Rural Funds Management (ASX:RFM) - manager for the Rural Funds Group (ASX:RFF), has entered into a contract to acquire a cattle property in central Queensland.
The purchase price of $15.7m will be debt funded.
Comanche is a 7,600 hectare property suited to both breeding and backgrounding cattle.
The property offers opportunities for productivity enhancements similar to those proven on Rewan – a central Queensland cattle property acquired by RFF in July 2016.
Rural Funds Group (ASX:RFF) owns a diversified portfolio of high quality Australian agricultural assets.
Shares in Rural Funds Group (ASX:RFF) are up 0.5% to $2.02