After more than 50 years in the hands of the same owner, ‘Rosewood’ on Stoney Creek Road near Narrabri has been sold to a local farming family for over $5 million.
Rural real estate in the west of New South Wales shows little signs of slowing with another impressive sale.
This time it was the auction of ‘Rosewood’, a 1300 acre property that has been set up for beef cattle production with nine pasture improved paddocks for rotational grazing.
Located 10 kilometres east of Narrabri on Stoney Creek Road, ‘Rosewood’ is set against the backdrop of the Nandewar Ranges and is described as one of the district’s best grazing & farming properties.
Around 50 people attended the auction with 12 registered bidders. Bidding started at $3million with the property eventually being sold for $5.47million.
The property was bought by Stuart Park back in 1971. Selling agent Paul Thomas from Nutrien Harcourts Narrabri said the property had been very well managed.
“There’s minimal noxious weeds, it has established pastures and it’s never been overstocked,” he said.
“Stuart and his family have been cattle producers in the area for generations but now he’s retiring into Narrabri,” he added.
Mr Thomas said it was no surprise that the property drew such a vast amount of interest. “We probably did over 20 inspections, most properties would be about half that,” he said.
“It’s close to town and very well looked after and has a lovely outlook, from any part of the property it looks out at the ranges.”
Mr Thomas said a local farming family purchased the property.
“We did have some interstate inquiries but mostly local.”
-AuctionsPlus