The Oolloo Farm; managed and operated by Ti Tree Food & Fibre, becomes the Caason Group’s latest strategic acquisition.
Positive winds of change and a new lease of life has been granted to one of the Northern Territory’s most unique and prized freehold properties. The Caason Group, led by Managing Director Craig Astill, was confident that the recently completed acquisition would provide support for its adjacent 1million acre cattle station operated by Caason subsidiary Aileron Pastoral Holdings, as well a host of other exciting plans being lined up.
“With its land extent of 1,047 hectares, the operations we have planned to develop at Oolloo will also boost and support our interest and focus on Innovation/R&D developing new crops, soil management techniques and Agri-tech” said Mr. Astill. He went on to express his group’s intentions to develop the investment’s ability to generate strong cash flows through its current hay productions.
The unique value of the property stems from its 1,000 megalitre per year water extraction licence and six centre pivots. Oolloo is one of a handful of properties in the region that produce irrigated crops. This acquisition will be managed and operated by Caason Group’s wholly owned subsidiary – Ti Tree Food & Fodder Pty Ltd.
“We will also continue to develop our ambitious plans for the industrial hemp sector in the region” said Mr. Astill, confident that the Group’s efforts to be a pioneer in this exciting growth sector by the last quarter of 2021 will soon be realized once the required approvals are finalized.