According to The Australian Financial Review, the collection of properties includes the North Bourke Gin, the 283-hectare Lodebar, the 1400ha Alambi, the 5500ha Darling Farms, plus Back of Bourke Fruits, and River Gum.

The properties, 75pc owned by the Buster family, were hard hit by the drought when their 30,000 megalitres of water allocations largely dried up, pushing the business into receivership.

The AFR cites some industry sources valuing the properties at $90 million, while others say the price will be discounted to closer to $40m due to the properties' financial position and the effects of the drought.

Darling Farms managing director Ian Cole has previously argued that a purchase by the Federal Government for the properties' water entitlements would have been more beneficial than the controversial purchase of Toorale Station, also near Bourke.