Homestead complex on Commonwealth Hill, one of the three properties involved in the aggregation

WEALTHY Adelaide businessman Khalil ‘Charlie’ Shahin has entered into an agreement to purchase a 1.29 million hectare aggregation of sheep country in South Australia’s north-west from the MacLachlan family’s Jumbuck Pastoral.

Mr Shahin will make the purchase through his private investment vehicle, ATAYF group of companies. No sale price has been disclosed.

The Jumbuck North West Pastoral Aggregation is one of the largest contiguous sheep stations in the world and comprises 553,000ha Commonwealth Hill Station, 426,000ha Mobella Station and 310,000ha Bulgunnia Station.

The aggregation supports a large-scale self-replacing Merino operation, with a combined prescribed capacity of 83,300 sheep. It was placed on the market through an expressions of interest campaign in May.

An Elders release said Mr Shahin was Palestinian refugee and began the family business, Shahin Enterprises, with his father in 1984, operating a single service station at Woodville SA. The business grew into a powerhouse covering petrol, retail and commercial property operating 165 service stations in South Australia, as well as 205 gift shops nationally, employing 5000 staff. By 2020, the Peregrine business was ranked the largest private company in SA. Peregrine was sold to VIVA energy in 2024, Elders said.

Since then, Mr Shahin has focussed on his role as executive chair of the ATAYF Family Office, managing various commercial, residential and agricultural properties.

In February, the family paid about $25 million for 408,000ha Aileron Station north-west of Alice Springs, running cattle. The deal also included a second 1047ha irrigation property, Ooline Farm, about 40-minutes away to grow hay to feed his cattle.

In a profile in the Australian Financial Review last year, Mr Shahin described the purchase as a long-held dream.

“I have two degrees in agriculture, so my passion lies in the land.

“It is a privilege and a testimony to this great country, Australia, that provides an opportunity for a Palestinian refugee kid to own properties of such magnitude.”

The sale of the MacLachlan family’s North West Pastoral Aggregation follows Jumbuck Pastoral’s previously announced succession planning process and the transaction marks the transfer of stewardship from one South Australian family to another.

As part of that process, the MacLachlan family last year sold its 10,000sq km Rawlinna Station in Western Australia to Consolidated Pastoral Co.

Elders said the acquisition by ATAYF will see the assets continue under the ownership of a South Australian family with equally deep roots in enterprise building, long-term thinking and generational investment, a media statement issued by Elders said.

Jumbuck Pastoral spokesman Callum MacLachlan said the three stations had formed an important part of his family’s story for many decades and the decision to part with them was not made lightly.

“Throughout the sale process it was important to us that the aggregation passed to an owner who understood the significance of the assets, respected the work of the people who have managed them and shared our belief in the future of Australian agriculture,” he said.

“We have come to know Charlie and his family through this process and believe they will be excellent custodians of the aggregation. Their commitment to long-term investment, family values and Australian agriculture gives us great confidence that these stations have a bright future ahead of them.”

Mr Shahin said owning and working with agricultural assets had been a lifelong ambition.

“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,” he said.

“Agriculture sits at the heart of Australia’s identity and I have always believed there are few opportunities more meaningful than investing in the land that produces food and fibre for the world.

“The Jumbuck aggregation is an extraordinary collection of pastoral assets assembled and developed over many decades through skill, patience and sustained investment,” he said.

“We are honoured that the MacLachlan family has entrusted us with the responsibility of carrying that legacy forward.

“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.”

Elders Real Estate chief executive Tom Russo said the assets represented one of the most significant sheep and wool production opportunities ever offered to the Australian market, attracting interest from a broad range of domestic and international investors.

“It is tremendously encouraging to see a family of this calibre making such a significant investment in the Australian sheep and wool industry.

“The level of interest we saw throughout the campaign reinforces the confidence sophisticated investors have in the long-term outlook for Australian fibre and protein production,” he said.

“Australia’s sheep industry remains one of the nation’s great agricultural success stories. To see substantial new capital being committed to the sector at this scale is a strong endorsement of its future and of the opportunities that exist in regional Australia.”

Jumbuck Pastoral was established in 1888 and was one of the largest livestock production enterprises in Australia. The North West Aggregation has been held by Jumbuck since the 1940s.