Chinese businessman Qingnan Wen snaps up Mawallok estate at Stockyard Hill near Beaufort
A Chinese businessman has reportedly snapped up Mawallok estate in Victoria’s Western District. The property was listed for sale in October last year.
A CHINESE businessman has reportedly snapped up Mawallok estate, after it was listed for public sale for the first time in 172 years at the beginning of October.
Title deeds reportedly show the 2349ha cropping and grazing heritage-listed property, at Stockyard Hill near Beaufort, has been purchased by Qingnan Wen, the largest importer of Australian wool into China.
Mawallok was listed on the market by Stephen and Serena Mitchell, who had owned the property since 1980, with an asking price of more than $25 million.
Mr Wen owns Tianyu Wool, based in Jiangsu, as well as the 2000ha Lal Lal Estate, near Ballarat, which he purchased in 2014 for $20 million.
It is understood the sale has yet to settle and is subject to Foreign Investment Review Board approval.
Selling agent Nick Myer, from Elders, told The Weekly Times when the property was listed for sale that it was rare for an iconic and tightly-held asset to be offered for sale.
“The owners are to be commended for their management and continued capital investment, which has greatly contributed to the spectacular presentation and overall efficiencies of Mawallok,” Mr Myer said at the time.
Founded in 1847, Mawallok is considered one of Australia’s most historic pastoral holdings and has a 10-bedroom mansion surrounded by a grand 2.5ha garden designed by renowned landscape architect William Guilfoyle.
It has its own six-hole golf course and two tennis courts, and spectacular views to the Pyrenees Ranges and Mount Cole.
The centrepiece of the property is its 1908 Arts-and-Craft style homestead designed by Rodney Alsop.
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