For Peter and Shari Knudsen the success of their cattle grazing business, a 65,000-acre property and 3,000-cow operation of Santa Gertrudis and Wagyu, is based on a great partnership with each other – and with BOQ Agribusiness.
Find your Agribusiness ManagerAccording to Peter and Shari, their relationship with BOQ and Senior Agribusiness Manager, Ian Mills feels “more like a partnership than just ringing the bank manager.”
Peter and Shari started banking with BOQ in 2017 citing that “it was one of the better deals we could have got at the time” as the main reason for switching banks.
“We had been with our previous bank for a long time because we’re very loyal, but there were reasons for us to look elsewhere. As part of our succession planning process we realised we needed to find a better deal and that’s how we ended up with BOQ,” Peter said.
Since then, Ian and BOQ Agribusiness have supported Peter and Shari during the extreme drought of 2019 and the recent acquisition of ‘Mt Lonsdale’ – a 20,000-acre property located in the Western Downs region of Queensland.
“We purchased the property prior to auction so needed a quick turnaround on approvals, which BOQ were able to do. Nothing was ever a drama,” Peter said.
In addition to ‘Coondarra’ and ‘Mt Lonsdale’, Peter and Shari also own two other quality finishing properties in the Taroom/ Wandoan district.
With a focus on moving across from Santa Gertrudis to breeding Wagyu to produce better quality beef and the ‘Mt Lonsdale’ purchase, Peter and Shari’s plans are to ensure the financial future of the business for their teenage children, Hayley and Mac.
“We appreciated the start we got from our families and wouldn’t be where we are without them. Now we want to be able to set our children up and purchasing ‘Mt Lonsdale’ has helped to increase our breeder herd,” Peter and Shari said.
You need to find someone who knits with you, understands your business, believes in what you are doing and is prepared to work with you and back you – in good times and bad.
Livestock has been in the family’s blood since Peter’s grandfather, Hans Knudsen, first set up camp on the creek bed 20 kilometres from where ‘Coondarra’ now is, built the original homestead and started raising cattle over 75 years ago.
Knowing that their legacy will depend on being able to survive the tough times that come with variable seasons, Peter and Shari said that having BOQ’s backing during the drought has been vital.
“In the middle of a drought, you don’t have the normal income and cash flow. And on top of no money coming in, it’s going out faster than you like. With BOQ’s support we didn’t have the additional worry of the bank not being behind you. Instead, Ian understood the pressures we were under and said, ‘do whatever you need to do, and we’ll back you’”, said Peter.
With over 30 years’ experience working with agribusinesses across Queensland, Ian’s in-depth understanding of the industry has given Peter and Shari a level of trust that they haven’t had in dealing with other banks.
“You need to find someone who knits with you, understands your business, believes in what you are doing and is prepared to work with you and back you – in good times and bad. Unlike other bank managers we’ve dealt with, Ian offers his opinion but leaves us to make the decision because we’re the ones running the business,” Peter said.
