Frith family sell Neutral Junction cattle station to Bunderra Cattle Company

The Frith family have sold their 460,000ha Neutral Junction cattle station in a major deal with a Queensland cattle company.

The sprawling 460,900ha Northern Territory cattle station Neutral Junction, owned by the Frith family for 20 years, has been snapped up by a Queensland cattle company.

The Pickersgill family’s Bunderra Cattle Company purchased Neutral Junction, located 300km north of Alice Springs, in a deal worth at least $28 million.

The Central Australian prime breeding property with irrigated farming was expected to fetch between $28 million and $33 million when it hit the market earlier this year.

The sale price remains undisclosed, but it is understood Neutral Junction was purchased for a price which met expectations.

After 20 years of ownership Charlie and Liz Frith, together with their son John and his wife Angela, listed Neutral Junction for sale in March.

The Frith family own and operate the Roma-based Glen Arden Cattle Co.

The Queensland-based Bunderra Cattle Company have expanded their holdings in recent years with a series of notable farm purchases.

Cattle at the Neutral Junction station 300km north of Alice Springs.

Bunderra operate more than eight cattle stations across Queensland and the Northern Territory, including the 447,500ha Murrunji Station, near Katherine, which it purchased in 2020 for $23 million.

Bunderra last year also paid more $30 million to acquire the 17,477ha Bandana Station from Nathan Evans and Olivia Mayne in an off-market deal.

There was strong interest for Neutral Junction during the sale process with local cattle farmers, corporate and international interest for the farm.

Seven-thousand head of cattle were also included in the sale handled by Nutrien Harcourts GDL Katherine selling agent Olivia Thompson.

Neutral Junction station has 120ha under two pivots for fodder production. The fodder is used on the farm and some is sold to other farms.

Neutral Junction has run as a breeding operation for more than 100 years most recently, running a mixed herd of Droughtmaster-cross, Ultra Blacks and Santa Gertrudis.

Uniquely, 120ha of Reclaimer Rhodes grass is grown under two pivots and there is a 1654ML underground water extraction licence.

A submission for an additional 6415ML has been lodged and a decision will be granted late 2022.

This year there has been movement at the stations with Australian billionaire mining magnate Gina Rinehart selling the final two cattle stations which were part of her mammoth $300m listing.