TWO VYING FOR HOMESTEAD
But buyers still keen to get property
TWO interested parties are currently in negotiation for ownership of an historic Lismore property after it was passed in at auction on Saturday.
Monaltrie Homestead, built about 1861 and first owned by Lismore’s founder William Wilson, was passed in after bidding reached $710,000, falling well short of its reserve price of $1.2 million.
Ian Weir & Son Real Estate Agents’ Neil Short said there were five registered bidders with three participating in the 70 to 80-strong crowd.
“Bidding started at $600,000 and went through to $710,000,” he said.
“I did not use a vendor’s bid, we passed the property in and have been in negotiation with two parties since.”
While Mr Short disclosed one party was a near neighbour and the other from out of the area, he declined to give more details.
However, he said there was another buyer seriously interested in acquiring the historic 39.58ha property.
“A third party who was unable to attend the auction is waiting in the wings,” he said.
Owner Myrline Hensley and some of her children – including current resident Christopher Hensley – were present at the auction.
Sisters Anne Williams, Gabrielle Hensley and Sue Hamilton said they had many fond memories of life on the property, which their cattlefarming grandfather bought almost 60 years ago.
“It has been in the family since 1960,” Ms Williams said.
She said the predominantly flood-free land, its proximity to Lismore’s CBD and the stunning rural outlook meant there was no shortage of possibilities for the block.
STILL ON THE MARKET: Christopher Hensley on the veranda of Monaltrie Homestead, which his family put under the hammer at an on-site auction (below) at the weekend. Built about 1861 and his family has owned the property for nearly 60 years.