Camm Agricultural Group Sale and lease back of beef properties
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McCullough Robertson’s Corporate Advisory team has advised Camm Agricultural Group (CAG) on the sale and lease back of three cattle properties in North Queensland, spanning 390,600ha.
The significant deal includes $53 million for the properties, $15 million in cattle and mortgage financing, $2.5 million to invest in farm improvements and a $2 million performance fee if pre-agreed “development points” were achieved by the end of next year.
CAG (owned by well-known beef producers, the Camm family) will keep the management of the stations, leasing the properties from Rural Funds for a period of 10 years.
Australia’s largest diversified agribusiness trust Rural Funds has identified development opportunities to increase the carrying capacity of the properties and will provide a $5 million livestock lease facility allowing CAG to acquire cattle, with the trust to own them.