According to The Australian Financial Review, it is believed the Blenkiron family, who had owned the property since the 1970s, sold to a well-known South Australian grazier from the mainland.

The 2823 hectare property, with two brick homes, at Kingscote is split into 36 paddocks and is "drought-proof" with 63 dams.

Improvements to the property include a six-stand shearing shed and steel yards, shearers' quarters, steel cattle yards and multiple machinery, hay and vehicle sheds.

Elders Real Estate King Island's Paul Clifford negotiated the sale and said the property's well-maintained infrastructure and reliable rainfall were strong drawcards.