General
Wave Hill Station sold to Jumbuck Pastoral, AFL boss Gill McLachlan and Reece family for $100 million
AFL CEO Gillon McLachlan and the billionaire family behind the Reece plumbing empire are silent backers of Jumbuck Pastoral’s purchase of the NT’s iconic Wave Hill Station.
Key points:
Wave Hill covers 1.25 million hectares in the Victoria River District, 750 kilometres south of Darwin, and was the site of a walk-off by Gurindji stockmen, which led to the Aboriginal Land Rights movement in the 1970s.
The sale of Wave Hill and its outstation Cattle Creek settled last week, after being in the hands of Western Grazing since 1992.
Under the transaction, the land was sold for $56 million, with the 40,000 head of cattle included reportedly bringing the total price to $104 million.
Jumbuck Pastoral is owned by the MacLachlan family from South…
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