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 NT: Sturt Downs—67,840 hectares gone to foreigners, $6.8m

07.11.19. Another day, another farm gone to foreigners who obviously see a good return for their money. Sturt Downs has an average rainfall of 1,000 millimetres, has seven bores and surface water spread across the property. About 1,000 head of cattle were included in the sale. It appears that the only person sitting in our Houses of Parliament presently that had ap[olicy more than two decades ago to stop the sell-off of Australia was and still is Pauline Hanson. So much for all those bastards charged with the stewardship of Australia which are nothing  more than liquidators!
An Argentinian agricultural company has bought a cattle station near Katherine for $6.8 million, the third Northern Territory property purchase it has made this year. Cross Pacific Investments, which is backed by the Buratovich family, has bought the 67,840 hectare Sturt Downs Station, along with around 1,000 head of cattle, plant and equipment.Source: ABC RuralArgentinian cropping company buys Northern Territory cattle station Sturt Downs for $6.8 million

In June the company bought Manbulloo Station, which backs onto Sturt Downs, and in Augustpurchased Scott Creek Station, on Manbulloo’s western boundary.
Cross Pacific Investments has now spent more than $43 million on Top End land in the last few months, totalling just over 540,000 hectares, according to documents from the NT Land Titles Office.
The Buratovich family is involved in broadacre cropping projects across Argentina, Uruguay, Brazil and the US, producing wheat, barley, peas, lentils, sorghum and cotton.
Elders agent Alison Ross said Sturt Downs’ crown lease tenure was a rarity in the Northern Territory, which had made it attractive to purchasers.
“Crown lease allows for other uses of hay, pasture development or other forms of agriculture, so it does make it a lot easier to do different uses,” Ms Ross said.
“Obviously non-pastoral uses have come in over the past few years, making pastoral leases more flexible … however the length of time to get your non-pastoral use agreements can take a [while].
“The owners have run up to around 5,000 head of cattle there over the past few years, so there is certainly scope for further development for anyone coming in wanting to expand their herd or further development.”
An investor who knows ‘a hell of a lot about farming’
Cattle industry veteran David Warriner, who is a director of Cross Pacific Investments, said the Buratovich family was looking across the world for opportunities to “buy land, develop it and farm it”.
He said there was still a lot of work to be done, but the company felt there were opportunities to grow crops on all three of its NT stations.
“I think we have an investor here who knows a hell of a lot about farming in difficult environments,” Mr Warriner said.
“The NT [is] maybe about to learn a lot. They are patient, will learn the local nuances, and have the capacity to do stuff.
“The NT must positively support good quality large scale developments for our own economic well being.”
NT Cattlemen’s Association CEO, Ashley Manicaros said he supported the purchase and the company’s interest in cropping.
“I understand there’s interest there to intensify the pastoral property, so not just focussing on cattle, but looking at other opportunities as well, and we would welcome that,” he said.
“We think the Northern Territory’s cattle industry benefits enormously from this type of intensification because of the by-products that can possibly be produced.”

{ 2 comments… add one }
  • DT 07/11/2019, 8:25 am

    “NT Cattlemen’s Association CEO, Ashley Manicaros said he supported the purchase and the company’s interest in cropping.”

    Despite concerns about foreign investment they own less than 13 per cent of all rural holdings in Australia with the US and the UK now the top two sources of investors.

  • Disgruntled 07/11/2019, 1:26 pm

    I do not believe that this investment will be a bad thing for N. T. or Australia as a whole. I am far more at ease with this type of investment. It would appear that these people are going to have a big go, with a whole lot of development going to happen, which will be good for the whole area around this purchase. It really cannot be bad!

    Pauline Hanson is mentioned in the article as if she would be against it. Now not all overseas purchases are good as well as not all are bad, I hope that this one will be one of the good ones and it seems as it has the potential to be good. Ask Pauline and I would think she would be supportive.

    What is desperately needed for decent development in the far regions is money, more money, enthusiasm and real determination which this one appears to have. If they can make it work it should be good.

    I sure do not go along with some purchases that are already fully developed with owners being very far removed from the properties and only just “using” the purchase for spurious reasons!!! You Know what I mean!!!!!!

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