The Oolloo Farm; a rare and unique piece of freehold land located in Central Australia has been purchased by the Caason Group.
The Caason Group, led by Managing Director Craig Astill, was confident that the acquisition would provide support for its sister operation at the 1 million acre Aileron cattle station.
“With a land extent of 1,047 hectares the planned operations to develop Oolloo will boost our focus on Innovation/R&D developing new crops, soil management techniques and Agri-tech”. Additionally the ability to generate strong cash flows through its current hay productions, will be a key to the success of the Caason Group’s commercial plans for the region.
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 Groups efforts to be a pioneer in this exciting growth sector will soon be realized once the required approvals are finalized by the last quarter of 2021.