Picturesque 462 hectare (1141 acre) Northern Rivers property Taylors Run has gone to contract soon after it was passed in at an auction.
The property was passed in on a vendor bid of $2.45 million at a Ray White Rural auction held in Casino on Friday.
Three of the four parties that registered to bid were active at the auction.
The contract price has not been disclosed, but is understood to be at a higher figure.
Located on Peacock Creek just south west of Bonalbo, the property is currently running 220 Angus breeders and 60 backgrounder steers.
Structural improvements include a five bay steel shed with two secure sections, a solar system and backup generator.
There is also a set of cattle yards with an undercover crush, circular race and a loading ramp.
A security camera system also helps monitor the property.
Significant work has been carried on the property including a new boundary fence, Soil improvement work, and the establishment of high-performance pastures.
Water is supplied from a number of large stock dams and the creek which runs along the eastern boundary.
The rural property also offers a number of lifestyle advantages.
There are a number of potential building sites on the property that capitalise on the expansive views of the ranges and valleys.
Adding to the appeal of the property as an investment is a development approval is in place for a three lot subdivision.
There is also a 10 year private native forestry plan in place, which would potentially enable an income stream from timber harvesting.
Marketing was handled by Bruce Birch and Andrew Starr, Ray White Rural NSW.
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