The article from the Australian Financial Review, titled “Cattle baron Gibson beefs up,” reports on significant developments in the Australian cattle industry. Key points from the article include:
- Acquisition of Sandringham Station: Cattle baron Mick Gibson acquired S. Kidman and Co’s Sandringham Station for $7.5 million. This station, located in Queensland’s channel country, spans over 4,500 square kilometers and was previously owned by Kidman for 105 years.
- Expansion of Cattle Production: Mick Gibson, who manages up to 50,000 head of cattle, plans to use this newly acquired land to expand his cattle production operations.
- Other Property Deals: The article also mentions a local grazier purchasing a feedlot and irrigation property near Beaudesert in south-east Queensland for $5 million. Additionally, a Melbourne investor bought a lamb and beef property in Gippsland, eastern Victoria, which was originally quoted at about $3 million.
These transactions highlight the dynamic nature of the Australian cattle industry and the significant investments being made in land and livestock. Mick Gibson’s acquisition of Sandringham Station is particularly notable for its scale and the historical significance of the property.
Read the full article here: https://www.afr.com/property/cattle-baron-gibson-beefs-up-20090601-jmx3o