Real Estate: Sales at Lake Birubi and Middle Creek record price tag over $2 million

The sale of Middle Creek and Lake Birubi last week set a new record for Crookwell.

Both properties fetched an eye-watering price tag of over $2 million at auction. 

The land sale of Lake Birubi has smashed records, said Ray White's Paul McIntosh.

The land sale of Lake Birubi has smashed records, said Ray White's Paul McIntosh.

The sale smashed all records in Crookwell, said Paul McIntosh of Ray White Real Estate.

The three bedroom brick cottage which is set on 321 acres sold for $2,425,000, or $7554.50 per acre.

Surpassing the record set by the sale of Weedalga in April this year.

It set a standard for the area, said Mr McIntosh, and sold for $4,305,000 by Allan McDonald of Professionals.

“Anything that is agriculturally useful, 300 acres up, there is strong interest. There is a shortage of good properties which is what makes the market strong. Even though we are in a green drought in Crookwell, there is strong interest,” said Mr McDonald.

“There was 11 registered bidders on Weedalga, which is unusual, and it sold well over reserve price,” he added.

Craig and Renee Judd purchased Lake Birubi, and it is believed they will expand their horse business which is located in Roslyn.

Middle Creek sold to a developer out of Sydney for $2,250,000, who also owns a small block of land in Bowral.

The 530 acres at Middle Creek is believed to have high performing pastures with a high capacity breeding, grazing and fattening property. It is currently carrying 120 breeding cows and 60 steers.

There were seven registered bidders on Lake Birubi, and four on Middle Creek, said Mr McIntosh.

"The auction was pretty intense, the vendor owned both properties, and there was a bit of toing and froing to get a deal together," said Mr McIntosh. 

"There are left over buyers there," he added.