Auctioneer Henry Ferris advertised the unexpired 3 year lease on the Settlers Arms at Paterson in 1842.  The Settlers' Arms was described as being in full trade with a farm. Situated at the first ford above the navigation of the Paterson, and on the high road to Dungog, Port Stephens, Port Macquarie and all the northern settlements, and on the only road cattle could be safely driven without crossing punts. The house contained ten rooms besides the tap room; a six stall stable, with loft. The furniture, farming implements and working bullocks could be taken at a fair valuation.

The farm contained twelve hundred and sixty acres but part was let to tenants; there were attached to the premises 1000 acres, two separate paddocks large enough for a hundred mares and the out run sufficient for a milking herd, a flock of wethers and working bullocks of the establishment. The cultivation was one hundred and five acres. There was a five acres kitchen garden and orchard. A good substantial barn, granary, sale yard and other outhouses completed the property.