticipate receiving offers from both large private and corporate investors within Australia and internationally.”
Jumbuck Pastoral will continue to own a substantial portfolio of sheep and cattle stations throughout Australia.
Jumbuck intends to retain and grow that portfolio into the future and will remain one of the largest cattle and sheep producers in Australia.
“The portfolio of agricultural assets that has been acquired by Jumbuck over many years of sustained investment is truly extraordinary”, said Mr Russo. “Whilst the divestment of Rawlinna constitutes a significant sale, in the context of their overall portfolio, this is merely a refinement to better align the asset base with Jumbuck’s strategy moving into the future. Jumbuck’s intention is to continue to invest in the improvement and growth of their proudly Australian family owned agricultural enterprise”.
The station will be offered to market by way of a staged expression of interest process commencing in November.