The property of Alroy Downs Station was established in 1878 by W Lamb. It was subsequently bought in 1914 by J C H Schmidt of Goolburra, Queensland. Its first manager was F Story who commenced duties in 1914. From 1934 to 1936, Schmidt's son Rudolf managed the property. The station remained owned by the family company and was later run by Trevor Schmidt, who was also managing director of The Australian Agricultural Company from 1974 to 1988. It was bought in early 2004 by Peter Sherwin and later sold to Sterling Buntine in March 2008.