McShane family sells historic Tasmanian farm Stonehenge for about $25m

A 170-year-old Tasmanian farm has been sold for the first time in three quarters of a century. See the details.

A massive Tasmanian homestead and farm steeped in 170 years of history has been sold in a recent deal reportedly worth about $25 million.

The McShane family, who had owned the historic 3386ha property, Stonehenge, for about 75 years, offered it to the market in February this year.

Details of the transaction are subject to confidentiality arrangements, but Sydney investment fund manager Allan Fife has reportedly acquired the property.

Mr Fife is the founder and director of Fife Capital, an “independent alternative asset manager” on “behalf of institutions, retirement funds and private capital sources”, according to its website.

Located 80km northeast of Hobart, in Tasmania’s Eastern Midlands region, the property includes 1800ha of arable to semi-arable farmland alongside a mighty seven-bedroom sandstone homestead built in 1879.

Stonehenge has been sold to Sydney investment fund manager Allan Fife.

Prior to the McShane family’s tenure, which began in 1947, Stonehenge was first established by renowned Tasmanian figure Samuel Page in 1855.

The showpiece of the property is the Henry Hunter-designed slate-roof homestead, which has been modernised as a functional home and features grand rooms, high ceilings and ornate fittings.

Nutrien Harcourts Tasmania selling agent Andrew Fisher did not disclose any details about the sale, but said the Stonehenge homestead was a key part of the sale.

“We had interest from multi-generational Tasmanian farming families and other larger farming families, as well as fund managers and institutional investors,” Mr Fisher said.

“The homestead is treasured by farming families, but not for institutional buyers.”

After Stonehenge was divided for succession planning and irrigation was developed, it became capable of carrying 14,000 dry sheep equivalents.

Stonehenge had been in the McShane family for about 75 years.

There are 1360 megalitres of water rights with a half-share ownership of a 1500ML storage dam.

Irrigation comes via five 40ha pivot circles with 250mm pipe, with one pivot servicing two circles each year.

There are a further six circles planned and there is potential for a 5000ML dam site on the southeast of the property.

About 1500ha of the property comprises native grasslands grazing, bush runs, with some commercial forest.

When the property hit the market earlier this year, livestock and machinery were offered separately.

Last year, one of Tasmania’s finest farms, the whopping 4448ha Vaucluse Estate at Conara south of Launceston was sold by US-based investment firm Proterra Investment Partners for more than $100 million to a New Zealand farming family.