$40m cattle station resells for $26m after planned carbon project falls through
A large Australian cattle station has seen its market value drop significantly after a planned carbon credit project failed to materialize. The decline highlights the volatility of the carbon farming market and the impact of regulatory delays on land investment.
Why it matters
This case illustrates the financial risks associated with speculative environmental investments and the importance of stable government policy in the green economy.
A huge cattle station in Australia’s Northern Territory, bought for A$40 million during the height of the carbon farming boom, has been resold for A$26 million after plans for a major environmental project fell apart. Benmara Station, a 451,176-hectare pastoral property on the Barkly Tableland near the Queensland border, has changed hands after its value fell sharply. According to ABC News, the 35 per cent drop in price shows how Australia’s northern pastoral property market is adjusting after corporate buyers once paid high prices for land with carbon offset potential. The property was bought in May 2023 by Sydney-based agricultural investment firm Wealthcheck, managed by Sam Mitchell, in partnership with global energy trader Hartree Partners. Real estate company LAWD negotiated the off-market deal, which involved the sale of the property without livestock.
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