RALLEN Australia has paid $70 million the Northern Territory cattle stations Tanumbirini and Forrest Hill stations.
Located near Daly Waters, south east of Darwin, the perpetual pastoral leases cover 559,370 hectares (1.38 million acre).
Rallen, a company with connections to South Africa, already owns the adjoining 376,000ha (929,116 acre) Kalala Station.
The sale remains conditional on Foreign Investment Review Board approval.
Tanumbirini and Forrest Hill have been developed in recent years with upgrades to stock water, pipelines, yards, fencing and homestead buildings.
The operation is said to have consistently carried an average of around 37,500 cattle. Further improvements this year have increased the carrying capacity to 40,000 head.
The sale follows post auction negotiations conducted by Colliers International and JLL Agribusiness.
Tanumbirini, east of Daly Waters, is located 735km south east of Darwin and has four sets of cattle yards, 38 bores, 112 tanks, and 20 turkeys nests.
Since 2012, 14 new bores and 70 tanks and piping have been developed on Tanumbirini. Some 21 new generators and three solar installations have also been installed with submersible pumps.
There are over 216 artificial water points in total plus creek systems and permanent holes. The property is fenced into 34 main paddocks. The average annual rainfall is 733mm.
Forrest Hill is located 500km south of Darwin and 180km south of Katherine and is 100km from Tanumbirini.
The property has two sets of 1500 head capacity yards. The property has 13 equipped bores, 24 tanks and five dams. It is fenced into seven main paddocks and three laneways.
Both Tanumbirini and Forrest Hill have bitumen highway frontages and homestead complexes.