Frith family to sell Neutral Junction Station with $28m-plus price tag

One of the most unique Northern Territory cattle stations is on the market, with the 460,900ha property expected to command more than $28m.

Key water rights and unique innovation are the two keys to making a Northern Territory cattle station ‘droughtproof’, despite its location at one of the driest places on Earth.

A Queensland family is selling the Neutral Junction Station, located 300km north of Alice Springs, with offers tipped to fall between $28m-$33m for the rare farm.

The 460,900ha farm has land dedicated to prime cattle breeding and grazing, while also running a hay farm on the northern end of the property.

Roma-based owners Charlie and Liz Frith, together with their son John and his wife Angela, own and operate Glen Arden Cattle Co, which has properties at Roma and Morven in Queensland and between Tennant Creek and Alice Springs in the NT.

Nutrien Harcourts Katherine selling agent Olivia Thompson said the unique nature of the station was a key to its success.

“Cropping and cattle grazing in the Northern Territory is a farming combination which has rarely been seen,” Ms Thompson said.

“This is a well-known and unique property that has a long history on the land.

“There is a lot of history on the property, with grazing starting back in the late 1800s.”

This is the first time the farm has been presented to the market in twenty years, with Ms Thompson expecting strong domestic and international interest for the Neutral Junction Station.

“A lot of people are looking for land in the Territory,” she said.

“There is a broad range of people and investors looking at this property because there is a lot of interest in cattle stations at the moment.

“The station has a really good line of cattle, there is 7000 head of cattle with some strong investments made into the genetics in the stock.”

The Neutral Junction Station has a herd of Droughtmaster-cross, Ultra Blacks and Santa Gertrudis, including 4,158 breeders/joined heifers and approximately 120 bulls.

The main station complex is located 8km from the Stuart Hwy, which provides access to live export and domestic cattle markets and domestic farm-to-farm hay sales.

Alongside the cattle operation, the warm climate creates longer growing periods and faster crop growing times with minimal pest and weed concerns.

Currently, 120ha of Reclaimer Rhodes grass is growing under two pivots with potential for crop diversification.

The crops have the capacity to produce around $1m worth of hay at current prices, with around 3000 tonnes grown each year.

The farm also holds secured rights to water entitlements for a 1,654ML underground water extraction licence.

A submission for an additional 6,415ML has been lodged and a decision will be made in late 2022.

International Expression of Interests will close Friday, March 4 at 5pm (ACST) with NBOI also due.

700,000ha of cattle grazing land near Alice Springs has also hit the market for the first time in 100 years, with a $50m price tag.