Royal sheikh to sell NT cattle station

Idracowra Station is for sale

A billionaire sheikh from the United Arab Emirates royal family who carved his fortune through the oil industry has put his Central Australian cattle station on the market for just the second time since 1952.

Sheikh Hamad bin Hamdan Al Nahyan has set a reserve auction price of $7 million for the 462,800ha cattle station, Idracowra Station, just south of Alice Springs.

The property is offered on a walk-in, walk-out basis, including about 3000 head of cattle as well as plant and equipment through JLL’s directors of agribusiness, Geoff Warriner and Chris Holgar.

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“This substantial landholding is situated within the heart of Central Australia and has been progressively developed to represent an efficient, low-cost pastoral enterprise supplying livestock to primarily southern (domestic) markets,” Holgar says in a statement.

“Notwithstanding the current level of development, large portions of the landholding towards the southern and eastern boundary remains undeveloped. As such, a tangible opportunity exists for future development resulting in expansion of the current grazing operation,” Holgar says.

“Idracowra’s proximity to the Stuart Highway provides ease of access to Alice Springs and end markets located to the south.”

The northern part of the property is traversed by the Finke River for 90 kilometres, which provides semi-permanent and permanent waterholes. The areas which flank the Finke River are fertile and provide exceptional pasture during favourable seasonal conditions, the agents said.

Pastures include spear and various summer grasses along with areas of spinifex.

Located about 120km south of Alice Springs and approximately 10km east of Erldunda, Idracowra is accessed via a formed gravel road that adjoins the Stuart Highway.

Idracowra will be auctioned on September 6 in Adelaide.

JLL recently sold Northern Territory cattle operation Suplejack Station for $21 million.

This article originally appeared on www.theaustralian.com.au/property.