TWO historic thoroughbred horse studs at Scone in the NSW Hunter Valley are for sale by high-profile racing identities Geoff and Beryl White.
The owners are asking about $12 million for the adjoining properties, Bhima and Invermien, if sold as one lot, or about $6.2 million each if sold individually.
Bhima covers 160 hectares and includes a 1910 homestead with the same name. The property has a 400 megalitre irrigation licence from two wells, as well as stables and staff houses.
The Whites bought Bhima in 1994 for $4.5 million from long-time owner David Bath, son of Vivian Bath, who originally developed the property as a thoroughbred stud after World War II.
The Whites bought neighbouring Invermien, also in 1994, from hotelier Brian Robinson, who had himself bought it only the previous December for $1.3 million.
Invermien is a 313-hectare property with 600 megalitre irrigation licence and facilities to irrigate most of its main paddocks. The heritage-listed home dates back to Scone's establishment.
The couple has been using the combined properties to breed and train successful racehorses.
They have raised more than 200 race-winning horses at the property, including Yippio, Eremein, Iglesia and Dandify. Horses raised at the stud have won a total of $27.5 million.
The sale comes as the price for yearlings, which are raised and prepared at the properties, begins to recover after suffering substantial declines during the global financial crisis.
The studs are being jointly marketed for sale by agents MacCallum Inglis and Landmark Harcourts.
Michael Burke of MacCallum Inglis said the properties had already been inspected by several interested parties from the thoroughbred industry, local studs and newcomers looking to breed racehorses. There had also been interest from international buyers, he said.
"The offering of Bhima and Invermien is the most significant property to be offered in the Scone district in the last 10 years," Mr Burke said.
After the properties have been sold, the Whites plan to look for another, smaller property in the area to develop a stud farm with about 30 or 35 mares.
They sold a penthouse apartment in the Quay building in Circular Quay in September for $9.85 million after asking $20 million.
Mr White is also involved with engineering company White Industries, which has worked on the construction of well-known public buildings including the National Art Gallery and High Court of Australia in Canberra, extensions to the NSW Art Gallery, Fairfield Hospital in Sydney and Indooroopilly shopping centre in Queensland.
