Monday, 24th October 2011

Unique Southern Highlands land parcel available for first time in 150 years

Leading real estate group Raine & Horne is offering the landmark ‘Wanganderry’ estate, a 2220 acre (898 hectare) rural land holding in the NSW Southern Highlands, for sale for the first time in close to 150 years.

The extensive land parcel will go to auction on Thursday 10^th November, and according to selling agent Matthew Anstee, principal of Raine & Horne Bowral, the estate is being sold by the Southern Highlands’ prominent Badgery family, who have owned the property since the 1860’s.

“Raine & Horne Bowral had a very good relationship with the late Mrs Badgery, and we are proud to be offering this estate for sale on behalf of the family,” Mr Anstee said.

“Currently, this is the largest land offering in the Southern Highlands market, and apart from its unique views to the Blue Mountains and Sydney, the land is also well suited to farming and cattle.”

In this respect, Mr Anstee notes that the estate has capacity for up to 600 head of self-sufficient cattle, while Wanganderry’s rich basalt soil also makes it ideal for farming, with the land used for clover farming in years gone by.

Located on Wombeyan Caves Road in High Range, Wanganderry is 20 minutes from Bowral and only one and a half hours from Sydney.

Mr Anstee said Raine & Horne Bowral is marketing the property with price expectations around $8.5 million to $9 million.

“This represents a price of around $3,900 per acre, which is excellent value compared to the area’s average market value of $9,000 per acre,” he said.

“As such, Wanganderry would suit rural developers or anyone looking for a large cattle property in the Southern Highlands, and to date, we have already fielded strong enquiries from South Coast dairy farmers and some high net worth individuals.”

Although the estate is being offered for sale as whole, it is also available in two smaller parcels – the 1360 acre (550 hectare) Wanganderry North subdivision, or the 859 acre (347 hectare) Wanganderry South subdivision.

However, if a buyer cannot be found, Wanganderry will be divided and sold by Raine & Horne Bowral as a series of 21 hundred-acre lots, complete with services, fencing and accessways.

“Each of these blocks would be expected to sell for around $800,000,” Mr Anstee said.

However, with the interest received to date, and four weeks remaining in the auction campaign, Mr Anstee is confident the property will be sold as a whole.

“This is one of the largest unique land holdings in the Southern Highlands, and buyers recognise that there will never be an opportunity to purchase something of this quality and size again.”

“For our team at Raine & Horne Bowral, Wanganderry is just another example of the type of property holding that has allowed us to become one of the Raine & Horne network’s top country offices.”

Raine & Horne is an iconic Australian property firm, with more than 360 offices worldwide. Also an established Superbrand along with Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Rural and Raine & Horne Financial.

-ENDS-

For further media information contact:

Matthew Anstee, Principal Raine & Horne Bowral on (02) 4861 4444 / 0400 555 088

Anna Truman, National Marketing & Communications Co-ordinator on 02 9258 5448