Merrett’s four Vic-SA farms at Serviceton sold for $22,238-plus a hectare

A western Victorian family duo have purchased a portion of the family farm through auction, extending its ownership to a third generation.

Three cropping farms in western Victoria and another across the border in southeastern South Australian have been sold among four Victorian buyers, making more than $12 million combined.

On Friday, the Merrett family of Serviceton offered four lots, totalling about 550ha, for sale via auction for an estate sale.

The four lots were individually offered to the public at the Serviceton Recreation Reserve and all were initially passed in through auction.

All the lots were then sold immediately post-auction as four separate buyers each secured their own parcel.

Several of the lots were sold to the highest bidders with the majority of the lots sold to neighbouring farming families.

It is understood the blocks were sold for individual prices ranging from at least $22,238 to more than $24,709 a hectare (early $9000 to early $10,000 an acre).

As a whole it is understood the aggregation was sold for a figure well in excess of $12.2 million.

Totalling about 550ha, the Merrett farms had been owned by one family for two generations.

The Victorian portion of Merrett farms includes the adjoining Lot 1 and Lot 2, known as The Dugout (150.2ha) and The 200 Acres (81.38ha) respectively.

Lot 1 was purchased by Kaniva agronomist Joshua Merrett and his Adelaide-based sister Christa, extending their family’s ownership of the property into a third-generation following the passing of their father and grandfather.

Mr Merrett said he was determined to purchase of the farmland for sale because it was so tightly held.

“Poppa always said ‘you never sell land, they are not making anymore’,” Mr Merrett said.

“It has been a stressful time, especially with land prices being higher, but is great to keep some of the farms in the family.

“It was tough to organise the sale but it was important to save the family farm.”

Mr Merrett said he plans to run the farm alongside his agronomy work.

Also in Victoria and south of Lots 1 and 2 is the 198.65ha Lot 3, known as Nortons.

Meanwhile west of the border in the Custon district is the 121ha Lot 4, known as Kings.

Westech Real Estate Nhill selling agent Stuart Kyle, who handled the sale of the Victorian parcels, said there was considerable interest in the Merrett farms, even though they were priced at the higher end of the market.

“The interest in the farms was good, but we had another level of interest which was priced just under where we were sitting,” Mr Kyle said.

The Merrett family’s four Serviceton farms were sold post-auction last week.

“There were several bids on the day, but there were a number of people there who were interested but didn’t bid.

“The sales were a very solid result. I would say the sale prices were down about 5-10 per cent compared to what we might have achieved 12 to 18 months ago.”

Spence Dix and Co selling agent Greg Window handled the sale of the South Australian parcel.

Earlier this year a 564ha block of prime cropping country near Kaniva, in the West Wimmera continued into a fifth generation with the same family after it was sold through auction for more than $10 million.

Parlawidgee, owned by the Meyer family for about 140 years through four generations, was kept in the family after it was bought by the daughter and her husband and sons of the estate of OD Meyer.