A property in Gunning has sold for more than half-a-million dollars above the expected price.
'Castle Hill' at 164 Castle Hill Road sold for record $2.375 million at an auction on November 5. Based on previous sales in the area, Elders' real estate agent Lauren Kennedy was expecting the price to come in around $1.8 million.
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The record sale came in at $13,121 per hectare beating the previous record of $9958 per hectare set in November 2020.
The deceased estate comprised of 181.54 hectares, a 1930s homestead, a heritage shearing shed with hand sawn timber poles and several other outbuildings and sheds.
Ms Kennedy said a huge amount of interest was shown right from the beginning.
"Despite some wet weeks in among the auction campaign, limiting access to many of the paddocks, we were still able to get big numbers through, 45 in total," she said.
"This was the highest amount of private inspections that I have ever had throughout any auction campaign. A tour of this property took 1.5 hours."
"These numbers may seem small to those running auction campaigns on residential properties in the city - but this was definitely an eye opener for our area."
The new owners plan to use the property to run cattle.
Ms Kennedy said the family was from Sydney but they had owned farming land in the Goulburn area for the past 10 years, with their main property in Tallong.
"They purchased the property to expand their cattle breeding operation," she said.
"They are very happy with their purchase and are looking forward to settlement day to get some cattle over there as soon as possible."
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