Camm Agricultural Group Sale and lease back of beef properties
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.