This article is from the Australian Property Journal archive
THE Northern Territory Land Corporation has sold a vacant agricultural land to Duxton Farms.
The $10.25 million acquisition of the 2,386-hectare NT Portion 5088 also includes a water license with an annual limit of 8,021ML, which is valid until 2040.
The source of funding for the acquisition is proceeds from the Timberscombe’ divestment,
Duxton Farms said the acquisition of the freehold NT Portion 5088 as an integral part of its Northern Territory expansion strategy.
NT Portion 5088 is part of the Wildman Agricultural Precinct development, which encompasses approximately 26,000ha of land, located 135km east of Darwin, along Point Stuart Road.
Only NT Portion 5088 was available for sale as a freehold whilst NT Portions 2623, 2624 and 3611 are only available on long-term lease.
The Wildman Agricultural Precinct was acquired for agricultural development in the 1980s. The NT Land Corporation holds Crown Lease Perpetual 1478 over part of the former Wildman River Station.
The Wildman offering is part of the NT’s largest agricultural land release program announced back in 2021, which includes the 67,500ha Keep Plains and 5,712ha Larrimah properties.
