The 1 million-hectare Tipperary group of properties in the Northern Territory could fetch as much as $200 million if owner, Australia's richest barrister Allan Myers QC, is successful in finding a buyer.
The blue-ribbon property is up for sale by private tender (offers close December 15), with Landmark handling the sale.
If such a price is realised it would represent a hefty return on investment for Mr Myers, who paid just $50m for the property five years ago.
Agents say the sale has been motivated by commercial gain, and not - as others have claimed - out of frustration with the Northern Territory's draconian limitations on land management practices.
According to The Australian Financial Review, the property will be offered either in its entirity or in five individual lots, on a walk-in, walk-out basis, including 80,000 head of cattle and extensive infrastructure such as a bitumen airstrip.
The properties are located about 150km south of Darwin and are about 85pc arable, with double frontage to the Daly River.
Expectations of a such a high price for the blue-ribbon station follow on from a spate of high value sales in the NT, including last week's $72m deal for La Belle Station, sold by Peter Camm to Primary Holdings International.