Beefed up bidding war
GOING, going, gone. A five week campaign ending in a bidding frenzy closes with two winners.
A recent auction campaign held by Ray White Bellingen's agent Rory Birt, has finally closed with two buyers emerging victorious and a sold sign out the front.
Since coming to the market, the 600 acre dairy farm at Raleigh generated plenty of interest as the large property was split in half and offered as two separate lots. This astute strategy attracted the attention of 13 bidders and a total of 57 bids.
The first of the farms on offer was 311 acres known as "The Meadows”, selling under the hammer for a whopping $3.57 million to a Victorian dairying family who intend to continue operating the property as a dairy.
The other half at 297 acres, called "The Riverview” was sold for a solid $2.5 million to local purchasers who at this stage are considering using it for cattle and general farming. .
Ray White sales agent, Rory Birt said this was Ray Whites first rural sale since the opening of its Bellingen office and he was thrilled with the result.
"Historically two of the best farms on the Mid-North Coast, the auctions of The Meadows and Riverview at Raleigh were the first for Ray White rural since the Bellingen office opened and drew a large crowd with spirited bidding on both properties,” Mr Birt said.
"Both sold under the hammer on the day with 13 registered bidders going back and forth.”