Although the new lease will not take effect until March, the operator will run the saleyards under a management contract for January and February.
The 10-year lease of the Greater Shepparton City Council-owned facility will include four options of five years.
The saleyards has faced declining yarding numbers in recent years, prompting the council to commission a strategic review.
The council awarded the long-term lease at its July council meeting.
RLX already operates nine saleyards, including those at Ballarat, Barnawatha and Mortlake.
New Shepparton site manager is Ty Stanton, who has been visiting Shepparton regularly in recent months to familiarise himself with the operations.
As well as having managed a saleyards between Orange and Bathurst, Mr Stanton is part of a family run Charolais stud at Rutherglen.
RLX general manager Tim Keys said the company was aiming for a seamless change-over and transition period.
Mr Keys said the operation will be maintained in the short term and would be looking to undertake changes in three key areas of safety, animal welfare and efficiency.
He said the Shepparton operation was attractive to the company because of its geographic location in a key agricultural area and its fit with existing saleyards.
RLX will undertake a transition period at the site for two months, with the new lease commencing on March 1, 2025.
City of Greater Shepparton engineering and assets manager Ben Gannon said council was looking forward to working with the new operator to ensure the best outcomes and future for the facility.
“Operations at the saleyards will continue as normal during the transition period, with Regional Livestock Exchanges committed to achieving the best outcome for the facility alongside council,” Mr Gannon said.
“The Shepparton Regional Saleyards continue to record strong sales in a competitive environment, and we look forward to this continuing through the new long-term lease.”
Asked about the delay in starting the new lease, Mr Gannon said initial approval was granted at the July 2024 council meeting to proceed with RLX as the operator.
“Since this date, the council have been negotiating the lease terms with RLX.
“Due to the long-term nature of the lease, it has taken slightly longer than expected for the lease to be signed. However, this is now expected to be completed in early January 2025.”
He said the transition period from January 1 to March 1 allowed time for the stock agents and saleyards users to work with RLX, before the new lease starts on March 1.
The current fee structure for the saleyards will continue through to March 1.
Mr Gannon said the new lease arrangement will allow the Shepparton Regional Saleyards to maintain strong sales performance within a competitive market.
“This initiative is expected to support the long-term sustainability of the saleyard for the community.
“Moreover, the Shepparton Regional Saleyards anticipates undergoing a variety of improvements in the upcoming years, aimed at enhancing operational efficiencies.”
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