The Northern Myth can reveal that Bettina “Tina” MacFarlane, Country Liberal Party candidate for the Federal seat of Lingiari at the 2016 general election, has sold Stylo Station–which she jointly owns with husband Lindsay MacFarlane–to TFS Properties, a subsidiary of TFS Corporation, the world’s largest owner and manager of Indian sandalwood plantations.
The Northern Myth has accessed Northern Territory government Lands Titles Office records that show that NT Portions 7018 and 72014 were transferred to TFS Properties on 10 December 2015 for $5.5 million. NT Portion 7018 is 66 square kilometres and 94 hectares in size and NT Portion 72014 is 27 square kilometres and 99 hectares, a total just shy of 9,500 hectares. Between them they form the major part of Stylo Station.
The Northern Myth understands that the MacFarlanes have retained some areas near the homestead and a proposed rural residential development to themselves. The Northern Myth also understands that, as is usual in commercial transactions of this nature, that negotiations between the parties had been underway for some months prior to the transfer on 10 December 2015.
Regular readers here may recall that in June 2015 I posted this piece following a report by Sue Neales in The Australian that Stylo Station had been sold to TFS for $4 million. At the time I noted that:
Whether TFS has bought Stylo Station from the MacFarlanes remains unclear, though the MacFarlanes are adamant that it has not been sold. TFS yesterday told The Northern Myth that “We have no further comment as the matter is currently commercially confidential.” One conclusion that can be drawn from that comment is that a deal of some kind is in the works.
At that time the MacFarlane’s told The Northern Myth “we have not discussed or entered into any arrangements with anyone, we haven’t sold Stylo.”
Mrs MacFarlane later told The Northern Myth that:
Stylo has not been sold. We have not negotiated the sale of Stylo to anyone. We will remain owning and running Stylo in its normal manner into the foreseeable future and no event has occurred which will alter that fact.
Earlier today The Northern Myth put a number of questions to TFS and Mrs MacFarlane seeking to confirm the sale as reported here by Craig Dunlop in the NT News overnight.
TFS responded confirming the sale, as did Tina MacFarlane, who replied that “NT Portion 7018 and NT Portion 7204 have been sold to TFS.”
Among other things, Tina MacFarlane also told The Northern Myth that:
We have received no special or inconsistent treatment. The transaction which was incorrectly reported earlier in the year did not exist. We wish to confirm that that we do not consent to the disclosure of our personal information (in whatever form that information may or may not be obtained). We reserve all rights in relation to any loss which may be suffered as a result of the disclosure of illegally obtained personal information.
Of particular interest to The Northern Myth and many others is whether or not the sale price for Stylo Station includes any premium for the inclusion of the annual extraction of 5,800 megalitres as granted to Stylo Station by the NT government’s Water Controller in March 2013.
That, and other matters of interest will require some further analysis over the Christmas break.
Photo: CAAMA Music