The South Africa based Langenhoven family has agreed to pay UK headquartered Thames Pastoral Company $70 million for two major Northern Territory cattle farms.
The “blue ribbon” Tanumbirini and Forrest Hill stations were listed for sale early last year on a walk-in walk-out basis.
At the time they were expected to sell for a total of about $80 million.
The cattle stations
Tanumbirini Station is the most valuable: covering 500,100 hectares (or 5001 square kilometres) at Daly Waters, about 735 kilometres south of Darwin and 420 kilometres south west of Katherine.
It cost Thames $33 million in 2012.
The vendor at the time was Sterling Buntine, said then to have a personal net worth of more than $250 million, and who controls more than 2.8 million hectares spread elsewhere across Northern Territory and in Queensland.
The Forrest Hill asset, over 53,800 hectares on the Stuart Highway, 500 kilometres south of Darwin and 180 kilometres south of Katherine, cost Thames $6.4 million in 2013.
The properties were offered with 36,400 head of cattle.
Thames also undertook major capital works on both properties throughout its ownership, including fencing, and upgrading the water and homestead infrastructure.
It is also said to have invested in cattle genetics – the company one of the largest buyers since 2014 at Katherine’s Ponderosa bull sale.
Stations make five for Langenhoven family
The cattle stations bring to five the number in the Top End which the Langenhoven family has snapped up in 20 months.
Eleven months ago it spent $58 million on the 376,000 hectare Kalala Station, near Tanumbirini Station.
According to this ABC item, the family holds significant interest in wildlife and cattle, and are known to invest in their properties.
The Langenhoven family with South African businessman Giovanni Ravazzotti also holds an interest in a kitchen and bathroom tiling business trading in Sydney.