Exciting New Cattle Venture
The Marra Worra Worra board has moved to“future proof” the Corporation and provide important investments in the Fitzroy Valley, aimed at supporting you, our members.
Firstly, the board plans to establish a managed investment portfolio with Perpetual Trustees and plans to invest in the IBA Real Estate Investment Trust.
Since the last AGM the board has been looking closely at alternatives to invest some of the proceeds from the Corporation’s joint venture activities.
The overriding principle here will be to invest these funds in perpetuity and to use the earnings over and above inflation to provide a sustainable cash‐flow that will allow Marra Worra Worra to fund activities that are intended to benefit the Fitzroy Valley and Marra Worra Worra’s members.
The proposed investments will include an investment portfolio to be managed by Perpetual Private, and an investment to a real estate investment trust managed by Indigenous Business Australia.
The Marra Worra Worra board intends to engage with its members to create an advisory panel that will work closely with the Marra Worra Worra board in deciding how best to direct these funds.
Marra Worra Worra also intends to take an equity stake into a newly created Aboriginal pastoral cooperative that is working to bring together under one banner a number of Aboriginal-owned cattle stations.
This is an exciting venture that has real potential to drive these cattle stations forward to greatly enhanced operational efficiencies and profitability and to create real training and employment opportunities for Aboriginal stockmen and other service providers.
And thirdly, Marra Worra Worra has also decided to re-examine the possibilities of investing in a mixed‐use residential development, this time on land near the Hardware Store.
As you would have learned in our earlier story about the Ngiyali Roadhouse, Marra Worra Worra has engaged NBC, an Aboriginal owned architectural company, to develop the concept for a proposed residential development.
The development would seek to address a critical housing shortage that is currently being faced by Marra Worra Worra’s staff and to provide additional short term housing options for corporate and other visitors to Fitzroy Crossing.
It will also provide a retail distribution facility for some of the Aboriginal owned businesses operating in the Valley.