A premier farmland holding in Bombala has been sold via the AuctionsPlus platform for above expectations, and a record price.
Following six generations of family ownership, a 1919ha farm located in the NSW Monaro region was sold via AuctionsPlus for $16.05 million.
Selling agent Sam Triggs of Inglis Rural Property confirmed a Sydney-based off farm investor with rural interests, and several other farms, was the purchaser of South Bukalong.
“The property’s history, scale and commercial enterprise attracted strong interest which led to a good number of inspections and five registered bidders on the AuctionsPlus platform," Mr Triggs explained.
“The Garnock family did an exceptional job of presenting the property, for what was a significant decision to sell after six generations of ownership.”
The final price exceeded market expectations and is a record price for Monaro farmland as well as a new highest price per hectare for the region.
“We are delighted with the performance and platform offered by AuctionsPlus.”
South Bukalong was founded by George Henry Garnock in 1842 and today is one of the premier holdings in the Snowy Monaro region having been progressively developed over generations for nearly 170 years.
South Bukalong started as a fine Merino wool producing property and today offers livestock breeding land suitable for wool, prime lambs and beef production and has an estimated carrying capacity of 12,000-15,000 dry sheep equivalent.
“The land features a long history of producing high quality stud genetics with continued focus on soil carbon, productivity and profitability,” Mr Triggs said.
The farm also includes a five-bedroom, four-bathroom homestead set among established gardens with a tennis court.
It has established pastures as well and has been farmed with a focus on soil, carbon, productivity and profitability. It is extensively fenced for a progressive cell-grazing enterprise and is well watered.
View the sale results here.