- Coongan Station, Marble Bar
Sold price: $350,000
Sold: 12 Jul 2018
Listing number: 4065146
Opportunity to Grow - Pilbara Sub Lease 135,000 Ha (Estimate Only)
Coongan presents as an opportunity to secure a long term lease over a very productive area, the structure of the company from which the property will be leased will provide good security to a sub lessee and there is a genuine desire to have a good long term relationship.
There are no cattle included but the owners have said that they will muster prior to handing the lease over and all remaining cattle will become the property of the sub lessee. Historical mustering results would suggest that this is a property that will still produce quite a few cattle after the muster has been done. The property will virtually run itself during the wet season and due to the large amount of surface water there is virtually no danger of ever perishing cattle. Suggested potential to run around 4,000 head.
The term of the lease is long enough to be worth establishing infrastructure and all indications are that a good sub lessee will be valued and retained for an indefinite period. The initial lease is for 10 years with an option for another 10 years providing that there have been no serious breaches of the sub lease.
Expressions of Interest Closing 4pm 15th May 2018
Elders Real Estate
195 Great Eastern Highway
Belmont WA 6104