Massive Southern Tablelands estate Lake Bathurst sold for $8.6m

Neurosurgeon John Sheehy and his wife, Sue, have sold Rotherwood, their Lake Bathurst estate.

It has been bought by the veteran property developer Roy Medich for $8,556,000.

The 429ha Southern Tablelands property, 40 minutes south of Goulburn, comes with an 1840s homestead with a dining room that can seat 24 guests, and is supplied by a commercial-grade kitchen.

It also has seven bedrooms and seven bathrooms.

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It was sold on delayed settlement terms last October, after three decades of ownership.

Sheehy, who planted 15,000 natives to create natural boundaries and windbreaks, had bought it in 1992 from businessman Robin Nisbet for $850,000. Some two years prior, Nisbet had knocked back $1.1m.

Sheehy used the 26 paddocks and 14 dams to run the Limoges Limousin stud, carrying some 300 cattle.

Its pastoral land suits cattle breeding and sheep production, having benefited from two decades of its pasture improvement program.

The Sheehy couple recently offered 400 furniture, fine art and library pieces including French furniture and Huguenot silver. One of the pricier items was a book called The Pastoral Homes of Australia, published in 1914, which fetched $1500.

Lake Bathurst’s last big sale was $2.85m in 2015 when the eight-bedroom Georgian-style homestead St Clair, on the 476ha Bongalabi estate, was sold.

The house had been built by Captain Fred Badgery in the 1880s, before passing into the hands of the Maple-Brown/Faithful and the Crace families.

It was marketed as carrying 600 young cattle, rising to 800 in spring on its 19 paddocks when sold by Peter and Margie Mullins. He was a former chief executive for Greenpeace and Margie was an official in the Department of Defence.

The property, with 28 dams, was bought by the Stewart family.

According to PropTrack, the median house price in Goulburn is $615,000, up 8 per cent over the past 12 months.

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