Katherine agent sells $25millon station to former refugee

A million acre cattle station in the Territory has been sold by Katherine's LAWD real estate agent Olivia Thomson, together with Danny Thomas, for an estimated $25 million.

Prominent South Australian businessman Charlie Shahin - a former Palestinian refugee - purchased Aileron Station and Oolloo Farm, two highly regarded properties in the tightly held Anmatjere region about 130km north of Alice Springs.

Aileron covers 407,615 hectares (one million acres) of breeding country with a carrying capacity of 7750 adult equivalents.

About 6000 predominantly Droughtmaster and Angus cattle were offered with the station.

Oolloo Farm covers 1047ha (2587 acres) of which 154ha (381 acres) has centre pivot irrigation, used to produce fodder to support Aileron's cattle breeding operation.

Rich lister Mr Shahin, who holds two agricultural engineering degrees, said it was a dream come true to own the stations, and he would actively participate in developing Aileron and Oolloo Farm.

"Owning this property is a dream, a privilege, and a testament to this wonderful country, which I came to 40 years ago with my late father as Palestinian refugees from Lebanon," Mr Shahin told The Australian Financial Review.

"As Palestinian refugees living in Lebanon, we could not buy land or own property. So I will be taking an active role ... I won't be a silent owner," he said.

The properties were offered by the Melbourne-based investment group The Caason Group.

Caason bought Aileron for $10m in 2015, followed by Ooolloo for $6.1m in 2021.

The Caason Group, headquartered in Melbourne and under the stewardship of Craig Astill, has achieved organic status for the NT operations.

Split by the Stuart Highway, the large scale pastoral holding has been extensively developed with water points, additional fencing and yards as well as an improved pasture program.

Aileron Station has an "in-conversion" organic certification and is also said to offer future carbon opportunities.

The rangeland grazing country features a variety of native grasses, herbage and a coverage of buffel grass.

Improvements include a heritage listed homestead which provides accommodation for management and staff.

Oolloo Farm is a complementary 1047ha (2587 acre) property located 60km south east from Aileron.

Some 154ha have been developed with six centre pivot irrigators supported by a 3000 megalitre groundwater extraction licence and eight bores.

There is also the potential for an additional three centre pivots.

The farm is used to produce fodder for Aileron as well as being instrumental in the ongoing improved pasture program.

Structural improvements include hay and machinery sheds, a workshop and quality accommodation for management and staff.

Aileron Station and Oolloo Farm were offered for sale by LAWD as an aggregation or as separate assets on a walk in, walk out basis, including about 6,000 head of cattle, inventory, plant and equipment.

The Shahin family is best known for their On The Run service station business sold in April last year for $1.15 billion to Viva Energy.

It is Peregrine Corporation's first foray into large-scale farming although its interest include horticulture, retail, and commercial property.

Peregrine is a South Australian group of private companies and associated entities fully owned by the Shahin family.

It was established in 1984 when Fred Shahin purchased a small BP service station in Woodville Park which the family grew into 160 petrol stations and convenience stores across South Australia and Victoria.

Peregrine is now the largest private company in SA and generates revenue of more than $2 billion annually.