Rinehart sells Nerrima Station for $30m

Gina Rinehart’s West Kimberley station Nerrima has sold for more than $30 million, as well as two additional pastoral stations Ruby Plains and Sturt Creek for an undiscolsed sum. 

The sale of Nerrima, a 203,000 hectare cattle station near the Fitzroy River, and adjoining stations Ruby Plains and Sturt Creek were confirmed today.

Nerrima, 130km south-east of Derby, sold for more than $30 million.

The sale price of 480,859ha Ruby Plains and 315,275ha Sturt Creek was unconfirmed, but it is understood they were sold as one transaction.

The properties were owned by Mrs Rinehart’s Hancock Agriculture and were negotiated via Elders Real Estate.

Elders Real Estate agent Greg Smith said he was seeing strong interest in the agricultural sector this year.

“The agriculture sector is very buoyant at the moment,” he said.

“We’ve got a period where we have had very strong commodity prices for a few years and people are looking to consolidate and further invest, and the last season have been terrific.”

Hancock Agriculture is also selling Northern Territory feedlot Phoenix Park (3,400ha), and NT stations Willeroo (171,000ha) and Riveren (555,400ha) and Aroona (147,500ha).

The sales are subject to approval from the Pastoral Lands Board.