Mulgoa estate Fernhill sold to the NSW Government for over $27 million

The NSW state government is believed to have bought the Fernhill trophy estate Mulgoa, on the outskirts of Sydney, for $27.25 million.

The 384 hectare property was initially listed for $30 million in 2016, with a sale last year expected to be close to that figure.

It was set to become a cemetery, although Fernhill never changed hands after local objections put an end to the sale, which saw Sydney's Rookwood General Cemeteries Reserve Trust walk away.

The state government are yet to announce what they intend to do with the property.

The property, the former home of property tycoon Warren Anderson, was sold by struggling debenture company Angas Securities after its deal with Simon Tripp failed to proceed to  final implementation.

Christie's International agent Ken Jacobs had the listing of the Georgian mansion.