Mr Camm, who is known for selling his Northern Territory station LaBelle for a record $72.5 million at the top of the market in 2008 to RM Williams Agricultural Holdings, has since bought several cattle stations on the cheap.

Mr Camm confirmed on Friday that he had purchased the 36,000 hectare Goldsborough Station, 160 kilometres west of Charters Towers, for $4.75 million, The Australian Financial Review reports.

The sale represents a big discount to the $6 million the vendors paid three years ago when cattle station prices exploded.

The station, which has been developed over the past three years, was sold with about 3500 head of cattle, valued at about $1.6 million.