ELDERS Ltd has been appointed by Jumbuck Pastoral to sell what is being touted as the largest contiguous sheep station in Australia — an aggregation of three pastoral stations spanning 1,289,700 hectares.

Elders said the aggregation of Commonwealth Hill 533,100 hectares, Mobella 426,600ha and Bulgunnia 310,000ha, has the prescribed capacity to carry over 83,300 sheep.

The aggregation is located in a core sheep-producing district of South Australia’s Far North pastoral zone, supporting large-scale, low-input Merino enterprises with demonstrated long-term resilience and strategic highway access, Elders said.

The properties will be offered as a whole and in parts on a walk-in walk-out basis, including a significant Merino sheep flock. The sale process will commence in mid-May.

The fourth generation Australian family-owned agricultural company Jumbuck Pastoral is owned by Hugh MacLachlan and has been managed for three years by daughters Airlie MacLachlan, Islay McKenzie and Brooke Yates.

In September 2023, after having spent of their working lives with Jumbuck, brothers Jock and Callum stepped down as joint managing directors after 14 years at the helm.

MacLachlan family succession process continues

Jumbuck Pastoral today said the aggregation divestment is part of a restructure of its agricultural assets as it moves to set up for future generations.

MacLachlan siblings Airlie, Jock, Islay, Brooke, and Callum today jointly announced the transition from a family-owned portfolio of pastoral assets to independent sibling-run enterprises.

“We are so grateful to our parents who have given us the opportunity to live and work on the land and to play our role in the future of Australian agriculture.

“Now, it’s time to make sure we can do the same not just for our children but for future generations to come,” Airlie MacLachlan said.

“This is the next chapter of our family story that started back in 1888 – we’re united in our commitment to make sure we meet the needs of future generations as the family continues to grow.”

The remaining portfolio of 10 pastoral assets will be shared within the family.

“We’ve worked really hard together in undertaking a deep succession planning process and while that hasn’t always been easy, we’re all really respectful and supportive of what’s been achieved,” Callum MacLachlan said.

“We’re acutely mindful of honoring our wonderful family heritage, while also ensuring the next generations have an opportunity to play a role, both now and well into the future.”

Jock MacLachlan said it was also an important time to acknowledge the incredible staff across all stations and offices, both now and over the last seven decades, whose loyalty, dedication, and friendship has helped build the Jumbuck business to what it is today.

The sibling run enterprises will be as follows: Airlie MacLachlan- Glen Devon South; Jock MacLachlan – Meda, McCoys Well and Glen Devon North; Islay MacKenzie- Gunbar and Mulgathing; Brooke Yates – Blina and Mt Victor, and; Callum McLachlan will take on Jumbuck’s interests in Killarney/Wave Hill and Springfield.

Interest expected from large investors

Elders said the aggregation spans an area that is larger than more than forty sovereign nations around the world.

Elders Real Estate chief executive officer Tom Russo said given the strategic advantages and efficiencies that can be achieved by operating an enterprise at this scale, the agency anticipated receiving offers from both large private and corporate investors within Australia and internationally.

“Having said that, we will be running a flexible expression of interest process that will accommodate bids on single stations or the entire aggregation, thereby providing the opportunity for a large range of interested parties to participate in the process.”

He said the offering represents a rare opportunity to acquire Australia’s largest contiguous sheep station aggregation during a period of unprecedented growth in demand for quality Australian fibre and protein.

“These assets offer exposure to globally relevant production. Global sheep meat export volumes have grown faster than overall production over the last decade, resulting in rising reliance on international trade and reinforcing Australia’s role as a key exporter, he said.

“Investing now to participate in the response to this ever growing demand is a compelling opportunity, especially when it Is anchored by quality and finite real assets,” he said.

Elders said the aggregation is being offered to the market in the context of excellent seasonal and market conditions. The country is well managed and has benefited from recent favorable seasonal conditions, currently offering an abundance of feed, the agency said.

The Australian wool market is in its strongest position for many years and current low inventory and stronger processor demand suggests that the market can hold materially above long term averages moving forward. In addition, sheep meat prices remain historically strong at near record levels, Elders said.

Elders said Jumbuck Pastoral was established in 1888 and is one of the largest livestock production enterprises in Australia. The aggregation has been held by Jumbuck since the 1940’s and the sale is being undertaken as part of an orderly succession planning process being conducted by the family.

Mr Russo said the portfolio of pastoral assets that has been acquired by Jumbuck nationally over many years of sustained investment is truly extraordinary.

“The decision to divest some of that portfolio is clearly one that is not taken lightly in the context of such a storied and much admired dynasty.

“That said, the time has come to undertake this restructure and set the platform for the next chapter of that story,” he said.