Historic highlands estate back on the market at 40pc more than was paid a year ago

It has been a single land holding in the NSW southern highlands for over 200 years and neighbours include actor Nicole Kidman. Now a former tech entrepreneur plans to make a tidy profit.

Demand for property in the NSW southern highlands makes Newbury Farm a rare commodity.

Former tech entrepreneur-turned-farmer Peter Crown hopes to cash in on the popularity of the NSW southern highlands by listing Newbury Farm, a 407ha estate which it’s hoped will fetch $55m – almost $20m more than he paid for it little more than a year ago.

Marketing agent McGrath Rural’s Stuart Davies defended the enormous price increase, saying improvements had been made to the holding in the past 12 months, and the true value of the historic property has never been fully tested.

“It has never gone to the open market,” Mr Davies said.

One of Newbury Farm’s cottages at Sutton Forest, NSW.

Billed as one of the largest ­single estates in the southern highlands southwest of Sydney, the sought-after property was originally granted in 1822 by ­then governor Lachlan Macquarie and is still intact 200 years later.

Fronting 7300 Illawarra Road, Sutton Forrest, Newbury Farm ­includes an 1850 convict-built, four-bedroom homestead as well as two workers’ cottages – one of which needs renovation – set across major road frontages.

Newbury Farm maintains herds of black angus and Wagyu cattle.

“With its enviable scale, ­location and history, there is expansive potential for a transition from farming to lifestyle, heritage tourism or investment holdings, subject to regulatory approvals,” said Mr Davies, who with co-agent Adam Ross is about to launch a campaign to sell the estate.

Mr Davies theorised a prospective buyer might be a family wanting to renovate the homestead and pass on the property to the next generation for a future land subdivision, subject to council approval.

The property was originally granted in 1822 and more than 200 years has not been broken up.

“The buyer could be a wealthy family, and the children and grandchildren will benefit from most likely a development play, given it’s less than five minutes from Moss Vale; it has three road frontages,” he said.

The other type of buyer could be a developer who will sit on it.”

He said the homestead would need renovation in order for it to be befitting of such a property.

One of the cottages on the estate which will likely require renovation.

Mr Davies said that Kenmore Cottage, the original slab cottage which was rented until the end of last year, needed full renovation, while the other cottage, known as Aunty’s Cottage, currently has a lease in place at $600 a week and was in good condition.

The eventual buyer of the estate, which is zoned C3 Environmental Management, will count notable owners such as actor ­Nicole Kidman as neighbours.

Previous owners of Newbury Farm have included Sydney’s first harbour master, Captain John Nicholson, as well as Edward Simpson Snr of law firm Minter Ellison and later his son, Edward Simpson Jnr and his wife, Caroline Simpson, the daughter of newspaper proprietor Sir Warwick Fairfax.

The expansive holdings is currently used to run cattle.

It is unknown why Burradoo-based Mr Crown, who started his career as a tech entrepreneur, has decided to sell Newbury Farm, but he has form buying and selling southern highlands real estate and netting good financial results within a short period.

He reportedly purchased horse stud Manx Park at Sutton Forest with property investor Robert Whyte for $11.54m, before selling it within a month to billionaire Kie Chie Wong and Ann Lim for nearly $15m.

Core Logic records reveal a company known as Newbury Hall Pty Ltd, which is directed by Peter Crown, paid $38.5m for the Newbury Hall holding just one year ago.