OTR billionaire expands pastoral empire
The Shahin family has expanded its agricultural interests, acquiring Australia’s largest contiguous sheep station from pastoral dynasty Jumbuck as the MacLachlan family continues the restructure its 138-year-old grazing empire.
Via the Adelaide-based family’s private investment vehicle, ATAYF Group, it is speculated to be paying around $40 million for the 1.29 million-hectare Jumbuck North West Pastoral Aggregation in South Australia’s Far North.
Comprising Bulgunnia, Commonwealth Hill and Mobella stations, at Kingoonya, it carries a Merino flock of about 53,333 head, including 37,547 breeding ewes.
The dry sheep equivalent is 83,300.
The average rainfall is 150-180mm a year.
The MacLachlan family offered it in May on a walk-in-walk-out basis.
“Sophisticated investors continue to have strong conviction in the long-term future of Australian food and fibre production,” Elders Tom Russo, who brokered the deal with Philip Keen, said.
“Global demand for our products will continue to grow as middle classes expand and prosper. Investing now to participate in the supply response is an enormous opportunity,” he added.
“The successful sale of the…Jumbuck North West Pastoral Aggregation…reinforces the enduring appeal of large-scale, high-quality agricultural assets,” according to the executive.
“I’m pleased to see the stewardship of these iconic properties pass from one highly respected South Australian family to another.
“The MacLachlan family’s legacy of pastoral excellence will continue under owners with a similarly long-term vision and passion for agriculture” (continues below).
Kingoonya is about 640 kilometres north-west of Adelaide.
End of a 138-year era
The sale forms part of a succession plan unveiled earlier this year by the MacLachlan family which has owned Jumbuck since 1888.
Rather than selling the business, the family is dividing its pastoral holdings among the next generation.
Bulgunnia, Commonwealth Hill and Mobella were earmarked for divestment while other stations remain – including Blina, Glen Devon Gunbar and Mulgathing – within separate family-controlled enterprises.
The transaction marks a rare transfer of a major pastoral holding between two prominent South Australian business families.
The acquisition adds to Professor Khalil (Charlie) Shahin’s growing rural portfolio following last year’s purchase of Aileron Station in the Northern Territory.
It also marks another major deployment of capital after the Shahin family’s sale of the OTR convenience retail business to Viva Energy in 2024, a deal initially valued at $1.15 billion rising to $1.215b after adjustments, reflecting business growth/new stores between signing and completion.
Also today we are reporting the Shahin family banked $12.1 million from a new Sydney service station.
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