Staff reporterNovember 12, 2017
Steve and Liz Phillips, from the Yarrawonga Merino sheep stud in southern NSW, have snapped up the 1678-hectare mixed farming rural holding Woodlea Park in Yass in the southern tablelands of NSW.
They paid $11.75 million for the high-quality beef and prime lamb property, set 300 kilometres from Sydney.
It sold at $950,000 over the reserve price when auctioned with 10 registered bidders through Meares Online Auction.
"Given the absolute shortage of quality rural properties today the result showed the underlying strength and confidence in the sector. There is no doubt with ongoing strength in commodity prices they will continue to underpin land values," Meares & Associates' Chris Meares said.
Comprising 1,678.2 hectares (4,146.8 acres) the property has been held by the current owners for close to 60 years.
Investor Margaret Doyle, who divides her time between Canberra and the US state of Montana, was the reluctant seller.
It had been purchased by her father in 1959.
