VERSATILE Southern Tablelands grazing property Hillview Park has sold soon after it was passed in at auction on Wednesday.
Auctioned by Elders, the 911 hectare (2251 acre) property was passed in for $7.8 million. However, the Goulburn property sold soon after for a considerably higher, but undisclosed, figure.
Hillview Park was offered with an approved, but still to be constructed, 13 turbine windfarm.
Pre-auction expectations had the property valued in the up to $10m range.
The windfarm agreement is a 30-year lease (with a 30-year option) and is set to provide substantial passive income.
The wind farm, Crookwell 3, will deliver a substantial passive income of about $235,000 a year indexed to CPI.
In addition, a Transgrid powerline easement is to be created over the property with an agreed one-off payment of $500,000 to be passed on to the incoming purchaser.
Well suited to cattle breeding, wool and lamb production, the picturesque property offered by Donoghoe and Son comprises of undulating to low hills, with red basalt, friable clay and sandy loams.
Hillview Park is currently running 200 Angus breeding cows and 1500 Merino ewes.
There are 23 well-fenced, main paddocks, with some 121ha currently cropped.
There is a 36 megalitre irrigation licence as well as a 6ML stock and domestic licence, 40 dams and frontages to Pejar and Steves creeks.
The four bedroom colonial, bluestone and brick homestead was built by convicts circa 1840 and is a fine example of historic architecture.
The marketing of Hillview Park was handled by Mike Clifton and Richard Gemmell from Elders NSW Rural Real Estate.
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