Doug and Margaret Nicholls to sell 580ha Gippsland farm aggregation for about $10m

With a $10m price tag, this grazing and cropping aggregation near Sale is up for grabs for the first time in more than 20 years.

For the first time in more than 20 years a collection of Gippsland farmland has hit the market presenting buyers with a “rare opportunity”.

Vendors Doug and Margaret Nicholls have decided to sell their 580ha, five-lot aggregation near Sale, with a price of about $9-10m expected.

The Nicholls family first began acquiring Seaspray farmland in the early 1990s as they scaled down their real estate and livestock business near Pakenham.

Over 25 years the family grew their holdings, running grazing and cropping land while establishing a successful Angora goat enterprise.

Leo O’Brien Property director and selling agent Leo O’Brien said initial interest in the holdings had been very strong.

“I have fielded around 40-50 inquiries already,” he said.

“This is a very rare opportunity for this much land to come up for sale.

“This is a significant parcel of land and it is not easy to find land this size in Gippsland.

“I have been working with real estate in this area for 40 years and it is very rare for this much land to come up on the market.

Nicholls family’s Gippsland farm.

“Farming has had a pretty buoyant period so it will be interesting to see what people are willing to pay.”

Mr O’Brien said initial price expectations for the farmland equated to about $12,300 per hectare plus the value of existing infrastructure, which included a three-bedroom homestead and farm manager’s residence.

As part of the aggregation, an architecturally designed homestead is set on a hectare with views of The Island, Gippsland Lakes, the Ninety Mile Beach and Bass Strait.

Adjoining the homestead are Lot Two, Dianella Downs (144ha) and Lot Three, The Island (93ha), which have been used as grazing and cropping land.

About 8km west of the homestead are Lot Four (201ha) and Lot Five (147ha), which form the Springfield holding.

The property has been used to produce livestock over the years.

The three-bedroom farm manager’s residence is set on the Springfield property.

Neighbouring the Gippsland lakes, the farmland is made up of heavy soils, which have been used for lucence and sheep and goat grazing.

The aggregation is for sale in one line or separate offers, with expressions of interest closing at 4pm on Friday, May 6.

In March, the Robertson family sold their Gracemere Merino farm, with a former Gippsland local securing the farm for millions.