Gina Rinehart: Australia’s richest person selling off $300m portfolio
Australia’s wealthiest person, Gina Rinehart is selling off around $300m of her incredible property portfolio and an area 50 per cent bigger than Greater Sydney.
The mining magnate has put parts of her livestock and cattle stations real estate portfolio in the Northern Territory and Western Australia on the market.
The listings include over 100,000 head of cattle and almost 18,760 sqm or 1.876 million hectares. According to the ABS, the Sydney metro area covers 12,400 sqm.
According to the AFR, the sell off is around 20 per cent of the agricultural land owned by Ms Rinehart.
She is looking to take advantage of fertile market conditions for agricultural holdings.
Rural giant Elders will sell off the land and cattle via expressions of interest.
The listing includes the Aroona, Willeroo, Riveren and Inverway stations in the NT.
In WA, Ms Rinehart is planning to offload Nerriama Station and leaseholds in Ruby Plains and Sturt Creeks.
The holdings are expected to gain considerable interest from local and world players already heavily entrenched in the beef market.
“The demand for Australian protein is real and poised for exponential growth as world populations continue to grow and prosper.
Investing now to participate in the Australian supply response is an enormous opportunity,” Elders’ general manager of real estate, Tom Russo, told the AFR.
Earlier this year, Ms Rinehart was also in the headlines for her real estate moves when linked to the Sunshine Coast’s hot property market over the summer.
The Daily Telegraph reported in February, Ms Rinehart had become a holidaying Noosa regular over the summer, with heightened speculation that she had splashed out on a holiday home on the Sunshine Coast.
Local real estate vendors were lining up hoping for her largesse, but she may have sealed an off-market deal for the home of her desire.
She apparently pinpointed the Mossman Court inland riverfront strip as her preferred destination whenever she’s keen to escape her Brisbane riverfront location.
There are fewer than 40 houses on the court widely considered the most prestigious riverfront address.
They often have their own private stretch of sand and a jetty.