Originally part of Gostwyck Station, Deeargee Station and its unique octagonal woolshed gained their name from the old Gostwyck wool brand, DRG, which stood for "Dangar, Gostwyck". The woolshed was built in 1872 replacing an earlier shearing shed that had been destroyed by fire.
Designed and erected by Alexander Mitchell, who also built McCrossin's Mill in Uralla, the woolshed is erected on brick pillars with successive roofs of galvanised iron. The side walls contain large amounts of glass. The woolshed has all facilities required for shearing, pressing, bailing, sorting and other operations. It even has a lightning conductor.
The Deeargee Woolshed is still in use today and, although not open to visitors, it is easily viewed from the roadside.
Today the Gostwyck and Deeargee properties are known for producing some of Australia's finest wool. Both are 11 kilometres from Uralla on the Gostwyck Road. The Gostwyk property also hosts the picturesque All Saints Anglican Church, more commonly known as Gostwyck Chapel.