Southwest Victorian livestock farm Gwinganna at Terang sells for nearly $6 million

A grazing farm in southwest Victoria has sold for nearly $6 million — equating to more than a whopping $17,500 a hectare. 

Gwinganna at Terang has sold for nearly $6 million.

A LIVESTOCK farm in southwest Victoria has sold for nearly $6 million — equating to

a whopping $17,529 per hectare.

The 340ha property, Gwinganna at Terang, sold under the hammer on Friday.

Gwinganna is located just 5km from the township of Terang and features a homestead built in 1980, set among a mature-treed parklike garden.

It also boasts large open shedding for machinery and a workshop, a three-stand woolshed and steel cattle yards.

Selling agent Neil Hammond from Brian O’Halloran and Co said the selling price was “way past expectations”.

“There aren’t a lot of properties like this currently on the market. Supply is low and demand is very high,” Mr Hammond said.

“Gwinganna has a good soil type and is in pretty perfect rainfall area.

“It had been run as a beef property and that it will remain. The buyer was from out of the district”.

Meanwhile, a farm near Echuca was passed in at auction last Friday for $4 million, and sold afterwards.

The 246ha property, Kallarney Farms at Strathallan, features a highly efficient flood irrigation system, which has been used to grow lucerne, cereal and summer crops for the past 16 years.

It has frontage to the Northern Highway and the Campaspe River on the Eastern Boundary.

The sale of Kallarney Farms was managed by Kevin Hicks Real Estate.

It comes as The Weekly Times recently reported the upcoming autumn property market is expected to be just as hot as the highs of last year.

Real estate agents and analysts say low interest rates, tip-top seasonal conditions and an under-supplied market are the key drivers.

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