The 290-acre property Greenswamp on the southern outskirts of Tenterfield moved into the hands of a Northern Rivers buyer on Friday, February 28 after being passed in at auction for $1.16 million without meeting its reserve.
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Confident of the property being sold under the hammer, some furtive phone negotiations between agent Steve Alford of Alford and Duff First National Real Estate ensued with the eventual buyer, who had indicated 'conditional interest' ahead of the auction.
Mr Alford was able to share a positive result with the 50 auction attendees, including a number of local property owners who founding the bidding too rich for them. He declined to say the sale price.
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Six registered bidders vied for the well-position property. Mr Alford credited views overlooking Tenterfield Dam and the ease with which Greenswamp weathered the drought, watered by double-frontage to Tenterfield Creek and seven dams, with the massive interest it had attracted locally and beyond.
It was being sold on behalf of the estate of Muriel Murphy who died recently at Haddington at the age of 103, arguably Tenterfield's oldest resident. It is the first time the property has been offered for sale in 60 years, Mr Alford said.
Greenswamp comprises four titles with prospects of the titles being offered separately before the sale of the entire property was achieved.
"It was a successful outcome in the end," Mr Alford said.
The new buyer intends to run cattle, with Greenswamp have a carrying capacity of 70 breeders.
