Owner S Kidman & Co Ltd has put 11 million hectares (111,000 square kilometres) of land up for sale, including working units in Western Australia, Queensland and the Northern Territory.
The land has belonged to descendants of Australia’s legendary ‘cattle king’ Sir Sidney Kidman, who died in 1935, for five generations since 1899.
Only 150 people – cattle station staff – currently live on the estate, which is larger than the island of Ireland. Only heads of state, such as Queen Elizabeth II, King Salman of Saudi Arabia, and the Pope own bigger properties, Anna Creek Station alone, encompasses almost 24,000 square kilometres, more than half the size of Switzerland.
The approximately 60 members of the Kidman family, who own 98% of the shares in the unlisted public company, are selling all 10 cattle stations, including about 185,000 cattle as well as a bull breeding stud farm and a feedlot that belongs to the landholding. The family is not related to Hollywood star Nicole Kidman, according to statements to the press.
"The family have other investments they want to add to and want to realise the cash from the business”, said S Kidman & Co managing director Greg Campbell. “It is a buoyant period in the cattle industry; we are seeing the highest cattle prices in decades.”
The company is headquartered in Adelaide, and turns out an average 15,000 tonnes of carcass beef each year, supplying 1.3% of Australia’s boxed beef exports. It announced in March that it was partnering with Australian agricultural colleges to provide students with relevant skills through work placements.
The property’s sale is expected to generate more than $325m in revenue.
“We have already had significant interest in the S Kidman & Co business both from Australia and overseas,” said selling agent Don Manifold, of Ernst & Young South Australia.
It is rumoured that more than half the prospective buyers are Australian, with there being bidders from China, Britain, the US, Canada, South America, Indonesia and Switzerland as well.
First round offers will be locked in in August, and then the bidders will be narrowed down to a shortlist of six to 12 interested parties. These potential buyers will then head off to property inspections. It will take a full week and a light aircraft to see the whole estate.