Suplejack Station sold: Northern Territory landholding sells for $21m at unreserved auction
Beef cattle enterprise changes hands for the first time in 55-year history
Northern Territory cattle operation Suplejack Station sold for $21 million at auction in Alice Springs on Friday, June 14.
JLL’s Directors – Agribusiness Geoff Warriner and Chris Holgar were appointed in May 2019 to sell Suplejack, a single pastoral lease over 381,700 hectares in the Tanami region of the NT.
It was the first time the property had been offered for sale since it was settled in 1964 by the late Robert and Lillian Savage.
The purchaser is a company related to Robert Savage.
Bidding started at $14 million and progressed between the parties before the hammer fell.
About 50 people attended the auction at the Alice Springs Convention Centre.
Before the auction, Mr Warriner said: “Suplejack is part of Australian pastoral pioneering history and is an efficient enterprise supplying livestock to primarily northern export markets.
“It has been thoughtfully developed to represent a productive holding underpinned by practical operational infrastructure, secure water resources and diverse land and soil types.”
Suplejack Station is one of the first big properties Mr Warriner and Mr Holgar have taken to market since joining JLL in February 2019. Their appointments coincided with JLL’s expansion of its Agribusiness services platform to include the asset class of rural property sales.
Suplejack Station is about 740km south of Darwin, 560km south-west of Katherine and 610km north-west of Alice Springs.
Fenced areas comprise about 130,000ha of the total area, and about 65 per cent of the landholding towards the southern and western boundary remains undeveloped.
Three sets of stock yards as well as Suplejack Homestead, one of multiple residences, are located on the developed portion of the landholding. Ancillary shedding includes a hangar adjacent to a 1200m airstrip.
Recent capital expenditure within the homestead complex includes a large solar system and battery bank, providing significant operational cost savings.
Suplejack’s water infrastructure includes 17 bores and six operational dams complementing Wilson, Goat and Birthday creeks, which traverse the landholding and provide semi-permanent sources of water.
Suplejack Station was offered for sale on a walk-in, walk-out basis – including livestock (19,002 head plus 12 months natural increase [calving]) and plant and equipment.
– ends –
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
