Silvermere Farm sold to European buyers

The multi-million dollar sale of Silvermere Farm to buyers from Europe could spell the end to Narooma being one of the best kept secrets on the South Coast, if not in Australia, according to real estate agent David Nolan.

Contracts for Silvermere Farm - a 124-hectare property with three homes, Pacific Ocean views and Corunna Lake frontage - were exchanged last week, with Mr Nolan confirming that the property sold "very close" to the asking price of $4.75 million.

Mr Nolan, of Webster Nolan Real Estate in Sydney, listed the property - which is a working Angus cattle and Dorper sheep enterprise - with John Murray from Whale Coast Realty, Narooma, in October last year, after it was previously with Melbourne agents in 2014. 

"It demonstrates that people with a high net worth are prepared to travel, even overseas, to find their Utopia", Mr Nolan said of the property, which has views to Montague Island.

Mr Murray said the sale was among the biggest in monetary terms in Narooma's history; Sydney mogul mogul Justin Hemmes purchased Glasshouse Rocks, south of Narooma, last year for a reported $7.5 million.

Silvermere Farm's new owners visited Australia a couple of months ago and he personally escorted them around the property, he said. Their identity and the final price are being kept confidential for now.

"The listing generated fantastic interest with about 200 inquiries internationally and from within Australia," he said.

Silvermere Farm belonged to retired lawyer Denis Davies and his wife Kerry. Apart from the architect-designed main residence, the property has manager's quarters and guest accommodation, giving it a total of 10 bedrooms and six bathrooms.

Mr Nolan told the Narooma News that he "fell in love" with the Narooma district when completing the sale of Bodalla Company in 1989.

"We've sold quite a lot of properties in the Narooma area and there are still a lot of people looking," he said. 

"The secret could very well be out."