Billionaire Adelaide businessman Charlie Shahin has acquired Australia’s largest contiguous sheep station aggregation in South Australia’s far north-west for an undisclosed sum. The massive 1.29-million-hectare property deal marks the end of an era for the historic MacLachlan farming dynasty following a two-month market campaign.
A Mega-Aggregation Crossing Three Outposts
The sprawling transaction encompasses Commonwealth Hill, Mobella, and Bulgunnia, three neighbouring pastoral leases situated across South Australia’s arid far north-west. Together, the properties span nearly 1.3 million hectares of traditional merino country capable of supporting more than 83,300 sheep. The 310,000-hectare Bulgunnia station alone sits roughly a two-hour drive from Coober Pedy, underscoring the sheer scale of the remote holdings.
Elders Real Estate chief executive Tom Russo, who oversaw the transaction, noted the sheer magnitude of the offering. The portfolio represented some of the largest sheep productions ever offered to the market
, according to Mr Russo’s interview with the SA’s Country Hour. The negotiation process drew significant domestic and international corporate interest alongside competing bids from established local pastoral families running the ruler over the assets.
The MacLachlan Family Succession Plan
The sale brings a definitive close to a chapter for Jumbuck Pastoral, an agricultural enterprise with roots extending back nearly 140 years. Operated by the MacLachlan family, the company historically managed a pastoral empire spanning South Australia, Western Australia, and New South Wales. A fourth adjoining station, Mulgathing, was excluded from the transaction and remains outside the sale.
Mr Russo explained that the divestment formed part of a broader, proactive generational transition for the long-standing farming dynasty. Jumbuck Pastoral released a company-wide newsletter acknowledging that the choice had not been made lightly
.
“Like all families, there comes a point in time where succession planning needs to be done and … they’ve divested a few stations now. We can see now that that’s the end of that … and the group [Jumbuck Pastoral] … is now divided up between the siblings and they’ll continue to run individual assets themselves and get on with creating their own legacies.”
Tom Russo, Elders Real Estate chief executive
From Convenience Store Tycoon to Pastoralist
The buyer, Charlie Shahin, belongs to a prominent Adelaide business family with a combined wealth estimated at $1.93 billion. The family immigrated to Australia as Palestinian refugees during the 1980s. Fred Shahin established the business foundation in 1984 by purchasing a single service station, which grew into the Peregrine Corporation and the On The Run (OTR) petrol station and convenience store network.
Following the OTR divestment, Mr Shahin shifted focus toward large-scale primary production through the business group ATAYF, comprising Mr Shahin, his wife, and his daughters. The family purchased the 408,000-hectare Aileron Station cattle property in the Northern Territory in 2024.
Mr Russo observed that Mr Shahin acted quickly and decisively during negotiations. Having studied agronomy, Mr Shahin maintained a lifelong ambition to own agricultural operations. While the new owner intends to maintain the properties as an active sheep station, Mr Russo thinks we can probably see an enterprise change in terms of perhaps some dorpers into the production mix.
Future Outlook for the Australian Wool Industry
In an official statement released via Elders on Mr Shahin’s behalf, the ATAYF chairman characterized the acquisition as a strategic, multi-generational commitment. The group aims to safeguard existing operations while investing in the long-term resilience of the outback enterprise.
“This acquisition is a long-term family investment. We intend to build on the foundations established by Jumbuck, support the existing operations and continue investing in the productivity and resilience of the enterprise for future generations. We have great confidence in the future of the Australian sheep and wool industry. Demand for high-quality natural fibre and premium protein continues to grow globally and Australia remains uniquely positioned to meet that demand.”
Charlie Shahin, ATAYF chairman
The Jumbuck North West Pastoral Aggregation historically relied on a workforce of 23 staff members across Commonwealth Hill, Mobella, and Bulgunnia. Whether the transition will alter staffing levels across the remote outback stations remains unaddressed in the current corporate disclosures.
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