The almost 4500-acre Vaucluse Estate is a mixed livestock and cropping property in Tasmania's northern midlands.
‘Vaucluse’ has been operating as a farm for almost 200 years. In the early years, Vaucluse was known as a leading Australian Corriedale sheep stud, with wool clips reaching national price records. It is situated on the banks of the South Esk River with nearly nine kilometres of direct frontage. The cropping property and luxury wedding venue at Conara, south of Launceston recently sold for a reported 100 million dollars.
Land Agribusiness Water Development (LAWD) senior director Danny Thomas wouldn’t comment on the price of the sale or the purchasers but said, “I can confirm the property sold at a level of value that is consistent with the guidance we provided to the market at the outset of the campaign.”
The Vaucluse property dates back to the 1830’s when the historic heritage-listed homestead at Vaucluse Estate was built. Originally constructed as a four-story brick and stucco building it was then renovated in 1940. It’s now used as an exclusive wedding venue.
According to the Australian Financial Review, a New Zealand agricultural family purchased the Tasmanian farm off US-based private equity firm Proterra Investment Partners. “
Torallo is co-directed by Sydney-based Christopher Spencer, son of the late New Zealand farming and meat industry figure Peter Spencer. The other director is Arthur Young, a veteran Auckland businessman with strong ties to the Spencer family. The Spencers, who maintain a low profile, already have farming interests in Australia through their New Zealand-based pastoral vehicle Rimanui Farms,” Larry Schlesinger wrote.
More than half the property is irrigated, with substantial entitlements and storage. It was sold in 2015 for $20 million but the current owners added an adjacent property to increase the holdings.