Eight years after it was purchased for $2.95 million the former Arding CSIRO station has sold.
The 325 hectare property in Armidale was used by the CSIRO for research from 1947 until 2014. After just eight years well known businessman John Cassidy has sold it for an above expected profit.
The property was one of two portions of the pioneering White family’s Saumarez Station, one of the earliest grazing blocks established on the New England tablelands.
Arding is described as “a beautifully balanced mixed farming and grazing property located in the highly regarded and tightly held Northern Tablelands region of New South Wales.”
The Cassidy’s have made many improvements to the property during their ownership together with a unique array of infrastructure including laboratory and sampling sheds previously utilised by the CSIRO centre for its research pursuits. There’s also a vacant block to build a new homestead on. The property sold for $8.2 million making is more than $10 thousand an acre.
Selling agent Daniel McCulloch from McCulloch Agencies said it was a record for the area. “We had 9 registered bidders, the auction room was full,” he said. “A lot of people thought it would make around $7000 an acre and it made over $10000 per acre. It's a very special country and that was a record for the area. It was a big result.”
The property was purchased by beef producer John Jackson from Jackson Agriculture. The company already operates other stations in the region.