Ercildoune and Great Western farms sold to locals for $13.4 million combined

Two tightly-held farms have fetched a combined $13.4 million at auctions after they were sold to local bidders.

Western Victorian farmers have shown that despite changing market conditions they are still desperate to snap up farmland with two farms fetching a combined $13.4 million at auctions.

Yentrac, a 398ha cropping and grazing farm near Ballarat was sold under the hammer on Friday for $10.7 million, with three lots purchased by two buyers.

A local buyer bought the Home block (138ha) for $4,433,000 and The Flat block (169ha) for $2,924,600.

The 91ha Ercildoune block was sold to a separate local buyer snapping it up for $3,353,990.

Elders Ballarat agents Sean Simpson and Bram Gunn handled the sale.

With Ercildoune commanding $36,857 a hectare, Home block fetching $32,123 a hectare and $17,305 a hectare paid for The Flat, Mr Gunn said the sale was a significant.

“It was a strong result after there was strong interest in the farm,” he said.

“The Burrumbeet-Ercildoune district is tightly-held and the sale was driven by locals wanting to expand their holdings.”

All three lots at the 398ha Yentrac farm near Ballarat was sold under the hammer on Friday.

The McCartney family have held the farm for the last 101 years, listing it for sale in July.

Former owner Alan McCartney said the farm was established after his grandfathers were given a soldier settlement block after World War 1, adding to their holdings over time.

Further west along the Western Highway, the 219ha Moran Track farm near Great Western has sold to a local buyer for $2.7 million.

The farm was sold under the hammer for $12,328 a hectare at auction on Friday.

Southern Grampians Livestock and Real Estate agent Jill McErvale said there was substantial district interest in the property.

Moran Track at Great Western fetched $2.7 million at auction.

“There was two registered bidders with good inquiry from local interest,” he said.

“For farms in the Grampians region there is still good interest because there are not a lot of buying opportunities, so when there is a farm on the market buyers want to engage.”

Last week a Western District farming family listed three east Wimmera cropping farms at Laen for sale, with offers tipped to exceed $14,000 a hectare.