Garnock family sells South Bukalong, near Bombala, for $16.05 million

After being owned by the one family for six-generations, the 1919ha South Bukalong farm has been sold at auction.

After being held by the Garnock family for six generations, the 1919ha South Bukalong farm, located in the NSW Monaro region has been sold for a record price per hectare.

South Bukalong, near Bombala, was sold on Thursday under the hammer for $16.05 million to a private family investing in agriculture.

It is understood the buyers, who own a number of other farms, paid a district record price per hectare for farmland of $8363 to secure the tightly held property.

Bidding for the farm started at $13.9 million with a field of multiple registered bidders pushing the price to more than $16 million.

The well known livestock farm was listed for sale last month, with price expectations at about $14-$15 million ahead of a scheduled auction on Thursday October 27.

South Bukalong was originally founded by George Henry Garnock, who arrived from Scotland in 1825 and purchased South Bukalong in 1842.

Tightly-held cattle country in the NSW Monaro region, South Bukalong, was sold at auction.

Following a decade working with the Macarthur family establishing Australia’s first Merino stud, he chose to branch out on his own with a view to producing the finest Merino wool in Australia.

Continuously held by the Garnock family, South Bukalong was used for livestock breeding and was suitable for wool, prime lambs and beef production with an estimated carrying capacity of 12,000-15,000 dry sheep equivalents.

The South Bukalong homestead.

The farm also includes a five-bedroom, four-bathroom homestead surrounded by established gardens with a tennis court.

Inglis Rural Property CEO and selling agent Sam Triggs said South Bukalong was a first-class offering.

“South Bukalong represents one of the premier holdings in the Snowy Monaro region having been progressively developed over several generations for nearly 170 years,” he said.

The farm also has 1.5km frontage to Bombala River, 2.6km frontage to Cambalong Creek and 6km frontage to Bukalong Creek and an extensive network of surface dams.

Earlier this week a Tamworth cattle station, owned by just two families since the early 1800s, was sold to an Australian agricultural investment group for more than $50 million.