Ranch with Cattle Sold in Australia for a Record $47.5 Million

A large cattle ranch in northwestern Queensland, Australia, has been sold. The vast ranch, with pastures covering an area of 94,168 hectares (232,694 acres), was auctioned for $47.5 million USD.

This is reported by AgroReview

Unique Features of the Farm and Ownership History

The property was owned by the Lord family for 39 years. During this time, the ranch demonstrated its efficiency and resilience: the pastures are characterized by fertile black soils, basaltic grassland soils, and the average annual rainfall is around 400 mm. To provide water for the cattle, there are 23 functioning wells on the property, and 24 dams along with an extensive drainage system support the irrigation of the pastures.

The last owners were James and Marjorie Lord, who lived on the estate and noted that they were completely satisfied with the terms of the sale.

“The couple stated that they were pleased with the sale price.”

New Owner and Additional Assets

The buyer was McMillan Pastoral Company, which manages a network of large breeding and agricultural lands across Australia. Along with the land, the new owner acquired 9,500 head of cattle. The main infrastructure includes a homestead in a picturesque location on a hill, stables, barns, and residential quarters for staff.

This auction attracted significant attention, and market representatives noted it as one of the most remarkable events in recent decades in the sale of agricultural properties.