Mereworth aggregation sold by coal miners in Southern Highlands fetches over $100m

May 11 2022 - 11:30pm

Mereworth Aggregation at Berrima in the NSW Southern Highlands has sold for more than $100 million.

Mereworth's former owners, Hume Coal, divested their significant assets after being unable to secure their mining licence in the Southern Highlands and chose Ray White's Kim Watts to represent the sale.

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Hume Coal's assets included 3232 acres and 1830 megalitres of water, which included bore and surface water.

The rumoured list of those who enquired was a veritable list of Australian agricultural who's who, including tech giant Mike Cannon-Brookes and others of his fraternity.

Property searches show the successful buyer was Mereworth Property Pty Ltd, whose sole director is Thomas Peter Crown,.

Agent Kim Watts is no stranger to high value and significant sales of property and water assets for and to some of Australia's largest companies and overseas investors.

She explains that in this instance a wholly owned Australian company was the successful purchaser.

While Ray White agent Kim Watts would not disclose the purchase price nor confirm the buyer's name but research of the multiple settlements from Hume Coal to various subsidiaries owned by Mr Crown, and water licence values show the sale price at more than $100 million for properties and water licences.

Unconfirmed reports that Peter Crown was looking to offload some of the aggregation soon after settlement were confirmed yesterday with a second property transfer processed to Mereworth Pastoral Pty Ltd with Medich Capital Pty Ltd as 100 per cent shareholder.

The Medich family who live nearby were unavailable for comment.

Mereworth House is located on land originally granted to John Atkinson.

The nine-bedroom home on 500 hectares of prime grazing land was built in the French Provincial style with a stunning Mansard roof which is typical of French architecture between the 16th and 19th century.

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