Couple to pocket $45M on rezoned rural farm at Nar Nar Goon

They are set to become multimillionaires but instead of splashing out on a mansion the pair are expected to continue farming.

A pair of Melbourne farmers are expected to make an eyewatering $45 million from the sale of their farmland as developers circle the property.

The husband and wife, Mirko and Heidi-Marie Blazevic are near retirement age but keep cattle and smoke eels on the outer southeast property in Nar Nar Goon.

But Melbourne’s urban growth is creeping out and the land has been rezoned to allow for new developments within the precinct.

Core Projects’ Kane Malcomson who is representing the couple has estimated the property will go under the hammer for $45 million, with both local and international interest already.

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The farmland that will be developed. Picture: Supplied

He said the farm was one of a few not already owned by developers in the area and the couple will benefit from holding out and being one of the last to go.

“Historically the south east has been the strongest performing growth corridor, both from a volume and revenue perspective, and a site of this scale within the south east with development approved just doesn’t exist,” he told news.com.au.

“At the moment properties that are still held by the original land owners are incredibly rare and a number of developers are looking to secure a site and there are not many available, so I think it will be well fought over.”

Mr Malcomson said the couple had lived on the property for a very long time and while they are set to become multi millionaires they will still continue to farm.

“Almost all the time we see farmers that we assist secure a property a little bit further out and continue to run a business,” he said.

“Many of the farmers we advise would prefer the urban sprawl would never come in their direction — it’s not often about money they are farmers and want to be left alone and continue to farm.”

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Proposed plans for the site. Picture: Supplied

Expressions of interest for purchasing the farm close on April 8 and a sale is expected to happen two to fours weeks afterwards.

“The land is zoned for residential development so pending permit approvals we would expect development or at the very least pre selling of the future estate to commence within a year or two and then construction soon after,” Mr Malcomson added.

With the land zoned for the Parkenham East Precinct Structure Plan, the property could be transformed to include 450 lots, a park, playground and some walking trails along the creek.

Another Nar Nar Goon farm reached a reported $80 million deal earlier this year.