Vince and Trish Ryan's property "Wirrianda" near Lake Hume was sold to Cookardinia buyer Margaret Wade for $4,050,000 with the auction for the 316 hectare farm held yesterday conducted by Brian Unthank Real Estate.

Mrs Ryan founded the Meg's Children Nepal charity two years ago following the death of her daughter at the age of 23.

There were five registered bidders for the auction with bidding starting at $3 million.

"It sold well and truly above expectations," auctioneer Bart Hanrahan said.

Mr Hanrahan was joined by brother Tom, mother Sue and grand-father Brian Unthank in the successful marketing of the property.

The two brothers' late father, Dallas, also previously worked for BUR before he died in 2007.

The Bowna property is located in an area with an annual rainfall of 700mm with improvements including a five bay lock up shed, large hayshed and open bay machinery shed and cattle yards with undercover crush, working area and loading race.

Built in 1952 the main residence consisting of five bedroooms underwent a major refurbishment 11 years ago with a master bedroom wing added earlier this year.

The original "Wirrianda" homestead, built around 1915, has been vacant for many years and is in need of a total refurbishment.

An original woolshed is also in need of substantial refurbishment.

The property has been traditionally used for cattle breeding, but could easily be adapted for cattle finishing, prime lambs or seedstock.