Two Central Australian cattle properties have sold to a Filipino businessman, lawyer and property developer in a deal worth over $20 million.

Romeo Roxas, who owns sheep and cattle properties near Cobar in western New South Wales, has bought the 560,000-hectare Murray Downs station and the 265,000-hectare Epenarra Station south east of Tennant Creek.

His purchase includes about 18,000 head of cattle.

The deal is unconditional but is still subject to approval by the Foreign Investment Review Board.

The sale was negotiated over the past month by Jock McPherson of Territory Rural.

Mr McPherson told Beef Central this morning that it is a rare sale of Central Australian/Southern Barkly country to non-local connections.

“The majority of central Australia is brought by locals or local connections, to get an outsider has been significant,” Mr McPherson said.

“He sees significant value in the future of the Northern Territory cattle industry.”

Mr Roxas is director of the Philippine Veterans Bank, president of the Green Square Properties Corporation and the Green Circle Properties and Resources Inc and has developed master planned industrial, educational and resort cities in the Aurora and Quezon provinces on the eastern Phillippines seaboard.

He was also an unsuccessful bidder when Chinese billionaire Xingfa Ma purchased Wollogorang Station in July for $47 million.

Murray Downs and Epenerra are located east of the Stuart Highway, near Barrow Creek. Murray Downs ajoins Neutral Junction to the west, and Elkedra to the east.