A FORTHCOMING receivers' property auction at Goulburn is generating diverse and widespread interest for its heritage features, grazing potential and investment value.
The property, "Norwood", is one of Goulburn's most historic, having been an original 1836 land grant to William Lithgow, the colonial auditor-general, before being taken over by Francis Macarthur, a nephew of John Macarthur of "Camden Park".
Today a property of 695 hectares (1717ac), it is being marketed by Landmark for receivers of Eastmark Holdings, the Korean-based property development group placed in receivership in October last year.
Under Eastmark's ownership, the property achieved prominence as home of the successful Nbar Angus stud, which was established in 2003 and won major royal show honours under its managers, Tim and Jemma Reid.
The stud was dispersed at a well-attended sale on the property two weeks ago, at which 125 females sold to a top of $22,000, and now the property itself is booked for auction in Goulburn on April 9.
Fronting the Middle Arm Road 10 kilometres north of Goulburn, "Norwood" is a substantial grazing property for its handy location, and has carried both sheep and cattle successfully for its various owners.
Notable owners included the Kennett family, who bought "Norwood" in the mid-1930s and held it for many years, breeding racehorses and establishing the Reading Border Leicester stud, among other activities.
Before that it was owned by Wallace Wheatley - a member of the legendary Goulburn-based Wheatley agency family - and earlier still by the Berryman and Cooper families.
In the 1960s "Norwood" was carrying 2800 sheep and 240 head of cattle, although today - with work needed on weed control and pasture improvement - its carrying capacity is estimated at 300 cows and calves.
A feature of the property is its 300-plus hectares of arable flats flanking the Bumana Creek. From there the country rises to gentle slopes of mostly native pastures to timbered hills.
The heritage interest in the property stems from its two-storey Georgian homestead, built in 1837 of locally-made brick with cedar joinery, and although not occupied in recent years, is well-suited to restoration.
Dating from the same period are a brick shearing shed/stable and a three-bedroom double-brick house now used as a manager's residence.
Complementing these heritage structures are modern cattle facilities comprising steel cattle yards and a stud handling area, as well as a machinery shed and hay shed.
Apart from its intrinsic features as a grazing and/or lifestyle property, "Norwood" is being seen as an ideal land bank investment, with its 3km road frontage positioning it ideally for possible future subdivision.