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.

Tarellar Park at Strathkellar near Hamilton has been resold after the sale didn't proceed to settlement.

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.

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