Graeme Scott sells Glenthompson farms to local buyers for $16,500 per hectare-plus

A tightly held Western District farm has been purchased by two local buyers in a deal believed to be worth more than $16,500 per hectare.

For the first time in more than 40 years, a tightly held Western District farm will change hands after two local buyers paid a premium price.

The Glenthompson farms, which incorporate two lots on Williamsons Road, have been purchased by two neighbouring farmers in a deal believed to be worth about $6.5m.

The Weekly Times understands an offer of around $16,500 per hectare secured the property.

Wickliffe district farmer Graeme Scott listed the 394ha holding in mid-March, with the sale completed after a time-on-market of just four weeks.

Nutrien Harcourts Ararat selling agent Brad Jensen said interest in the farm was widespread.

“We received good interest from locals and people from further abroad,” Mr Jensen said.

“Predominantly the interest was from within the Western District with buyers from Warrnambool, Glenthompson and Woorndoo interested”.

Mr Jensen also said he had anticipated the cropping farm would sell quickly.

The Williamsons Road farm at Glenthompson has been purchased by two local farmers.

Across the two blocks, Williamsons (239ha) and Ellerys (155ha), 90 per cent was considered arable with previous crops consisting of canola, barley, wheat and some legumes.

Mr Jensen said he was expecting farm prices in the Western District and Ararat region to remain strong.

“In the past 18 months we have achieved really good results for farm land prices,” he said.

“This is the new normal and those prices won’t be going away, providing commodity prices are strong.”

Mr Jensen said the sale was completed just in time, with the purchasers given early access to the property to begin their 2022 sowing.

It comes as earlier this month a stunning price was paid for a cropping land near Horsham, with winning bids topping $30,000 per ha at auction.

Mallee croppers and buyers from further afield are also keeping an eye on the Merriwa Pastoral Company’s 1484.05ha cropping enterprise, located at 230 Baulch Road, Normanville, which is for sale for more than $10m.