Gretna's Norton Mandeville farm sells for $6.5 million

Gretna's Norton Mandeville farm sells for $6.5 million
Gretna's Norton Mandeville farm sells for $6.5 million

Tasmania's historic 2,154-hectare farm, Norton ­Mandeville in the Derwent Valley, has been sold for $6.5 million.

Norton Mandeville, which dates back to 1820 when pioneer William Orr built the first homestead, sold through Colliers International agents Tim Altschwager and Jesse Manuel.

They suggested the sale was a stand-out in a tough ­Tasmanian market where values have dropped slightly in the past few years.

A local Tasmanian farmer has bought the it from a US investor who bought the property in 2007 for $8.1 million. 

Located at Gretna, which is less than an hour’s drive from Hobart, Norton Mandeville farms poppy and lucerne crops and grazes sheep.

“This transaction is a stand out in a tough Tasmanian market,” Tim Altschwager said. 

The property attracted substantial interest from a wide range of parties including parties looking at the property for dairy conversion, as well as Chinese investors looking to break into the market because they like the Tasmanian brand.

Pioneer pastoralist Joseph Clarke and his wife Caroline who were associated with a Toorak mansion had owned the farm in the mid-1800s.

news@propertyobserver.com.au

    

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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