Cattle on Murranji Station, south of Katherine

 Australia’s largest private landowner Viv Oldfield has paid $44 million for the Northern Territory’s Murranji Station.

The 447,700ha holding, 90km north-west of Elliot and 370km south of Katherine, adjoins Newcastle Waters to the east and Dungowan to the west.

The property was listed earlier this year by Central Queensland’s Bunderra Cattle Co, prompted by a restructuring of the Pickersgill family business and succession planning.

Andrew Gray Land & Livestock agent Andrew Gray and JLL Agribusiness agents Geoff Warriner and Chris Holgar were unable to disclose the buyer or the price paid.

However according to the NT Land Titles Office, Murranji sold to Mr Oldfield for $44 million bare. Separately negotiated was 20,000 head of cattle, of which 14,000 were breeders.

Today, Mr Oldfield controls more than 9.6 million hectares of land across 15 holdings in the Northern Territory, Western Australia and South Australia. It is unclear whether some may still be held under joint ownership with his business partner Donny Costello.

Murranji

In 2020, the Pickersgill’s Bunderra business targeted the NT for expansion and purchased the well-improved Murranji for $23 million including 12,500 cattle.

The station was used as a breeding operation to feed into Bunderra’s finishing and backgrounding business in Central Queensland.

The productive black and grey clays and red sandy loams grow Mitchell, Flinders and spinifex grasses, along with other native species and a variety of seasonal herbage.

Murranji is fully enclosed by boundary fencing and internally divided into 32 main grazing paddocks, with an additional 35 holding paddocks and watering squares, along with an internal laneway system.

Water is supplied by 38 bores and distributed by 216km of poly pipe.

During their five-year ownership, the Pickersgills undertook extensive improvements including new fencing and laneways, installing a further seven cattle yards and an additional 10 bores.

Oldfield/Costello

In November 2022, Viv Oldfield and Donny Costello paid more than $70m on a walk-in walk-out basis including 18,000 head of cattle for the 733,700ha Mt Doreen Station, one of the largest Certified Organic cattle stations in Central Australia.

In 2021, the prominent pair overtook Gina Rinehart to become Australia’s biggest landholders – at the time owning 14 properties spanning close to 9.5 million hectares in Western Australia, the Northern Territory and South Australia.

As part of that transition, the same year, the pair paid around $70m (including 25,000 head of cattle) for Hancock Agriculture’s 480,000ha Ruby Plains Station and 316,000ha outstation, Sturt Creek situated in the Kimberley region of Western Australia.

They also paid an undisclosed sum for Kidman’s 3500ha Phoenix Park live export depot and holding facility, 1.1m ha Macumba and 1.355m ha Innamincka Stations, in South Australia’s north-east.

In 2020, the 324,400ha Maryvale Station, 107km south of Alice Springs, was added to Crown Point Pastoral’s extensive landholdings in Central Australia. The $15m sale included 10,000 head of cattle. Maryvale is adjacent to the pair’s 164,100ha Deep Well Station, 60km south-east of Alice Springs.

Mr Oldfield and Mr Costello jointly own the 324,000ha Lilla Creek Station on the SA/NT border, the 1,050,000ha Andado Station (situated on the western edge of the Simpson Desert), the 593,600ha Horseshoe Bend Station (160km from Alice Springs) and 615,800ha New Crown Station (460km south of Alice Springs).

In 2018, they secured the 16,500sq km Clifton Hills Station, Australia’s second largest cattle property, located in South Australia’s north-east corner. At the time, it was suggested the pair paid around $45m to $50m including 21,500 head of cattle. They also own the 662,500ha Pandie Pandie Station that neighbours Clifton Hills.

Neutral Junction Station

Meantime, the Pickersgill family’s beef breeding and farming opportunity Neutral Junction, located five hours from Murranji, remains listed for sale.

The 460,900ha holding is located near Barrow Creek, 150km south of Tennant Creek and 300km north of Alice Springs.

The country comprises mostly sandy loam soils with improved buffel and natural grasses that back on to picturesque mountain ranges. Due to the area’s naturally rich, pest free environment, the station is well positioned to produce high quality, chemical free, healthy cattle.

Around 100km of the Stuart Highway runs through the centre of the property providing reliable all-season access.

Established in 1907 and grazed since 1884, Neutral Junction is being sold with around 5400 breeders plus followers.

In addition to the 25 equipped bores, 20 water tanks, 10 turkey nests and five dams, a 1654ML underground water extraction licence feeds two centre pivots spanning 120ha of reclaimer Rhodes grass.

An application for an additional, substantial water licence is yet to be granted. This would give the property strong potential for diversification into cropping.

Income is also generated from the general store, and the power and water contracts which service the local community.

Infrastructure includes a four-bedroom homestead, staff accommodation, a two-bedroom cottage, two steel cattle yards and numerous sheds.