Nar Nar Goon cattle farm sells for more than $80 million to Lendlease

A cattle farm in Victoria has sold for more than $80 million. The property is the biggest to be secured in a multi-farm buyout.

A Nar Nar Goon farm has sold for more than $80 million.

A CATTLE farm at Nar Nar Goon near Pakenham has sold for more than $80 million.

The 83ha property was sold by two Melbourne brothers and purchased by national developer Lendlease.

It will form the Averley estate, with about 1100 homes expected to built on the farm.

The property, which included three titles, is the biggest to be secured in a multi-farm buyout by the developer.

Core Projects, which brokered the deal, said it was the third off market transaction brokered by the company in Melbourne’s south east in the past six months.

Core Projects acquisitions manager Kane Malcomson said the development would further fuel growth in the south east.

“The region has seen immense growth in the past two years which has continued despite the challenges of 2020. Demand for property in the region is not slowing,” Mr Malcomson said.

It comes as some of the state’s most well-known farms sold for whopping prices last year.

Banongill Station at Skipton, which spans 8200ha, sold for $80 million at the beginning of November.

The station was sold by Laguna Bay Agricultural Fund and was snapped up by a local consortium of farming families.

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