Douglas West is being sold by the Tipperary Group. Photo: CropScale Australia

DOUGLAS West, part of the Tipperary Group’s Northern Territory holdings, has returned to the market after reportedly selling to CropScale 12 months ago.

In March last year, farm management and investment group CropScale Australia announced it was acquiring the property, promising to operate regenerative agricultural and pastoral activities to ‘bring significant technology and benefits to the Northern Territory, and north Australia’s agricultural industry.’

Newly registered at the time of the announcement, CropScale Australia had previously operated as Territory Harvest and was financially supported by Copellian Ventures, an Australian company owned by a UK-based group.

The deal failed to transact, but the Australian Securities and Investments Commission’s (ASIC) database currently lists CropScale’s principal place of residence as Douglas West.

It now throws into doubt claims made by CropScale that Tipperary Group chairman Allan Myers was “impressed with the company’s data-driven and disciplined approach and sustainable practices, as well as its ability to add value to NT’s agricultural industry.” 

Sue Brosnan from Tanami Rural Property confirmed this, telling Grain Central, the information released by CropScale regarding the purchase of Douglas West was both “inappropriate and incorrect.” 

The 42,300ha property is located 166km south of Darwin and while its highest and best use is cattle production, Douglas West is also suited to dryland and irrigated cropping (cotton, corn and sorghum).

It once formed part of Douglas Station which was subdivided by the Tipperary Group into Douglas, Douglas South (both since sold) and Douglas West.

The reasonably undeveloped block is carrying a significant volume of native and improved pastures, offering potential for further development.

It has abundant natural water with significant underground aquifers and permanent and semi-permanent above ground springs.

During its ownership, the Tipperary Group applied for and was granted a clearing permit for Douglas West.

As a result, significant clearing has been undertaken, and the property’s Pastoral Term Lease tenure has been converted to Perpetual Pastoral Lease tenure.

Tipperary Group of Stations

The Tipperary Group is owned and operated by the Booloomani Corporation (a group of strategic investors) and Branir Pty Ltd (owned by prominent barrister and businessman Allan Myers QC AC).

It owns the neighbouring 209,842ha Tipperary East and West and the adjoining 133,859ha Litchfield.

Over the past five years, the group has invested significant funds into the development of Tipperary Station through dryland cotton, with production rising from 150ha to around 5000ha, with the aim to achieve 10,000ha. 

The group has also invested around $80m into wholly owning and building the new cotton processing facility (Cotton Gin) near Katherine.

Ms Brosnan said with the gin about to enter its second year of processing, the Tipperary Group is investing further into its current land assets.

“A decision was made to release the Douglas West pastoral lease to the open market as an opportunity for a potential purchaser to further develop.”

With recent sales achieving between $15m to $20m, Ms Brosnan believes Douglas West Station compares favourably.

“There has been good initial inquiry from a wide range of interested parties – typically, those looking at investing in cattle and cropping or carbon farming – from international and domestic investors, existing pastoral companies to local producers.”

Douglas West is being offered for sale via expressions of interest closing on May 30.