Mayfield Estate Cottage
Mayfield Estate Cottage. Source: From Meares
  • The estate sold $1 million above expectations
  • Seller was a Chinese investment and development company
  • Buyers were a local family from Taree

The historic Mayfield Estate at Larbert has been sold for $9.4 million after five formal offers were made for the property.

Dan Woodford, who marketed the estate said the result exceeded everyone’s expectations, as they were hoping to get around $7.5 to $8.5 million.

“The market in general, and agriculture, is strong. Cattle prices are great. Sheep prices are great. Proximity to Canberra was another biggie.”

It was offered for sale by AO Farm Holding, a Chinese investment and development company. Mr Woodford said Mayfield Estate was sold to fund work on one of the group’s subdivision projects.

The buyers, who Mr Woodford declined to name, were cattle farmers from Taree.

Less than an hour’s drive away from Canberra, the pastoral holding is of significance for its ability to demonstrate the changing processes of settlement, survey, and land grants from the mid 19th to early 20th century.

The structures are located in three clusters, with the main complex of homestead and garage located on the rise adjacent to Mayfield road.

Mayfield is one of the larger properties in the Tallaganda Shire. It includes a homestead, homestead garage, cattle yards, shearing shed, slab diary, slab stables, dairy remains, manager’s cottage, working men’s cottage, garage, landscaping, a small 1940s cottage, and stone ruins.

The estate will also include a renovated six-bedroom homestead, a library, and billiards room built around 1900, a swimming pool, a grass tennis court, and two renovated cottages.

You May Also Like

Growing market: childcare facilities investment developing

Recent changes to Child Care Package subsidies, as well as govt support of childcare as an essential service, will be another growth driver.

West Perth’s CBD leading the move towards growing employment nodes

Markets which were not hampered with the same level of lockdown, such as Brisbane and Perth CBDs, have improved their occupancy.

WA Government to boost development with $80M fund and DAP delay cap

Premier McGowan announced 120-day state govt DAP caps and opt-ins for local govt, $80M in infrastructure funding, and green light for smaller multi-dwelling developments of $2M.

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.