THE Sustainable Agriculture Fund has stepped up its rural property buying campaign with the purchase of failed Great Southern company’s King Island cattle stations in the Bass Strait.
The fund paid $27 million for the four stations - Reekara, Boongarra Dinibili and Longford - totalling 6800 hectares including 6200 head of Angus cattle, reports The Australian Financial Review.
The properties were placed on the market in October after receivers McGrath Nicol took control of Great Southern when it collapsed owing bankers $600 million.
The sale also comes months after the unlisted fund spent $30 million buying several mixed farmingproperties near Moree, NSW. The $145 million wholesale fund plans to outlay about $300 million on rural properties around Australia.
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