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Case Study Agribusiness: “Legune Station” Northern Territory

Legune Station Hero

Challenge

Very few Northern Territory pastoral properties have sold during an application for diversification lease term for alternative land use outside of beef cattle production.

High annual rainfall in region limits the alternative uses for the land and proximity to the ocean and Victoria River. Access issues during the wet season could delay operations for up to three months.

Strategy

Commenced a two stage Registration of Interest (ROI) campaign, followed by an International Tenders campaign shortly after. Targeting of buyers was mostly off-shore, and predominantly Chinese.

Additionally, approaches were made to known domestic ASX listed companies with a focussed alternative uses.

Colliers Agribusiness managed the whole campaign process, including preparation of all marketing proofs and property related reports and material for client approval.

All qualified approaches were recorded electronically and information of these participants, including the executed Non-disclosure Agreements (NDA), data room management, market feedback and other property related issues were reported back to the vendor weekly.

Results

Property sold directly by post tenders negotiation for circa $60 million including 30,000 head of cattle. Price achieved of $1500 per beast area was 50% above the last 2 sales in the region.

Related Experts

Rawdon Briggs

Head of Agribusiness, Transaction Services

Brisbane

Rawdon is a direct and to the point communicator that focuses on clients long term outcomes and objectives. Rawdon  is a 5th generation rural land owner in Central QLD, well  known as an Agribuiness Broker  who follows through on what he says. A regarded negotiator that is versatile,  adaptive and outcome driven.

Rawdon is a focused specialist within Beef, Cotton, Horticulture & Grain commodity disciplines of agricultural that are either corporate farmers and traditional farming family owners or operators.

Colliers has enabled Rawdon to partner with some of Colliers finest people & platforms to ensure the clients brief is delivered from preparation to settlement for any asset Sale, Lease or J.V.

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