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Longreach Regional Council has secured the future of the Dick Law Municipal Saleyards Complex today by agreeing on a long-term lease for the operation and advancement of the facility.

Following an open tender process, Council is signing an agreement with AAM Investment Group (AAMIG), who will commit to the long term development of the facility.

The 30 year lease will see AAMIG operate the Saleyards as well as invest in capital improvements to upgrade the facility to modern day standards.

Council identified the revival of the Saleyards as a priority in its Economic Development Strategy adopted last year. It is hoped the new partnership, along with initiatives such as Council’s innovative $17.9M Longreach Wild Dog Exclusion Fence Scheme, will be the catalyst for a reversal of fortune in the agricultural sector that underpins the regional economy.

Longreach Regional Council Mayor, Councillor Ed Warren, said the deal would bring significant economic benefits to the community.

“The Saleyards are a vital economic driver for our region – it’s important they get the attention they deserve so we can maximize their potential. That’s what this new arrangement is all about – delivering jobs and prosperity to our region.”

He said it was AAMIG’s expertise and capacity to develop the facility that meant their tender bid was successful.

“They have the know-how and resources to really get the facility buzzing again. That’s what’s needed out there, particularly now there’s a prospect of sales recommencing.”

AAMIG, based in Brisbane, currently operates a portfolio of agricultural assets that process over 1,050,000 cattle and 2.3 million sheep representing a total turnover in excess of $1.3 billion per annum.

AAMIG Managing Director Garry Edwards said the company was looking forward to developing the Longreach Saleyards into a regional facility Western Queensland can be proud of.

“We think this site has enormous potential going forward and we look forward to working with the industry in Western Queensland to develop it.

“The facility is in a strategic regional location and with the right investment, improved operational processes and the support from the regions livestock producers and agents it will have a very bright future.”

AAMIG is keen to commence discussions around the future plans for the facility with the regions livestock agents and key users of the facility. Mr Edwards said “facilities such as the Longreach Saleyards thrive when all interested parties work collaboratively together to achieve a common goal.”

“We all want to see this facility grow and succeed” he told reporters. “We’re confident we can deliver great results for the region’s livestock industry.”