ONE of the oldest houses on the Monaro went under the hammer on Saturday.
The historic Koolaroo, (also known as The Rectory and The Grange) built in 1843 was bought by Marlene Deegan for $374,000.
Auctioneer John Mooney said there was a lot of interest in the heritage listed property, on 56 acres, and close to town.
"Thirty-five people looked at the property and eighteen asked for a contract. There were 10 registered bidders on the day," Mr Mooney said.
"There was a full house at the auction, with spirited bidding on the day.
"The property is well located [on the Myalla Road, 3.5 kilometres from Cooma], and was owned by the late Kath Van De Wall since 1960."
Koolaroo needs considerable repair and restoration to bring it back to its former glory when it was the residence of the first occupant and first Anglican minister in the district, the Reverend Edward Pryce.
The auction was conducted at the Cooma Ex-Services Club, by Mr Mooney assisted by Tracy Boller, Bombala agent Stewart Lee and Cooma solicitor Chris Adams and Kim Adams.