Koomooloo Station, one of South Australia's better known big pastoral properties, has sold at auction for $8.5 million, in line with pre-auction expectations.
Offered Hamish and Anna Dunn, the 35,937 hectare (88,801 acre) property was bought by father and son team Bill and Will Gebhardt from Mokota, Mount Bryan, who owns several properties in the region the adjoining block Nolans.
The sale price is equal to about $237/ha ($96/acre).
Marketing agent Sam Krieg, Ray White Rural South Australia, said the sale price worked out at about $1400/ewe area, the higher end of values for pastoral country.
Four parties registered to bid at the auction held in the Burra Town Hall, packed by more than 100 people on Thursday.
The Gebhardts opened the bidding at $8.1m. After a short negotiation, the bid was increased to $8.5m and the property was sold.
Koomooloo is located 70km north-east of Burra and 202km north of Adelaide and has an estimated long term carrying capacity of 5500-6000 ewes and replacements.
The station boasts wide open grasslands which has been conservatively stocking in recent years.
The country is predominantly flat open blue bush and spear grass plains with small pockets of lightly timbered shelter.
Water is supplied from two bores and numerous dams.
Improvements include an historic four bedroom homestead, three bedroom house and a two bedroom cottage, an eight stand shearing shed, shearers quarters, sheep yards and sundry shedding.
Marketing was handled by Sam Krieg and Daniel Schell, Ray White Rural South Australia.
