Former Queensland Investment Corporation boss Damien Frawley and his fellow investors have walked away – on paper at least– with a healthy capital gain after selling a large organic-certified cattle station in Central Queensland for $25.5 million.

Mr Frawley, a former Wallaby, who sits on the boards of Mirvac, Elders and industry superfund Hostplus, is the largest shareholder in Blue Sky Beef, which put the 18,077 hectare Gowan Station, 70 kilometres south of Blackall, on the market in May.