ChallengeVery 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.
StrategyCommenced 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.