Malcolm and Lucy Turnbull’s Hunter Valley farm fails to sell at online auction
Former prime minister Malcolm Turnbull and wife Lucy failed to find a buyer for their Hunter Valley property at its midweek online auction.
Former prime minister Malcolm and his wife Lucy Turnbull didn’t find a buyer during their midweek online auction of their Hunter Valley property, Scotts Creek.
It ended on a $6 million vendor bid. Meares & Associates agent Chris Meares had expected the two-day auction to attract several bids of between $6.5 million to $6.75 million.
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The 2000ha farm, 330km from Sydney, has had a history of running merino sheep and breeding quality beef cattle.
The Murrurundi property is in the foothills of the Liverpool Ranges just north of Scone.
In recent years it has carried 500 to 600 breeding cows along with 1000 to 1500 merino ewes and wethers. It is well watered, with creeks, springs and surface dams, complementing the rainfall.
The farm improvements include the three-bedroom manager’s home, two sets of cattle yards, a six-stand wool shed, two sets of sheep yards and two machinery sheds.
Another farm, East Rossgole at Aberdeen — inherited from Turnbull’s father Bruce who died in 1982 — will be retained by the Point Piper-based family.
The Turnbulls recently offloaded their redundant Canberra penthouse for $2.06 million, given his departure from parliament.
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The two-level, three-bedroom Kingston apartment was bought by Sydney barrister Keith Rewell and is now a $1185-a-week rental. The Turnbulls had bought it off the plan in 2006 for $1.95 million.
Originally published as Malcolm and Lucy Turnbull’s Hunter Valley farm fails to sell at online auction