Media release - 13^th December, 2012

Auction the key to sale of landmark property

Bathurst historic home, Rainham, the ancestral residence of leading Australian real estate family, the Raines, sold under the hammer for $500,000 on Thursday 6 December, 2012, to a Sydney-based couple involved in the music industry.

According to John Fagan, Co-Principal of Raine & Horne Bathurst, the Rainham property attracted 60 -70 enquiries and about 30 inspections, with musical couple Richard and Suzy Miller, from Stanmore in Sydney, securing the historic home.

Rainham was built in 1832 by swashbuckler Captain Thomas Raine, the father of Thomas Jnr, who co-founded Raine & Horne with Joseph Horne, in 1883. Captain Raine was an extremely accomplished mariner and was one of Australia’s earliest entrepreneurs, establishing Australia’s first whaling station at Twofold Bay in Eden on the NSW south coast.

“The listing of Rainham for the first time in 150 years generated a great deal of publicity and buyer enquiry, and it’s terrific this significant home sold at auction,” said Mr Fagan.

“The success of the campaign that supported the sale of Rainham also demonstrates how an auction can create interest in a property, while also putting a deadline on buyers to make a decision.”

Angus Raine, CEO of Raine & Horne, and the fourth generation of the Raine family to lead the real estate Superbrand, is delighted that the unrenovated Rainham will be meticulously restored.

“It’s pleasing that the new custodians of this historic residence have made a commitment to restore Rainham to its past glories,” said Mr Raine.

“Our brand turns 130 years old in 2013, and the sale of Rainham is also a reminder of Raine & Horne’s longevity in helping Australian owners and buyers achieve their real estate dreams.”

For further media information contact:

John Fagan, Principal, Raine & Horne Bathurst on 0414 403 340

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400