Albury district farm makes $10,859 an acre on Friday from an online auction

Mayfield Woolshed Farm sits on the old square mile (259 hectares, 640ac) sold for $6.95 million to a Berrigan farm family in a "strongly contested" online sale.

The reserve had been set at $6.5 million.

The farm is thought to be part of the original Mayfield Station founded in about 1860.

The farm is also believed to have had only five owners since and the original, four-stand, 1920s timber pole woolshed which earned the property its name still stands, reinforced with steel framing.

While all the shearing gear has been removed, agents say the shed could be reinstated if needed.

The farm was owned by local farm family with other holdings in the immediate area to "implement a family distribution".

The versatile cropping or grazing property is 20 kilometres along the Riverina Highway at Bungowannah to the west of Albury, and within 12 kilometres of Howlong.

Joint agents Peter Ruaro of Rodwells and Michael Unthank and Bart Hanrahan of BUR Real Estate offered the property.

The property includes two Crown Allotments and titles approximately equal in size is accessed via the Riverina Highway and Humphries Road.

The owners had held the farm for 32 years.

It is subdivided into nine paddocks and is currently running 200 Hereford cows on the point of calving.

There is no home in the farm which has been operated in conjunction with other nearby family holdings.

The standout structure on the farm is that original woolshed.

Built in the 1920s with original timber pole construction the owners had replaced most of the structure with steel framing so that it continues as a useful building used for storage and general farm purposes.

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Other structures are good working cattle yards and loading facilities with a centrally located machinery or hay shed and grains silo.

Mains power is available on the property with several higher bank sites that would ideally suit the building of a new home that would command the impressive rural vista of adjoining rural land.

There are significant water resources as well, including two paddock dams.

The property has a 32 metre deep licensed and fully equipped irrigation and stock water bore which also supplies the paddock trough system.

There are two further cased bores which are not equipped with pumps, as they have not been needed in recent years.

The sale included a 10 megalitre water right should the purchaser want to lease, buy or add additional water rights to introduce centre pivots like neighbouring farms.

Peter Ruaro of Rodwells said the owner considered that 580 acres of the 640 acre total holding could be cropped as he had planted all grain types and oats in previous seasons.

BUR agents Bart Hanrahan and Michael Unthank said it was rare to see such a large, viable and historic farm portion within 20 minutes of central Albury to come up for sale.

"The recent growth of the quality residential and services development of Albury is in a western direction towards this property," they said.

"In addition, there are significant and emerging lifestyle and rural living properties already spreading along the major Riverina Highway in the direction of this property.

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