Business News

Additional support for Kidman Station acquisition

Fractional property investment specialist DomaCom has received further crowdfunding backing from SMSF administration software provider BGL Corporate Solutions in its efforts to acquire the Kidman Station pastoral holdings.

The new commitment also includes BGL partner and online peer-to-investment community SelfWealth.

BGL’s involvement will see the organisation inform its clients about the opportunity to invest in the property.

DomaCom chief executive Arthur Naoumidis described the new partnership as a great example of innovative businesses cooperating in the financial services industry.

“Coming into the Kidman bidding six months late means a successful bid is a long shot, but with partners such as BGL and SelfWealth believing in our model and helping to promote it, we may actually succeed,” Naoumidis said.

“If we do, it will be the world’s largest successful crowdfunding campaign, quite fitting for the world’s largest cattle property.”

The potential opportunity to invest in a rural property of their choice is a unique offering DomaCom has developed.

According to BGL managing director Ron Lesh, the move demonstrated his company’s focus on innovation.

“We support innovation and DomaCom is leading the way in developing a solution that breaks down high-cost assets such as property into small chunks to give investors access to assets they normally could not buy,” Lesh said.

“The potential acquisition of Kidman Station demonstrates the scalability of the DomaCom model.”

DomaCom records indicated almost 4000 people had shown interest in investing up to $55 million to secure the vast pastoral holdings to date.

Seventeen properties and an additional three supporting properties in breeding, feedlot and cropping are included in the Kidman Station.

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