Gross family to sell $23m-plus North East Victorian farm, Castle Creek

A tightly held 1455ha farm near Euroa has hit the market, with one family to end their 40-year ownership tenure.

The Gross family’s Castle Creek four-farm aggregation has hit the market.

One of North East Victoria’s premier farms has been listed for sale after almost 40 years of ownership by one family.

John Gross and the Gross family are selling their 1455ha four-farm aggregation, Castle Creek, which has been home to their expansive cropping and sheep enterprise.

Regarded as a prestigious prime lamb and winter cropping enterprise, Castle Creek is located 10 minutes from Euroa in the state’s North East.

Comprising four lots known as Castle Creek North (477.76ha), Castle Creek South (326.91ha), Woods (395.06ha) and Skinners (256.18ha), the property is for sale as a whole or in four separate lots.

It is expected the aggregation will receive offers in excess of $16,071 a hectare ($6500 an acre), meaning it could fetch more than $23 million as a whole.

The Gross family are selling Castle Creek for sale on a walk-in, walk out basis, inclusive of the current plant, equipment and sheep flock, or can be purchased on a bare land basis.

A mixed sheep and lamb enterprises has been run at Castle Creek.

EUROA

CASTLE CREEK

Property: mixed farming

Size: 1455ha in four lots

Sale: two-stage expressions of interest, stage one closing Wednesday, July 5 at 4pm

Price: in excess of $16,071 a hectare ($6500 an acre)

Agent: CBRE Agribusiness

Contact: Shane McIntyre, 0429 557 070 and Matt Childs, 0418 512 494

CBRE Agribusiness selling agent Shane McIntyre and director Matt Childs are handling the sale via a two-stage expression of interests process, with stage one closing July 5 at 4pm.

“Developed and held in the same ownership for almost 40 years, the level of investment, improvement, management and maintenance are unrivalled in this region,” Mr McIntyre said.

“Castle Creek benefits from direct road frontage along Curries Rd, ensuring access to surrounding townships and the dual Hume Freeway, which connects Melbourne and Sydney.

“This strategic positioning provides connectivity and convenience for residents and agribusiness operators.”

About 50 per cent of Castle Creek has traditionally been used for mixed winter cropping.

Mr Childs said the Gross family has focused on soil fertility to build production at Castle Creek rather than adding acres to the enterprise.

“The technology embraced has created performance data that significantly enhances decision-making around soil fertility, land use, wool quality and volumes, and grain production,” Mr Childs said.

“Everything about Castle Creek has been thoughtfully created with no expense spared, meaning the new owner will inherit the benefits of wise investment over many years.”

The property is 94 per cent arable grazing or cropping area with a mix of wheat, canola and oats, as well as lucerne grown at the property.

Castle Creek is generally flat to very gently sloping and has reliable above average rainfall at an average of 651mm per annum.

Meanwhile earlier this month a 42,900ha portfolio of farmland in Victoria’s Mallee and WA has hit the market where it is expected to command offers worth $400 million.