Fernhill Estate

<html><body>
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 <a href="https://www.propertyobserver.com.au/expected%20to%20be%20close%20to%20that%20figure." target="_blank">sale last year</a> 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<a href="https://www.urban.com.au/news/77487-angas-loses-another-fernhill-mulgoa-buyer" target="_blank"> walk away.</a>
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.
 
 
 
 
</body></html>

firstname1-iYD4UYzvBa

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

<html><body>
The debenture company Angas Securities hopes it is close to securing the sale of the Fernhill Estate at Mulgoa on the outskirts of Sydney.
The intending buyer is undisclosed.
“I expect to be meeting with this party and solicitors next week to finalise negotiations surrounding a small number of contractual issues,” Angas chairman Andrew Luckhurst-Smith told The Australian.
Sydney's Rookwood General Cemeteries Reserve Trust walked away from plans to buy Fernhill last November for close to $30 million amid plans to expand.
The listing agent Ken Jacobs, of Christie's International, was then dealing with parties who had expressed interest in the property should the sale not proceed.
Fernhill, the Georgian mansion in Mulgoa on the outskirts of Sydney, was the former home of bankrupt property tycoon Warren Anderson.
It was then under the control of SimonTripp who had substantially upgraded the estate.
But Tripp quit the seven bedroom sandstone home and the subdivision partnership in 2016.
The Australian advised the struggling debenture group told its investors that it had agreed terms with an Australian buyer.
It for the section known as central Fernhill, not the eastern portion of the estate.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Hopes held by Angas that Fernhill at Mulgoa is close to being sold again

<html><body>
Fernhill on Sydney’s western outskirts has been resisted for sale after its prospective buyer failed to secure loan and state government approvals to be redeveloped into a cemetery.
Rookwood General Cemeteries Reserve Trust had agreed to purchase the historic Mulgoa property in March for $30 million, but their conditional offer lapsed on Tuesday after Penrith city concerns of the impact of a cemetery on the heritage landscape surrounding the 1840s-built mansion.
The estate is best known as the former home of property tycoon Warren Anderson before bankruptcy forced him out and the keys were handed over in 2011 to his financier Angas Securities.
Businessman Simon Tripp and his wife Brenda were reported as buyers in 2012 after he lodged a caveat on the title claiming an interest, but their arrangement with Angas faltered.
In a statement this week Rookwood General Cemeteries Reserve Trust chief executive George Simpson said "with no formal approval from the Minister at this time RGCRT is unable to proceed with the purchase of Fernhill estate. As such, we understand the vendor will place the property back on the market.”
Listing agent Ken Jacobs, of Christie’s International, appears set to resist Fernhill which was built by the Cox family in the 1840s and remained in the family until 1896 when it was sold to the Wright family, of the Wright, Heaton and Company carrying firm.
The eight-bedroom homestead has a 16-seater dining room and a ballroom
The original stables were home to two Melbourne Cup winners, Chester in 1877 and Grand Flaneur in 1880, and the sandstone building next to them dates back to 1812.
Last year and again earlier this year debenture company Angas ­Securities faced the prospect of receivers to oversee its return of the $135 million owed to investors, but fear of a fire sale saw Angas Securities retain control of its flagship fund.
Some 2000 investors were told they must to wait another two years for their money to be returned given Angas's borrowers had fallen into arrears.
“Almost all of Angas’ remaining loan assets are non-performing and all borrowers in respect of loan assets are now subject to external administration,” it told investors.
Warren Anderson told The Australian he had written letters to politicians at all levels of government in an effort to save the estate from being turned into a cemetery. “I’m ­absolutely happy,” he said. 
He praised Minister for Western Sydney Stuart Ayres, saying he had “seen the light as far Fernhill is concerned” by halting Rookwood’s plans.
 
</body></html>

Ailing Angas loses yet another Fernhill, Mulgoa buyer

<html><body>
Rookwood General Cemeteries Reserve Trust (RGCRT) is conducting due diligence as it explores the option of purchasing the central parcel of the historic Fernhill Estate at Mulgoa being sold by Adelaide-based finance house Angas ­Securities for about $30 million.
“Our objective is to maintain the homestead and heritage landscape, ensuring it is conserved for future generations. To support this initiative we would in turn utilise the undeveloped and non bio-banked sections of the property as a predominantly lawn style cemetery,” the trust says on its website.
The trust is organising meetings from May 16 to May 31 with the Mulgoa community on its plans to use undeveloped areas of the property as a heritage cemetery.
The trust plans to preserve the homestead and heritage landscape and would create a buffer of more than 25 ha around the Georgian mansion and another 220 ha of bio-banked land on the site at Mulgoa in far western Sydney.
The rest of the property would become a predominantly lawn-style cemetery.
The Rookwood trust is buying the estate as cemeteries across Sydney are expected to be full in the next 20-30 years.
“We pride ourselves as heritage custodians and we welcome the opportunity to conserve Fernhill in the same way that we conserve Rookwood,” RGCRT chief executive George Simpson said.
The trust, which manages more than two-thirds of Sydney’s Rookwood Cemetery, said it was determined that facility would ­always be available for burials, but said developing a heritage cemetery at Mulgoa “will provide the community with another option (for) a dignified and historically significant final resting place”.
“We are committed to implementing strategies that will enable us to meet the needs of our vast multicultural communities well into the future. One of our longer term solutions in this area is the acquisition of new land,” Simpson said.
Angas last month revealed plans to carve up parts of Fernhill Estate in efforts likely to reap about $60 million in total, including proceeds from smaller land sales and bio-banking deals, according to a report in The Australian.
Fernhill, the former home of bankrupt property tycoon Warren Anderson, was until last year controlled by a venture between Angas and businessman Simon Tripp, and will now be subject to a six-month period of due diligence.
Agent Ken Jacobs of Christie’s International declined to comment to The Australian but the vendor last month confirmed interest from a purchaser.
The Mulgoa Progress Association is opposes turning the historic Fernhill Estate into a general cemetery.
The association’s president Wally Cox was cited by The Daily Telegraph as saying that a lawn cemetery on a heritage site would be destructive.
An eight-bedroom mansion and outbuildings, constructed over four years, are on the portion of the property the trust is eying.
The 1830s heritage listed homestead is complete with a 16-seat dining room, ballroom, 12 sandstone fireplaces and a horse racing track and stables that, over the centuries, have been home to two Melbourne Cup winners.
“RGCRT confirms that a sale has not yet occurred, but it has entered into a six-month exclusivity period which will allow the trust to conduct the required due diligence process, commencing with a period of community consultation,” the trust’s spokeswoman told the Penrith Press.
Fernhill was built by 20 Irish stonemasons following a land grant by Gocernor Macquarie to Colonial Magistrate William Cox in 1810.
Penrith Cemetery has “at least 40 more years till it reaches capacity”, Penrith Council’s spokesman previously told the Press.
“There are approximately 10,500 interred at Penrith, either buried or ashes placement,” he said. 
<img src="https://cdn.newsapi.com.au/image/v1/87451696849df22a1ad18c7ee5a52a59?width=650" width="650" height="366">
Trust CEO George Simpson said Rookwood has been exploring options outside Lidcombe “for many years now”, particularly “larger undeveloped areas in the west”.
He said Fernhill was zoned for cemeteries.
In response to the concerns voiced by the Mulgoa Progress Association, Simpson said Rookwood Cemetery, which has been operating since 1867, is a heritage site too with many buildings within the site dating back to the 1870s.
“We pride ourselves as heritage custodians and we welcome the opportunity to conserve Fernhill in the same way that we conserve Rookwood.”
Fernhill <a href="https://www.urban.com.au/news/52992-fernhill-at-mulgoa-boomerangs-back-onto-market" target="_blank">has a great thoroughbred history</a>, as one of the greatest racehorses that ever trod the Australian turf, Yattendon died at Fernhill in 1880.
Winner of the Sydney Cup in 1866, Yattendon produced Melbourne Cup winners Chester (1877) and Grand Flaneur (1880).
Fernhill was built by William Cox, an engineer who oversaw the road that passed over the Blue Mountains, for his son Edward.
It remained in the ownership of the Cox family until 1896, when it sold to the Wright family, of Wright, Heaton and Co, who billed their firm as the most extensive carrying firm in the colony.
The Bachelor filmed the finale at Fernhill Estate when Bachelor Sam Wood chose his leading lady Snezana Markoski.
<img src="https://cdn.newsapi.com.au/image/v1/c5aa737fa539b00417809160d8a9af6d?width=650" width="650" height="488">
  
</body></html>

Fernhill Estate

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Fernhill Estate

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News