An outback cattle station in North Queensland has been bought at auction for A$47.5 million.
The May Downs station was sold by Lord Cattle to McMillan Pastoral Company, based in Cloncurry.
This purchase is in addition to the two stations the McMillan family purchased in 2020 on the Queensland and Northern Territory border from Chinese owners for $53 million. These stations were previously owned by one of China’s richest businessmen, Xinfa Ma, who bought them in 2015.
The 223,000-hectare station was owned by the Lord family for 39 years and is 30 kilometres west of Mount Isa.
The lease backs onto Mount Isa Mines and holds 9,500 head of prime cattle.
"We were interested in presenting our property to the market and accepting the result on the day," previous owner James Lord said.
According to Stock Place Marketing Agent Luke Westaway, the station is a “quality asset”.
