British firm CPC purchases Vermelha Station for $47.4 million in Northern Territory

British-owned Consolidated Pastoral Company (CPC) completed the purchase of Vermelha Station in the Northern Territory for $47.4 million. The deal includes approximately 15,000 head of cattle and a permanent water licence allowing 2,956 megalitres of groundwater use per year. This transaction is understood to be recorded in documents from the NT Land Titles Office. CPC currently holds over 18,000 megalitres of groundwater licences in the Northern Territory. The 204,000-hectare property is situated near Larrimah, approximately 500 kilometres south of Darwin. Vermelha has been owned by Vietnamese investors since 2016. CPC was established by billionaires Guy and Julia Hands. The company has expanded its holdings recently, including the acquisition of Australia's largest sheep station in Western Australia and properties totaling more than $300 million in the Northern Territory. CPC states its total asset base exceeds $1.7 billion across over 6 million hectares of land. Its operations currently include more than 400,000 head of cattle, 50,000 goats, and 150,000 sheep, supplemented by feedlot facilities in Indonesia.