The Australian Financial Review reports that Mr Buntine, whose wealth is estimated at $350 million by BRW, is selling more than 70,000 hectares of prime grazing country at Blackall which he bought for around $30 million earlier this decade.

The properties include the 13,100ha Allambie, which he bought in 2007 for $6.1 million, the 36,900ha Malvern Hills, bought for $14.5 million in 2006, and Inverness - 17,000ha of which he bought for $10.7 million in 2006.

Ray White Rural's Andrew Adcock is the selling agent for the properties.

Last month Mr Buntine's 599,400ha station Tobermorey in the Northern Territory was passed in on an auctioneer's bid of $11 million and his 197,000ha Linda Downs pastoral holding in far west Queensland passed in for $5 million.