Regional Livestock Exchanges (RLX) has taken on a long-term lease following Corangamite Shire’s expressions of interest process. 

RLX operates saleyards in Queensland, New South Wales and Victoria. It is currently constructing the Central Victorian Livestock Exchange at Ballarat, which is due to open mid-year.

The Camperdown saleyards will be renamed the Corangamite Regional Livestock Exchange and the first sale under new management will be held on May 29.

A number of improvements are planned for the site, including upgrading to a soft-floor facility and improving water usage.

RLX business transition manager Dan Muller said the focus would be on maintaining and enhancing regular sales and expanding the range of services at the facility.

The RLX portfolio of livestock selling facilities has a current annual turnover exceeding $1 billion.

Corangamite Shire councillor and Saleyards Advisory Committee chair Simon Illingworth said the lease was a “vote of confidence”.

“Regional Livestock Exchanges has a proven track record of investing in and improving regional saleyards across Australia,” he said.

“This long-term deal means stability and security for our farmers and stock agents, who will be able to get on with the job and continue to make it a great place to do business.”

Corangamite Shire mayor Jo Beard said the lease would provide the best future for the saleyards.

“The saleyards has enormous potential and it continues to record strong sales in a competitive environment,” she said.

““I want to thank everyone who has been involved in this process for their understanding.”

In September last year the council announced it was putting the saleyards up for lease. At the time, Cr Beard said the council was “exploring some options” and looking for a private operator to take over the facility for a 15-year term.