Hedlow Airfield at 221 Old Byfield Road, Mulara, sells for $5 million

A private airfield on the Capricorn Coast has sold for $5 million after it was passed in at auction at the weekend.

Hedlow Airfield on the Capricorn Coast has sold for $5 million after it was passed in at auction at the weekend.

The 614-acre property, also known as Akubra Downs, at 221 Old Byfield Road, Mulara, went to auction on site on Saturday at 11am.

The auction of property was handled by selling agents Jazz Cullen from Harcourt Low and Co and Bill Hamilton from @AG.

About 50 people were in attendance at the auction and Ms Cullen said there were eight registered bidders.

Hedlow Airfield at 221 Old Byfield Road, Mulara,went to auction on March 11, 2023. Picture: Contributed

Mr Hamilton was the auctioneer and told the crowd before bidding commenced that he did flight training at the property in 1991.

“My first 30 hours I did here at Hedlow,” he said.

“I went on to do 1500 hours as a private pilot.

“I am very pleased to be involved in the sale today.”

The auction of 221 Old Byfield Road, Mulara, was conducted by @AG's Bill Hamilton. Picture: Aden Stokes

Bidding for the property started at $3 million and it was passed in at $3.75 million.

Shortly after the auction, Mr Hamilton announced to the crowd the property had sold for $5 million to John Speed and family.

Mr Hamilton said he was happy enough that it was the reserve.

Adam Booker, who works for the Speed family and would be living at the property with his wife Caitlin, said it was an exciting day.

Amy Kitchener, Grace Low, Bill Hamilton, Damien Freney, Marg Speed, John Speed, Ben Speed and Jazz Cullen. Picture: Aden Stokes

“We are pretty excited the Speed family has been able to do a deal here on this great property,” Mr Booker said.

“It has all the infrastructure.

“Looking forward to start up a few ventures and getting the place going again.”

He said plans for the property were yet to be decided.

Ben Speed, Charlotte, Caitlin Booker, Courtny, Adam Booker and Marg Speed. Picture: Aden Stokes

The property boasts two bitumen airstrips, as well as three hangers, nine dongas and a four-bay carport.

The property also boasts a five-bedroom homestead with a large shed, a three-bedroom cottage and 14 spelling yards with stables.

There are also steel yards with an undercover cattle crush, three covered stables and a machinery shed.

The property borders Hedlow Creek and has a 2.5-hectare irrigation licence, as well as three dams and 13 water tanks.

The estimated carrying capacity is 300 breeders.