The portfolio of properties was acquired over the last three years and is now being offered through CBRE’s David Goodfellow and James Auty, with registered carbon baselines in place and strategies to maximise carbon sequestration and natural capital development over the next 25 years.
Packhorse chairman Tim Samway said, “The directors of Packhorse Pastoral will consider expressions of interest to continue the successful regenerative work the company has been undertaking on its properties. That could be with a new partner who could inject substantial new capital but equally the company would welcome interest from local landowners who may wish to acquire one property or a line of three outstanding properties and so benefit from the economies of scale.”
Spanning a total of 27,124 hectares (67,025 acres), the Packhorse portfolio includes:
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Stuart’s Creek Station (8,344 hectares), situated 50 kilometres north-west of Roma in the Maranoa region of southern Queensland;
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Moolan Downs Station (10,029 hectares), located 200 kilometres south-east of Roma in the Western Downs region of southern Queensland; and
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Ottley Station (8,371 hectares), situated 50 kilometres west of Inverell in northern NSW.
“This is a strategic portfolio of properties with very responsible and experienced management in place, which is designed to maximise the use of the expansive grasslands in a reliable rainfall area while capitalising on numerous opportunities for improved carbon sequestration,” CBRE’s Mr Goodfellow said.
“Packhorse is a recognised leader in carbon farming initiatives and the environmental initiatives at these stations are well ahead of industry norms, with clearly established carbon baselines and management practices.”
According to Packhorse, the currently registered projects are set to produce approximately 28,000 Australian carbon credit units (ACCUs) each year within five years.
“At current ACCU prices of $30 to $40, the continuation of these projects is expected to provide combined additional revenue of about $840,000 to $1,120,000 per annum to the successful purchaser/s,” Packhorse added.
The properties are available individually or collectively, which opens the door for local farmers as well as corporations and large private investors.
“We are delighted that Packhorse is willing to give both the corporate and family farming sectors equal opportunity to purchase these assets,” Mr Auty said.
Expressions of interest close on 15 December.
