Kuruc-A-Ruc farm at Rokewood sold to Victorian buyer for $11.5m-plus

A mixed farming operation near Rokewood has been sold for the first time in almost 40 years, making more than $19,768 per hectare.

A Golden Plains mixed farming enterprise, steeped in history, has been sold, with a Victorian buyer securing the farm in a deal worth millions.

The 580ha Kuruc-A-Ruc farm, located at Rokewood, 30 minutes from Ballarat, has sold in deal believed to be worth more than $11.5m.

The farm was listed for sale in April with an asking price of at least $19,768 per hectare.

The Weekly Times understands the farm was sold for a figure about the expected price.

A regional Victorian farming family with other farming interests across the state secured the farm.

Elders Ballarat branch manager Sean Simpson said the vendors, a Golden Plains farming family, had owned the farm for almost 40 years.

He said during the sale process the Kuruc-A-Ruc farm received interest from mostly Victorian buyers.

“Most of the interest came from regional and local farming families and some urban investors looking for a tree change,” Mr Simpson said.

The Rokewood farm had been owned by the same family for almost 40 years.

“The urban investors were predominantly looking for an agricultural asset to then run it themselves.

“It is a quality farm with all of the improvements. The 1830s homestead is in terrific order, it is well-located with quality pastures.”

Mr Simpson said the new owners were planning to run the property as a Merino, sheep and cropping operation.

Kuruc-A-Ruc was home to the Break O’Day goldmine from 1853-57 – reputed to be one of the richest in the state’s mining history.

The property was selected by the Derwent Company in 1838 and first settled as a squatter’s run. The homestead was built around 1839 by the Aitchison brothers.

The farm is held in 10 titles, while the land is more than 80 per cent arable and suited to all grazing pursuits as well as fodder, cereal and oilseed production.

The vendors have also predominantly used Kuruc-A-Ruc to produce fine wool Merino Saxon sheep at an estimated 9000DSE.

Victorian farms have been hot property in the past 12 months, with median price per hectare values soaring by more than 30 per cent.

Earlier in May a dairy farm at Camperdown was sold with a Victorian buyer securing the farm for at least $7m.