A large parcel of rural land in Central Mangrove has recently sold to a Sydney buyer at auction for a whopping $450,000 over reserve.
The acreage at 171 George Downes Dr, which sold for $1.75 million, was popular with buyers due to its variety of alternative uses.
“We had five registered bidders, and 30 odd bids at auction,” selling agent Geoff Tilden from Raine and Horne Gosford said.
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“In the end it came down a local and overseas bidder. There were phone calls coming through from China, and the price just kept going up. The buyers had been looking for something like this for a long time – they plan to use the property for farming. There will be a fair amount of work involved.”
Zoned Rural RU 1 Primary Production, the acreage came complete with an original four bedroom home with kitchen and open-plan lounge room featuring a combustion fire.
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There was also a large steel shed, double carport, gently undulating grasslands suitable for horse or agricultural uses, through to natural bushland, two boresand two dams.
Mr Tilden said that Central Mangrove was a popular little hub for farming and horse training.
“There is good arable land, and people love the proximity to the freeway. There are some leading horse trainers in the area,” he said.
“Central Mangrove is more affordable than places like Somersby, and there is easy access to Sydney via Calga – it is actually even closer than Somersby.”