Rupert Murdoch’s daughter, Prudence MacLeod, and her husband, News Ltd director, Alasdair MacLeod, are part of the purchase of the historic rural property, Maidavale, in NSW's Clarence Valley that has sold for $16.25 million.

The 1820 hectare property about 100km west of Coffs Harbour was bought from Max Frost and Co, a subsidiary company of a third-generation family business called AFM Developments that was established in 1875, according to a report this week in The Australian Financial Review.

AFM director Robert Frost says the property was a top-tier cattle property, producing about 2000 bullocks annually that are sold in Australia as well as overseas markets.

Mrs MacLeod, the first of Mr Murdoch's six children, moved to Sydney from London about five years ago.

The Murdoch family own prized rural properties around Australia including Dame Elisabeth Murdoch’s Cruden Farm, near Frankston, Victoria, Cavan station, a cattle property near Yass, NSW, and the 760ha sheep farm, Bloomfield, on the Murrumbidgee River. - MATTHEW CRANSTON, Australian Financial Review.