Rural Funds Group Cobungra Station acquisition
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McCullough Robertson advised ASX-listed Rural Funds Group on its acquisition and lease of Cobungra Station, one of Victoria’s largest beef breeding enterprises.
Rural Funds Group is a real estate investment trust, with assets worth $836.7 million. The $35 million purchase raises the investment trust’s portfolio value of cattle stations to over $250 million.
We also advised the trust with respect to corporate and regulatory compliance advice concerning this transaction, and are proud to act as Rural Funds’ trusted legal adviser.
The 6486-hectare alpine beef property has been leased to Wagyu producer, Stone Axe Pastoral Company. The agreement is on a 19-year lease with a rent review in year five.