The Kentucky Blue and The Flags sold by Mawhinney family

A premier NSW northern tablelands cattle farm has been offloaded by its local owners for more than $55 million.

Kentucky Blue and The Flags, a premier cattle aggregation in the Niangala-Walcha region on the northern tablelands of NSW, has been sold in a major deal.

Comprising 3645ha, of which about 2350ha are dedicated high performance pasture country, Kentucky Blue and The Flags was sold in a deal well in excess of $55 million.

The aggregation was offered via a Meares simultaneous online auction starting at 11am Wednesday and concluding noon today, where it was sold shortly after the auction.

It is understood the landholding sold for more than $53.5 million, while it is believed about 3000 head of cattle and plant and equipment were also sold.

The identity of the buyer remains undisclosed due to confidentiality arrangements.

Max and Jenny Mawhinney offloaded the aggregation and are headed for retirement after first moving to the area in 2001, where they have accumulated the holdings over time.

Kentucky Blue and The Flags was sold post-auction to an undisclosed buyer.

Kentucky Blue and The Flags is located in tightly-held and highly regarded cattle carrying country and adjoins the renowned Upton Farms, which was sold earlier this year for about $80 million.

Central Queensland’s the Rea family reportedly purchased the 2668ha holding in a walk-in, walk-out deal with about 4500 head of cattle understood to have been included.

Meares and Associates director and selling agent Chris Meares handled the sale of both NSW northern tablelands farms, Upton Farms and Kentucky Blue and The Flags.

Located on top of the Great Dividing Range, Kentucky Blue and The Flags is about 20km from the village of Niangala and 50km from Walcha.

Mr Meares said Kentucky Blue and The Flags was a valuable asset thanks to its exclusivity and uniqueness as a livestock and background fattening area with heavy basalt soils, high rainfall and outstanding pastures.

With productive pastures, Kentucky Blue and The Flags can carry about 2750 cows.

Kentucky Blue spans 2177ha with 930ha of established pasture and a carrying capacity of 1100 cows or 14,500 dry sheep equivalent.

The Flags is 1467ha of which 1415ha are established pastures with a 1650-cow carrying capacity and 25,500 dry sheep equivalents.

About 80 per cent of the aggregation has new fencing, with about 56 primary paddocks and a circa 2010 four-bedroom homestead at Kentucky Blue and a three-bedroom manager’s home, and four staff cottages.