Two Northern Territory cattle stations have been put up for sale, with a specific buyer in mind: companies with a large carbon footprint. If it goes ahead as planned, the estimated $100 million-plus deal is believed to be the first of its kind.
In 2022, Maryfield and Limbunya stations were bought by Sydney-based investor Sam Mitchell from WealthCheck, with AAM Investment buying the 50,000 head of cattle and entering a long-term lease to run the pastoral operations. The pastoral lease for Maryfield, 530 kilometres south-east of Darwin, sold for $38.2 million and Limbunya, 900km south-west of Darwin, sold for $65.2 million.
After registering carbon projects on the properties, Mr Mitchell is now offering for sale both the land and its potential to generate about 10.4 million Australian Carbon Credit Units (ACCUs) over 25 years.