Crown Point Pastoral Company has bought three stations totalling more than 3.26 million hectares from Gina Rinehart’s expansive northern portfolio, including Phoenix Farm near Katherine.

Crown Point is a joint venture of Central Australians, the Oldfield and Costello families.

Elders confirmed the sales that has seen Crown Point purchase Ruby Plains and Sturt stations as well, in WA’s Kimberley region from Ms Rinehart’s Hancock Agriculture and S Kidman and Co businesses.

The purchase price of the three stations was not disclosed.

“The sale of these properties is consistent with Hancock Agriculture’s strategy of divesting properties where it has already invested to improve them by focussing on specific areas, including improved animal welfare and employee safety, the use of technology and innovation and genetic improvements across the herds,” Hancock said in the statement.

Crown Point is now Australia’s largest landholder with a total 7.2 million hectares. Ms Rinehart had previously been the largest landholder, with a peak of 10 million hectares. Hancock’s selldown has seen it rank third now.