Property developer to sell West Gippsland dairy farm, at Labertouche, for $18m-plus

After almost two decades in charge a property development company is selling its premier dairy aggregation.

A property development company is selling their premier West Gippsland dairy aggregation after almost two decades in charge.

The Pine Hill aggregation, at Labertouche in West Gippsland, is a 372ha dairy and fodder operation bordered on two sides by the Bunyip State Park.

The property carries five titles and is available either as a whole or in three individual lots with offers of more than $18m tipped for the aggregation as a whole.

CBRE selling agent Matt Childs said Pine Hill had been put together over the past 17 years by the property development company vendor.

“When the land originally came into the owners’ hands, all that was standing was an old house and dairy – they have added all the infrastructure since then,” Mr Childs said.

“The house on Pine Hill was built in 2014, while the Alcorn Rd residence is used as a weekender for the owners.

“The herd average of 670 milkers is producing just under 5.4 million litres of milk and 400,000 kg of milk solids annually.”

The three lots include the 178ha Pine Hill, which includes all dairy infrastructure and one residence, the 190ha Eastern Portion which has an additional dairy platform with 37 megalitres of irrigation water and original sheds/yards and the 4ha Alcorn Road has the second modern home.

There’s an arable land area of 361ha, or 97 per cent of the property, with soils a mix of sandy loams in the undulating areas and a heavier black loam with alluvial qualities.

Farms in Gippsland have skyrocketed in value in the past 12 months, with median price per hectare values increasing by more than 28 per cent.

The Pine Hill aggregation, at Labertouche in West Gippsland, is a 372ha dairy and fodder operation.

The Pine Hill aggregation has been home to a rotational pasture program comprising rye and clover grasses and crops including turnips, chicory, millet and plantain has been boosted with an extensive fertiliser program focused on regular applications of lime, chook manure, compost and effluent.

An average annual rainfall of 1000mm boosts multiple water supplies such as mains water, bore and irrigation water, rainwater tanks and catchment dams. Fodder production is supported by the pipe-and-hydrant effluent line with travelling irrigator.

The manager’s residence on Pine Hill offers three bedrooms, study/fourth bedroom, two bathrooms, living space incorporating kitchen/dining, separate lounge, garage and adjacent five-car carport.

Alcorn Road is identical in design to the first home, with the addition of an expansive American-style barn incorporating two horse stables and landscaped gardens.

Built in 2007, the dairy is a Westfalia 50-stand rotary with two 10,000 litre vats and automatic cup removers.

That’s supported by a calf shed, feed pad, loafing area, machinery shed, three hay sheds, workshop, enclosed vet area, modern office, kitchen/lunchroom, plant/pump room, garden supply bays, grain and water storages plus two silage pits.

Earlier this month a dairy farm in the Western District was sold for the first time in 40 years to a local buyer for a premium price.

LABERTOUCHE

PINE HILL

Property: dairy, lifestyle

Size: 372ha

Sale: expressions of interest close June 8

Price: more than $18 million as a whole; Pine Hill, more than $9 million, Eastern Portion, more than $7 million and Alcorn Road, more than $1.7 million

Agent: CBRE Agribusiness

Contact: Matt Childs, 0418 512 494, or James Auty, 0407 053 367