Syndicate lists three northern NSW $90m farms
Robert Gascoyne-Cecil, the seventh Marquess of Salisbury, heads the syndicate that has listed three northern NSW farms at Barraba. Gascoyne-Cecil’s family seat is Hatfield House, at Hertfordshire, once home to Queen Elizabeth I of England.
It was 2008 when the syndicate bought the Plumthorpe and Campo Santo aggregation from retired bookmaker Bruce McHugh for $20m-plus. The seventh Marquess of Salisbury was a low-key member of the purchasing syndicate fronted by the late Sydney entrepreneur Paul Ramsay.
Robert Gascoyne-Cecil, the seventh Marquess of Salisbury.
MORE: Salim Mehajer says goodbye to McMansion, $1m staircase
$2bn Darling Harbour ‘reimagination’ to begin
McHugh’s initial ownership dated back to the mid-1980s of an 11-bedroom 1930s Spanish-Mission-style homestead with ballroom and billiard room.
The New England farm, with frontage to the Manilla River, was known for its wool growing after its selection in 1888 by Plumpton Wilson.
The Plumthorpe farm aggregation at Barraba has been listed for sale by its investment syndicate including British Lord Viscount Cranborne (Robert Michael James Cecil) and the late Paul Ramsay, the Sydney health entrepreneur. Source: realestate.com.au,
The final sale price could be close to $90m.
For many years Plumthorpe wool was bought by a leading Belgian wool buyer and woven for the papal vestments.
The current 11,300ha farm offering, which has been listed through Chris Meares from Meares & Associates, in conjunction with Charlie Hart from Hart Rural Agencies comes with $80m hopes.
Potential buyers have been pinpointed as Macquarie’s Paraway Pastoral, which owns the neighbouring Burindi Station.
The property dates back to 1888. Source: realestate.com.au,
The current farm offering sits on 11,300ha. Source: realestate.com.au,
On a walk-in, walk-out basis, Plumthorpe’s final price is likely to be closer to $90m.
MORE: RBA’s horror home price plunge prediction
