Bordertown and Gippsland farms sold to locals for $30,000-plus a hectare

A Bordertown Federation homestead and a Gippsland farm have been sold to local buyers in recent deals worth more than $30,000 a hectare.

Local buyers have shown their willingness to pay for rural Australian property, with two highly sought-after farms sold in recent deals worth more than $30,000 a hectare.

The 186ha cropping farm, Olive Grove at 763 Frances Rd, Bordertown has been sold in a deal worth $30,241 a hectare.

A local farming family snapped up the South Australia-Victoria border property for $5.6m, taking ownership of the first-class cropping country and the 1902 Federation homestead.

Nutrien Harcourts SA selling agent Geoff Watts said the sale price was one of the highest recorded in the district.

The Federation homestead and cropping land were offered as a whole or separately, gathering significant interest and multiple offers for each part and for the property as a whole.

“This property has extremely good cropping soil, you could grow just about anything on it,” Mr Watts said.

The 1902 Federation homestead and 186ha of cropping land was included in the sale.

The homestead was professionally restored in 2008 with the property remaining in the vendor’s name for more than 150 years.

Over the past century and a half the property has produced wool, prime lambs and mixed crops such as wheat, barley, beans, lentils and canola.

670km to the east a local buyer also paid top-dollar, this time to secure a tightly held irrigated farm in Gippsland.

A 108ha irrigated property at Bundalaguah, between Maffra and Sale, was recently sold for $3.82m.

A local family has closed their dairy, selling off a 108ha block, which fetched a top offer of more than $35,370 a hectare.

The farm at 470 Maffra-Sale Rd, Bundalaguah, has been sold to a local buyer for $35,370 a hectare.

Gippsland Real Estate Maffra selling agent Paul Bourke said the block was highly sought-after, with very few irrigated farms on the market in 2022.

“It was probably one of the highest price a hectare recorded in the region,” Mr Bourke said.

“There hasn’t been a lot of irrigation country for sale.

“Commodity prices have been good and seasons have been good and so landowners have been wanting to hold onto their property.”

Earlier this month, a historic Western District farm at Beeac was sold for the first time in 110 years.