According to the Australian Financial Review, the company has bought the 247,900 hectare cattle property from the Beebe family, who have owned it for nearly 60 years.

The block is located 160 kilometres north of Tennant Creek and adjoins Consolidated's Newcastle Waters.

Consolidated Pastoral chief executive confirmed to AFR the deal had been done, but declined to comment on price.

"It is a beautiful property and will work in well with Newcastle Waters," Mr Warriner said.

"The property has a different weather pattern to the other side of Newcastle Waters."

According to AFR, Ucharonidge will initially run 12,500 head, with Consolidated hoping to expand that to 15,000 head as new bores are drilled.