Farm near Hamilton at Strathkellar resold after buyer fails to pay
A Western District property has been resold after the buyer – Tony Astbury – was unable to pay. Full story here.
A farm near Hamilton, which recently sold for a record price, has been resold after the buyer was unable to pay.
Tarrellar Park at Strathkellar, which sold under the hammer at the beginning of April for $3.41 million, has been resold after buyer Tony Astbury from Cavendish was unable pay the record price which he secured the property for.
The million dollar sale equated to Mr Astbury paying a whopping $22,341 per hectare or $9045 an acre, which was a new record for the district.
Tarrellar Park has been owned by Ian and Kay O’Connell for 15 years, who are downsizing to a property close to the coast.
Selling agent Andrew Dufty said the O’Connells’ property had now been resold to a buyer who expressed their interest prior to the auction.
“The sale didn’t proceed to settlement with the original buyer but it has since resold – at no loss to the vendor,” Mr Dufty said.
He was unable to disclose the identity of the new buyer.
A prime lamb operation has been run on Tarrellar Park, which has also served as a base for a working dog training enterprise.
About 1350 first-cross ewes and 600 prime lambs have been run by the O’Connells.
Mr Astbury did not respond to a request for comment.
MORE PROPERTY
RIVERINA ALMOND ORCHARD FOR SALE FOR $30M
Regional Victoria and the Riverina sale and auction results, week ending February 2
Regional Victoria and the Riverina recorded eight property sales over a million dollars last week, the latest auction and sales results reveal.
$120m-plus price tag for huge outback grazing portfolio
A five-farm aggregation of 284,900ha in outback NSW and Qld has hit the market where it is expected to command nine-figure offers.