THE 11,137-hectare (27,520 acre) Glenmorgan/Meandarra district property Myall Park has sold for $5.65 million at an Elders auction in Toowoomba this morning.
The buyers were Ken and Jenny Phelps and family from Myalla, Roma.
The predominantly brigalow/belah country property was offered by Peter Gordon and family, who have owned Myall Park for the past 90 years.
Bidding on the freehold property opened at $4m, with five of the 12 registered bidders active at the auction held in the Burke and Wills Hotel in Toowoomba.
Myall Park is described a partly developed, large scale holding suitable for finishing, backgrounding and breeding cattle. There are also areas that could be developed for farming.
Rural property specialist John Burke said there had been 22 individual inspections made of the property.
“It is a good indication of the interest and the underlying strength of the property market,” he said.
The sale is equal to about $507/ha ($205/acre).
The marketing agents were Elders agents Clayton Smith from Goondiwindi and John Burke from Brisbane.