Holt family sell Bundalaguah dairy farm

A local dairy farmer has purchased a 156ha property in a deal worth more than $32,000 a hectare. See the details.

A Gippsland dairy farm has been snapped up in a deal worth more than $32,000 a hectare after just six weeks on the market.

The Holt family has sold its 156ha property at Bundalaguah, about 10km north of Sale in Gippsland’s Macalister River irrigation district.

Darren and Kim Holt listed the property in November last year with a deal struck prior to Christmas.

Details of the transaction remain confidential. It is understood a local dairy farmer has purchased the property for a price in excess of $32,000 a hectare, or more than $5 million.

Gippsland Real Estate Maffra selling agent Paul Bourke said there was a number of parties interested in the Bundalaguah property.

“There is still interest in the market, but there is not much for sale,” he said.

“For the dairy sector farmgate prices are good and with favourable seasonal conditions it is steady as it goes at the minute.”

The Holt family have sold their Bundalaguah dairy farm after a deal was struck in about six weeks.

Prior to the sale, the Bundalaguah farm had been held by generations of the Holt family dating back to 1926 when Mr Holt’s grandfather and great-grandfather emigrated with their families from England.

In recent seasons the Holt family had conservatively milked about 250 cows and also grown 40-48ha of fodder crops each year.

The dairy also has a 20 swing-over herringbone equipped with three-phase power, 6500-litre

vat, 300-cow yard, rapid yard wash and 15kW solar system.

Meanwhile about 100km to the west of Bundalaguah, Grant and Tamara Phillips have sold their 194ha grazing property, Kooragulla, located about 13km from Yarragon and Warragul in West Gippsland.

It is understood a local dairy farmer has purchased the property for an undisclosed sum. The property was listed for sale with a $7 million price tag, and included a 46.6m x 34m cool room, packing and storage facility under roof, valued at about $2 million.

Boarded by dairy farms, Kooragulla was formerly part of the 692ha Shady Creek Pastoral Run which carried 1500-head cattle, grew certified seed potatoes and was owned by Peter and Yvonne Abel.

Elders Real Estate selling agents Greg Tuckett and Don Olden handled the sale of the property.