- 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.