Grazing land at Bool Lagoon has been sold at auction for more than $9000 per acre.
Selling agents TDC offered the 118 hectare (290 acres) at the Naracoorte Town Hall recently.
Bids came from a number of interested parties and the successful offer of $2.625m came from locals.
It was the first time Kay Park had been on the market for 48 years.
In his public commentary on the sale, TDC agent Tom Pearce said it was a record price for Bool Lagoon.
He said the strength of the cattle sector was driving demand for grazing land.
