Media Release 22 February 2024

Approved carbon projects add to appeal of extensive NT cattle stations

The listing of Maryfield Station and Limbunya Station, two institutional-scale cattle operations with approved carbon projects in the Northern Territory, is expected to galvanise companies seeking to secure land capable of generating significant carbon credits.

The extensive grazing and finishing properties are owned by Sam Mitchell from Sydney-based Wealthcheck and leased by AAM Investment Group, and will be offered by LAWD for separate sale through Expressions of Interest closing on Thursday, 11 April.

Maryfield Station covers 147,300ha on the edge of the Barkly Tableland along the Stuart Highway southeast of Katherine, while the 521,883ha Limbunya Station is located in the midst of the Victoria River District, towards the Western Australian border.

Mr Mitchell has gained approval for a Human Induced Regeneration of a Permanent Ever-Aged Native Forest (HIR) carbon project across both properties, a factor LAWD Senior Director, Danny Thomas, said made for a unique offering.

“This listing is a first, and with the carbon approvals in place I would anticipate a very broad cross section of interest from the market,” Mr Thomas said.

“Both of the properties are currently leased on a long-term basis to an A-grade agricultural tenant meaning there is no need for the successful bidder to find a grazing solution, providing an excellent opportunity for investors to secure access to Australian Carbon Credit Units.

“It’s estimated that Maryfield Station will generate 4.6 million ACCUs over a 25-year crediting period, while Limbunya Station is forecast to generate 5.8 million ACCUs over the same amount of time.

“Adding to the attraction is the excellent infrastructure, water and market access to support successful beef production as well as further cropping development opportunities.”

Maryfield Station

Maryfield Station has approval to generate carbon credits under the Mataranka Springs Carbon Project. The Station comprises 147,300ha with 4,900ha approved for dryland cropping and a groundwater extraction licence to enhance production through irrigation.

Annual rainfall of 857mm is complemented by 29 permanent groundwater bores equipped with solar power submersible pumps reticulating water through header tanks, troughs and catchment dams.

Currently operating as a beef cattle breeding, backgrounding and finishing operation with a carrying capacity of >15,000 AE, Maryfield features a state-of-the-art finishing and distribution facility.

Built in 2020, the complex has a capacity of 9800 head SCU and an annual throughput capacity of more than 90,000 head, depending on weight ranges and rotation duration of cattle being processed.

Excellent structural improvements and operational infrastructure on the station include machinery shedding, workshops, road train maintenance shed, airstrip, hangar, cattle yards and silos as well as residences, comprising two main homesteads and substantial accommodation for staff and seasonal workers.

Maryfield features an extensive network of paddocks and laneways enabling efficient and timely movement of cattle and reducing helicopter mustering hours.

A highlight of the property is its 36-kilometre frontage to the Stuart Highway, meaning there is direct, year-round access to Darwin and southern Australia, with further connecting highways providing access to Western Australia and Queensland.

Limbunya Station

Limbunya Station has approval to create carbon credits under the Victoria River Carbon Project. The station comprises 521,883ha and has a carrying capacity of 40,000AE, and is currently operating as a beef cattle breeding, backgrounding and finishing operation.

Limbunya has an average annual rainfall of 547mm and features a secure water supply via 54 permanent groundwater bores equipped with solar powered submersible pumps (powered by solar arrays) and reticulated through header tanks and turkeys’ nests to a network of concrete troughs, as well as 14 catchment dams.

Stirling Creek traverses the central portion of the station and is spring fed, providing permanent waterholes. This creek system integrates with a number of smaller watercourses and tributaries across the holding that generate additional seasonal waterholes.

An extensive paddock and laneway system divided into 34 main paddocks and ten holding paddocks enables the efficient movement of cattle across Limbunya Station and reduces helicopter mustering hours. A significant portion of fence lines have been replaced in recent years.

Excellent structural improvements and operational infrastructure include machinery shedding, hay shedding, workshops, a hangar, seven sets of cattle yards and substantial residential capacity, including two main residences as well as staff and seasonal worker accommodation.

Limbunya Station is situated 200km from Kununurra and 400km from Katherine, with both townships providing a range of amenities and services including retail, financial, medical, government, education (primary and secondary) and agricultural services.

Access via the Buntine Highway ensures Limbunya Station has reliable access to Darwin via the Stuart Highway and Katherine, with further major connecting highways providing access to Western Australia and Queensland.

Both Maryfield Station and Limbunya Station are For Sale by Expression of Interest closing 12pm (ACST) Thursday 11 April 2024.

For more information, please contact LAWD Senior Director, Danny Thomas, on +61 439 349 977, Director, Olivia Thomas, on 61 438 845 460, or Director, Erica Semmens, on +61 419 714 039

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