Mark Scherrer, who founded aerospace equipment manufacturer Ferra Engineering, has spent $12.5m on a 769ha of land in Scott River.
UK-based Australian businessman Mark Sherrer has bought a 769-hectare parcel of land near Augusta for $12.5 million, adding to his property assets in Australia.
Mr Sherrer, who founded aerospace equipment manufacturer Ferra Engineering in Brisbane more than 30 years ago, bought 2127 Scott River Road in Scott River late last year.
The land, 300km south of Perth, was purchased from Myra Claire Ellen Paci and Ellen Arabelle Hufbauer, RP data records show.
The property is bordered by Hardy Inlet in the Scott River to the north and the Indian Ocean to the south and is currently zoned for agricultural use.
Mr Sherrer made the purchase via S.M.J Enterprises, which he is the sole shareholder of.
The entity has directors in Brisbane and Switzerland.
The purchase follows Mr Scherrer’s acquisition of more than 1,100ha of land on the Eyre Peninsula in South Australia last year.
Mr Scherrer reportedly sold Ferra Engineering, which manufactures weapons bay adapters for American fighter jets, for $350 million in 2022.