Queensland cattle farm sold by English investors to Chinese
Jonathan ChancellorDecember 7, 2020
The London based M.P. Evans Group has sold its 31,000 hectare cattle-fattening property Woodlands, near Westmar in Queensland, for $28 million to the Fucheng Group.
The sale is conditional on Foreign Investment Review Board approval.
The group's core strategy is to continue to expand its oil-palm areas in Indonesia, in a sustainable and cost-effective manner.
Its statement to the London Stock Exchange, M.P. Evans, advised its board determined some time ago, for strategic reasons, to sell Woodlands but significant interest in the property had only developed in recent months further to the sharp strengthening of the cattle market.
Woodlands reported a farm profit for the year ended 31 December 2014 of US$0.2 million.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.