Chinese company sells Gippsland dairy farm to locals

A West Gippsland farming family have snapped up the 262 hectare dairy farm next door in a whopping deal.

An international company has sold one of its West Gippsland dairy farms in a major deal finalised on the eve of the new dairy season.

An undisclosed local dairy farming family at Athlone, in West Gippsland, who neighbours the 262ha dairy farm, has purchased the property.

The Athlone dairy was on the market for less than two months after it was listed for sale in March, and the terms of the deal recently exchanged.

A private Chinese company had owned the property for more than seven years, running it as a corporate dairy farm with fully employed staff.

The dairy was sold for an undisclosed sum.

A private Chinese company has sold their 262ha dairy farm at Athlone in West Gippsland.

The property has a carry capacity of more than 500 cows or 14.8 dry sheep equivalent per hectare. Elders Real Estate Yarragon agent Cam Roberts handled the sale.

The major deal comes on the eve of the new dairy season and days after Bulla released its opening 2023-24 farmgate price of $8.80 to $9.60 per kilogram milk solids.

Record farmgate prices in the past 12 months have been a key driver of dairy farmland prices, which have soared past a median of $20,000 a hectare.

The private Chinese company is also selling a 310ha South Gippsland dairy farm located 3km from the Poowong township.

When the two farms hit the market earlier this year, they were offered as separate holdings or as one aggregation with a price guide of $39,536 a hectare ($16,000 an acre).

A four-bedroom brick veneer home stands at the Athlone dairy.

At the time the Athlone dairy was listed for sale, Mr Roberts said the property was highly regarded in the district.

“With highly productive soils and high rainfall, this property is one of the finest West Gippsland has to offer,” Mr Roberts said.

Water security at the property comes via a 15ML pumping licence from the Lang Lang River and average annual rainfall of 967mm.

Infrastructure includes a 60-unit rotary dairy, 500-cow yard, 28,000-litre vat capacity and a four-bedroom brick veneer home.

There are 196ha used for a milking platform while separate 47ha and 19ha blocks are used for fodder production, young stock and dry cattle.