Killarney Station was established by Eric Izod with managing partner Ivor Hall in 1953.
Tapp paid £90,000, a Northern Territory record price for a cattle station at that time.
[2] The Tapp family properties, including Killarney Station, went into receivership in 1991.
[4] The property was being run in conjunction with neighbouring Birrimba Station, forming an aggregation with an area of 5,515 square kilometres (2,129 sq mi) that was supporting a herd of 41,000 Brahman cattle.
In 2012 the property was run by Wallco Pastoral Company until it was placed in receivership by the National Australia Bank before a refinancing.