Foxlow at Bungendore fetches $15 million for Falkiner family
Foxlow, the Bungendore farm on the Molonglo River, outside Canberra has been sold today for $15 million.
The single storey 1920s Howard Joseland-designed homestead in landscaped gardens sits on 7500 hectares, 20 minutes from Queanbeyan.
The seven bedroom homestead featured in Some Southern Homes of NSW by G Nesta Griffiths who mentioned that one year the Osborne's horse, Vixen won the Sydney Cup. In her 1976 book she recalled that she stayed there in 1928 remembering the stud of Percherson horses. There is also a converted stone barn designed by architect Cyril Ruwald offering separate self-contained accommodation.
It sold through Ray White Rural agents Terry Brennan and Bruce Gunning with potential residential subdivision prospects, but will be retained as a grazing operation by its Australian buyer, one of the 10 parties who inspected the property.
Already 16 eight hectare blocks had been previously subdivided and sold.
Agents had estimated the carrying capacity of Foxlow as about 30,000 dry sheep equivalents.
The initial pre-auction guidance had been $15 million plus. There was a vendor’s bid at $14.5 million before the one knockdown bid of $15 million.
Brett Falkiner has owned the property since the early 1960s after his grandfather F.B.S Falkiner (the son of F.S. Falkiner) had purchased the property in 1920 as drought relief pasture.
Before the Falkiner's it was the Osborne family, and the before that the Rutledge family.
John Hosking, the first mayor of Sydney, and had given the property its name, after his wife, Martha Foxlow Terry, daughter of Samuel Terry, in the 1830s.
John Hosking, whose legacy lives on in the form of Hoskinstown which was named after him, became insolvent in 1843 and much of his property was sold.
The Falkiner's history dates back to sheep-farming in Tipperary, Ireland.
Foxlow was also known for its Red Poll cattle and a Percheron horse breeding operation.