Chinese investor take over Australian cattle empire
Kimberly Yougawalla station was sold to Hong Kong billionaire Hui Wing Mau for an undisclosed 70 million USD recently, fuelling speculation over the future direction of the property. Mr Hui’s Shimo Group, which is one of China’s most prominent property developers, has taken a swathe of prime Kimberley station lands under the deal. The purchase consists of 1,400,000ha of land covering Yougawalla station, Bulka Station, Margaret River Station, agistment leases on four neighbouring indigenous properties, and includes the 45,000 head of cattle.
Over the next two to three years, 10 million USD would be spent by the new owner on water points, fencing, cattle yards and possibly irrigated agriculture to grow fodder. The confidence in the potential of this property by Mr Hui is very encouraging, he plan to steadily increase the cattle numbers to more than 80,000 head spread across the stable of properties. The new infrastructure will significantly increase the capacity of not just Yougawalla, but increase the value of the other stations and leases as well.