THE owners of one of Goulburn's best known homesteads are still in negotiations with a Sydney man for the sale of their property, following just one bid at a weekend auction.
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South Hill homestead, near the city's southern outskirts, attracted one bid of $1.5 million from a Sydney man when auctioneer Geoff Spender called for an opening price at an on-site auction on Saturday afternoon.
Some 50 people crowded into the homestead's former ballroom for the auction by local agents Platt-Hepworth and Associates, keen to witness another chapter in the 1870 homestead's history.
The property, owned by Elizabeth and The Reverend Ian Lipscomb, includes the two-storey main house with 20 rooms, coach house, garages, artist's studio, stables/barns, shearing shed, historic chook sheds, extensive garden and a three-bedroom cottage. South Hill enjoys one of the best views in Goulburn over the Mulwaree Ponds. An application is before Goulburn Mulwaree Council to subdivide the surrounding 32 hectares into 119 lots.
Mr Spender said the potential was "enormous" and it was not often that a property came along with "two strings to its bow" - its history and development possibilities.
But despite three bidders registering for the auction, no-one was willing to go beyond $1.5 million, at least not at that stage.
"If you thought you were buying it for that, you're very optimistic," Mr Spender said.
After conferring with Mrs Lipscomb, who sat throughout the auction, Mr Spender called for a "small rise" in bids.
When it was not forthcoming, the auction ended and parties went into negotiation with the Sydney man.
After the auction, agent with Platt-Hepworth and Associates, Tronn Alstergen said he was a little disappointed, " but it's not all over yet."
Mrs Lipscomb said while the offer had increased slightly, it did not compensate for leaving South Hill after 15 years.
"We did expect more interest. The change in council has been a major factor in causing delays," she said.
"(But) a property like this is difficult to value. Someone with imagination will see the potential but they must have the money to build it up. If we had the money and were 20 years younger, we would do the things we dream about. When that person comes along, they will make it sing."
Mrs Liscomb thanked those who came, saying it was lovely that so many cared and wanted to be with them on the day.
