{
  "id": 5220761,
  "title": "British-backed CPC buys another NT station for $47.4m",
  "url": "https://urgent.news/2026/09/03/british-backed-cpc-buys-another-nt-station-for-47-4m",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T01:56:56.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-09-03/cpc-buys-vermelha-station-and-gets-more-water-for-irrigation/107038822"
  },
  "original_language": "en",
  "account": "British-backed Consolidated Pastoral Company (CPC) has acquired Vermelha Station in the Northern Territory for $47.4 million. This deal includes a 2,956-megalitre water licence and over 15,000 cattle. The 204,000-hectare station, located near Larrimah, 500 kilometers south of Darwin, was previously owned by Vietnamese investors since 2016. CPC, owned by British billionaires Guy and Julia Hands, has been expanding its property portfolio in Australia with acquisitions such as the Beetaloo Aggregation for over $300 million and the largest sheep station in Western Australia, Rawlinna. The company now owns more than 18,000ML of groundwater licences across the Northern Territory. CPC's CEO, Troy Setter, plans to use the water licence at Vermelha, along with other water licences, to irrigate crops for cattle. The station currently has a 45-hectare pivot irrigator and 60 hectares of cleared land, with a clearing permit for an additional 3,659 hectares.",
  "summary": "Consolidated Pastoral Company has bought Vermelha Station in the Northern Territory for $47.4 million, which includes a water licence for 2,956ML.",
  "key_points": [
    "CPC buys Vermelha Station in Northern Territory for $47.4 million",
    "Station includes 2,956-megalitre water licence and 15,000 cattle",
    "CPC CEO plans to irrigate crops using Vermelha's water licence"
  ],
  "editors_take": "This acquisition expands CPC's Northern Territory portfolio and irrigation capacity, solidifying its position as a major player in Australia's pastoral industry with over 18,000ML of groundwater licences.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}