Australian rich lister sells 97-hectare farm in the Southern Highlands to Racing NSW

Inside Australian rich lister’s state-of-the-art thoroughbred farm in the picturesque Southern Highlands as it’s sold to Racing NSW for just under $25million

Australian rich lister Paul Fudge has sold his 97-hectare property in the NSW Southern Highlands to Racing NSW.

The multimillionaire Pangaea Resources founder and his wife Angela listed the Waratah Thoroughbreds property on Bong Bong Farm in Moss Vale for $35million last month.

On Monday, Domain reported the price was reduced to just under $25million – the forthcoming settlement will reveal the exact sale amount.

Country life: Australian rich lister Paul Fudge has sold his 97-hectare property in the picturesque Southern Highland. The property, Waratah Thoroughbreds, in Moss Vale was listed for $35 million

Waratah Thoroughbreds is considered one of the best horse racing facilities in the state and will continue to be used by Racing NSW as a training and education centre.

The centre can house up to 100 horses, with four large barns and stables designed by Ladd Hudson Architects.

There is also a parade ring, two indoor arenas and 43 paddocks for horses to roam around in. 

Racing NSW: On Monday, Domain reported the price of the property was reduced to $25million. It was sold to Racing NSW. Pictured is the Chief Executive of Racing NSW Peter V'Landys. Daily Mail Australia is not suggesting MR V'Landys purchased the Fudge property

Racing NSW: On Monday, Domain reported the price of the property was reduced to $25million. It was sold to Racing NSW. Pictured is the Chief Executive of Racing NSW Peter V’Landys. Daily Mail Australia is not suggesting MR V’Landys purchased the Fudge property

Training grounds: Waratah Thoroughbreds is considered one of the best horse racing facilities in the state and is expected to continuing being used as such by Racing NSW. The centre features a parade ring, two indoor arenas and 43 paddocks for horses to roam around

Training grounds: Waratah Thoroughbreds is considered one of the best horse racing facilities in the state and is expected to continuing being used as such by Racing NSW. The centre features a parade ring, two indoor arenas and 43 paddocks for horses to roam around

Well designed: The centre can house up to 100 horses with four large barns and stables designed by Ladd Hudson Architects. Among the modern equine facilities that also come with the property are an equine spa, training treadmills, as well as a turf and sand training tracks

Well designed: The centre can house up to 100 horses with four large barns and stables designed by Ladd Hudson Architects. Among the modern equine facilities that also come with the property are an equine spa, training treadmills, as well as a turf and sand training tracks

The property is equipped with modern equine facilities, including a hyperbaric chamber, equine spa, training treadmills and turf and sand training tracks. 

There are four workshop sheds, a quarantine facility, vetting and farrier amenities. 

The property encompasses five residences, two fully renovated houses – including a main homestead with a swimming pool and tennis court – and three staff houses.

Bright: The property comes with includes five residences, including two fully renovated houses. The main homestead. One of the properties features a stunning kitchen with an island table

Bright: The property comes with includes five residences, including two fully renovated houses. The main homestead. One of the properties features a stunning kitchen with an island table 

Cosy space: In addition to the renovated houses are three staff houses. One of the residences features a cosy living room

Cosy space: In addition to the renovated houses are three staff houses. One of the residences features a cosy living room

Break room: The property also appears to include a staff area - with a lounge and kitchenette - above the stables

Break room: The property also appears to include a staff area – with a lounge and kitchenette – above the stables

Paul’s ill health spurred the property listing back in April.

‘Angela and I are very proud with what we have created, but it is now time for us to hand the reins over to a new party to commence the next chapter at Bong Bong Farm,’ he said in a statement at the time.

Paul is the founder of Pangaea Resources and was estimated to have a net worth of $672 million, according to this year’s top 200 Australian Financial Review Rich List. 

Work space: Elsewhere above the stables appear a stairwell that leads down to what appear to be offices for staff

Work space: Elsewhere above the stables appear a stairwell that leads down to what appear to be offices for staff

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