money & Banking

Danielle McCarthy

Barnaby Joyce’s difficult divorce decision

Barnaby Joyce’s difficult divorce decision

National backbencher Barnaby Joyce has revealed the tough decision he has made in the hope of freeing up cash for his divorce settlement.

The former deputy prime minister is selling his rural NSW farmland with coal-seam gas potential to fund his divorce from his wife of 25 years, Natalie.

The 1015ha land, located in Gwabegar in northern NSW, has been listed with an asking price of $878,000.

The land has a coal-seam gas exploration license held by resources company Comet Ridge.

Mr Joyce bought the land for $572,000, after joining two separate blocks together.

The politician vowed to sell the land five years ago after acknowledging the “conflict of interest” created by the petroleum exploration license.

Mr Joyce, who is selling the land through Rural Property NSW agent Michael Guest, said he was unaware of the exploration license when he purchased the land.

The property includes numerous dams, eight paddocks and has a creek that runs through it.

The politician admitted that he was selling the property for the divorce settlement.

“The unfortunate breakdown of the relationship means there has to be the necessary settlement to secure Natalie’s position,” he told The Australian.

Earlier this year, Mr Joyce made headlines across the country when it was announced that he had left his wife for former staffer Vikki Campion.

In April, Ms Campion gave birth to their son Sebastian.