Romano family sells East Gippsland farm South Moormurng

A tightly held East Gippsland cropping and cattle farm has been snapped up by a Melbourne buyer in a recent deal.

An East Gippsland family cropping and cattle farm has a new owner after it was sold in a recent deal.

After owning the 571ha farm South Moormurng at Bengworden and farming elsewhere in the district for more than 40 years, the Romano family have sold the property to Melbourne buyers.

South Moormurng was listed for sale in June with price expectations of $7.5m to $8m.

It is understood the farm has been sold for a figure at the lower end of this price range.

South Moormurng will join multiple South Gippsland farms included in the Melbourne buyers’ portfolio.

South Moormurng at Bengworden has been sold by the Romano family.

The property will be predominantly used for cattle with a property manager expected to be employed to run the farm.

The vendors Victor and Joe Romano were originally farming at Thorpdale with their father and three other brothers, but the family enterprise has downsized over time.

When the Romanos purchased South Moormurng 26 years ago it was being used as a sheep farm.

Since then sheds have been erected, three irrigation bores have been added so the farm can run about 350 Angus breeders under purebred bulls with 40ha for potato crops to supply Smith’s Crisps.

The versatile property produces a self-sufficient amount of hay, about 300-400 round bales at a time.

South Moormurng also has 277.3ML of secure water entitlements under licence pumped from three diesel-powered bores with existing irrigation infrastructure.

Bill Wyndham and Co. Bairnsdale agents Michael Capes and Casey Skipp brokered the deal.

The farm is split into five titles and is located 15 minutes southwest of Bairnsdale.

South Moormurng gets its name from the Moormurng Flora and Fauna Reserve to the north of the farm.

Alongside the sale of South Moormurng, two tightly-held farms near Ballarat and Boort were recently sold in deals worth an estimated $20m-plus combined.