The West Australia farm, Yathroo, covering almost 12,000ha at Dandaragan, has been sold by its Kuwaiti owner to Wagin couple Mat and Jade Stoney.

It is understood the Stoneys will transform Yathroo for cropping and cattle production.

Yacoub Yousef Al-Homaizi farms 50,000 sheep and lambs with about 2000ha set aside to grow crops sine he bought it more than two decades ago from bsuinessman Alan Bond 

It was sold by Elders agents Malcolm French and Andrew Farson.

Yathroo was founded soon after a settler expedition in 1848.

It still comes with its original 1855 homestead, set about 165km north of Perth.

The Al-Homaizi Group was founded by Yacoub Yousef Al-Homaizi, now in his 80s, who was a major force in the economic and social development of Kuwait.

Around $40 million was tipped.