Stonehouse and Mount Morriston: Landmark Tassie farms sell for $68 million

Stonehouse and Mount Morriston have sold, marking the biggest rural property sales in Tasmania for decades.

Mount Morriston at Ross in Tasmania has sold for $21 million.

Two farms in Tasmania have sold for a combined $68 million, the biggest rural property sales in the state for decades.

Stonehouse at Lemont in the Southern Midlands sold for $47 million on a walk-in-walk-out basis.

The 7500ha sheep and cattle property was sold by Tony Seymour and purchased by Peter Downie, a sixth generation farmer and developer from Tasmania.

Mount Morriston, sprawling 9300ha at Ross, sold for $21 million to the Von Bibra and Millar families from Tasmania.

The mixed farming property features a jointly owned 7000-megalitre water storage dam, over 30km of Macquarie River frontage and a nine-bedroom refurbished Georgian-style sandstone homestead.

Mount Morriston has historically been renowned as a wool growing enterprise, having won the Zegna trophy for premium fine wool eight times.

It was listed for sale in December last year.

Both Stonehouse and Mount Morriston were sold by Shane McIntyre from CBRE and David Robertson from Agribusiness Services Tasmania.

Mr Robertson said the sale of Stonehouse was one of the largest transactions in Tasmania for many decades.

”Very few properties of this scope and size present themselves in Tasmania, and the Downie family respected the opportunity to expand their already significant portfolio,” he said.

Mr McIntyre said he regarded Tasmania as a “very attractive alternative to high rainfall mainland values offering versatile productive enterprises that present less complex irrigation options and consistent returns”.

“Farmland values in Tasmania have enjoyed an average rise in excess of 40 per cent over the last half decade,” he said.

“Astute investors should not ignore this trend, which is not showing signs of easing”.

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