Green farming investors Wilmot Cattle Company have purchased one of the oldest original properties in the popular Inverell area of New South Wales.
The 2,575-hectare (6,363-acre) Paradise Creek resort was offered for sale by LAWD at the end of last year.
No price has been offered for the sale to Wilmot which has recently expanded its New England portfolio with Wilmot near Ebor, Woodburn near Walcha and Morocco in Gunnedah.
Last year Wilmot celebrates reached an agreement with tech giant Microsoft to sell about half a million dollars worth of carbon credits from its properties.
Paradise Creek operated 500 cows, 1500 merino ewes and 700 ewes.
The property has a long-term average carrying capacity of 18,000 to 22,000 dry sheep equivalents.
Paradise Creek holds a special place in Australian history. It is famous for at least two paintings by Tom Roberts – bailed out (1895) and In a corner of Macintyre (1889).
LAWD Director Simon Cudmore said the property attracted more than 80 inquiries from multiple states.
It was the first time it had been sold in 117 years.
“Properties of such quality and scale are rare and rarely come to market in the New England area,” Mr. Cudmore said.
He said the station’s reliable rainfall, abundance of water and quality soils, coupled with a reputation for producing high-performance sheep and cattle, made it a major opportunity for a range of businesses to invest.
First settled in 1839, it has been owned by descendants of the Nicholas family since 1906.
Ben Swan, who is the fourth generation in the family business, said while his family was sad to say goodbye to such an iconic piece of history, they were delighted to pass that legacy on to Wilmot Cattle Company.
“We are incredibly proud to see the hard work of our family and the lifelong efforts of my late father Bill come to fruition as Wilmot, following their due diligence, has recognized Paradise as a worthwhile investment,” Mr. Swan.
“We are excited to see what Wilmot can achieve with Paradise Creek Station in the future, however, the story of this property will never be lost on us.”
Wilmot managing director Stuart Austin (pictured above) said Paradise Creek has completed the company’s recent phase of expansion.
“Paradise Creek Station is a good fit for our acquisition strategy because it had the balance of being geographically diverse with our other assets, while being close enough to fit the rest of our business,” Austin said. .
MORE READING: The iconic cattle station is back in Australian hands.
“Over the next six months, we will establish our development plan, and our goal is to establish a breeding herd in some of the more rugged Paradise Creek country, while further developing the open country so that the property can trade livestock all year round.”
Austin said the five-year plan will be rolled out gradually to establish the infrastructure needed to introduce rotational grazing, including improved pastures, fencing and an extensive water system.
“Our core business is cattle ranching and trading, but through our regenerative practices of restoring the ecological function of our landscapes, carbon credits can be a co-benefit,” he said.
Mr Austin said Paradise Creek was a long-term investment.
“We have the Swan family to thank for their dedication to their land, and I wholeheartedly see how special the Paradise Creek resort is to them, having now spent time on the property,” he said.
“This is a long-term investment for us, and we could own it for the next 117 years.”
Paradise Creek was originally settled by Tom Hewitt for Pastor Henry Dangar in 1839, who amassed over 200,000 acres of land in the area.
In 1875, a part was selected out of exploitation. In 1906 the Nicholas family began keeping it, which has continued to this day through the Swan family.
The resort has a four bedroom, two bathroom farmhouse with panoramic views across the valley. There is also a machine shed, a silo and a 700m airstrip.
LAWD commercialized Paradise Creek through an expression of interest process that closed on December 9.
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The story Pretty as a picture Paradise Creek sold to carbon conscious farmers first appeared on farm online.