Woodlands at Bungendore near Canberra sold
The Hyles family has sold Woodlands, its 1157-hectare grazing property in Bungendore near Canberra for $3.53 million.
It came after more than 150 years of ownership.
Woodlands sold via online auction to an undisclosed buyer with the winning bid $525,000 above the reserve price
The property includes an original four-bedroom 1870s homestead built by Richard Hyles for his Australian wife Jessie, and their 10 children.
The Hyles, who came to Australia from England in 1836, were pioneer settlers in the region.
Woodlands has been passed down through five generations of the Hyles family.
Meares and Associates offered the 1157 hectare property at online auction on November 15-16.
Situated eight kilometres south of Bungendore with views northwards to Lake George, Woodlands is under three hours’ drive from Sydney.
Although still managed successfully as a commercial grazing operation, based on Merino sheep, the property has obvious potential for subdivision up to a maximum of 14 lots, to meet the steady demand from Canberra for small holdings.
More than 200,000 pine trees have been planted, either in a 120ha dedicated woodlot or in strategic shelter belts.
Average rainfall is 640mm and the property is watered by 43 dams, an equipped bore and semi-permanent creeks.
As presently managed, “Woodlands” is operated as a woolgrowing concern, with a self-replacing Merino flock of Hazeldean bloodlines producing adult fleeces of 4.5-5kg and 19-19.5 microns.
In recent years a proportion of the ewe flock has been mated to Border Leicester rams to produce first-cross lambs, the ewe portion of which has commanded ready competition at the annual regional summer restocker sales.
The property’s estimated carrying capacity of 2600-3000 DSE offers considerable upside potential, with further investment in pasture establishment and infrastructure.
Bidding for Woodlands had been expected to fetch $2.8 million to $3 million.
