Two major Gippsland dairy farms at Athlone and Poowong for sale

With a price guide of more than $39,000 a hectare, two separate dairy farms owned by an investment group have hit the market.

Two mighty dairy farms located in the Gippsland region have hit the market.

A private investment group has given the dairy market a double-offering as it looks to sell its 309.99ha property at Poowong and 241.25ha property at Athlone, separated by about 15km.

The properties are being offered as separate holdings or as one aggregation.

Selling agent Cam Roberts said after seven years of ownership, the vendors were looking at exiting the dairy industry at a time when dairy properties were fetching a premium price, thanks in part to record milk prices.

POOWONG, ATHLONE

Property: dairy

Size: 309.99ha (Poowong) and 241.25ha (Athlone)

Sale: private

Price: $39,536 a hectare ($16,000 an acre)

Agent: Elders Real Estate Yarragon

Contact: Cam Roberts, 0488 050 440 and Jackie Shearer, 0437 966 769

The 300ha Poowong dairy farm comprises mainly deep sandy loams.

“The vendor has run the properties as separate entities, both as corporate dairy farms with fully employed staff,” Mr Roberts said.

Located in South Gippsland, 3km from the Poowong township and 35km from Warragul, the 310ha Poowong dairy farm has a cow capacity in excess of 500 and can carry 15 dry sheep equivalent per hectare.

“A lot of thought and consideration has been put into the layout of this farm,” Mr Roberts said of the Poowong property.

“Soils are mainly deep sandy loams with good quality pastures throughout.”

Existing dairy infrastructure and improvements on the property include a four-bedroom brick veneer home, a three-bedroom brick home, a recently refurbished 40-unit rotary dairy, 600-cow feed pad, 24m x 26m calving down shed and 24m x 14 machinery shed.

With 1060mm average rainfall, water security with 53ML and quality pastures, the property is suitable for dairy or beef production.

Meanwhile Mr Roberts said the Athlone dairy farm was highly regarded in the district.

“With highly productive soils and high rainfall, this property is one of the finest West Gippsland has to offer,” Mr Roberts said.

“This property has quality pastures, ample water, all-weather laneways, and infrastructure to support a profitable dairy business.

The 245ha Athlone dairy has 196ha used for a milking platform while separate 47ha and 19ha blocks are used for fodder production, young stock and dry cattle.

“Soils are mainly sandy loams across the dairy platform with alluvial river flats fronting the Lang Lang River.”

Despite being slightly smaller in size than the Poowong property, the Athlone dairy has a carry capacity of more than 500 cows or 14.8 dry sheep equivalent per hectare.

There is also water security via a 15ML pumping licence from the Lang Lang River and average annual rainfall of 967mm.

Infrastructure includes a 60-unit rotary dairy, 500-cow yard, 28,000-litre vat capacity and a four-bedroom brick veneer home.

There are 196ha used for a milking platform while separate 47ha and 19ha blocks are used for fodder production, young stock and dry cattle.

Last year all seven of the Ace Dairy Holdings’ Gippsland dairy portfolio, located between Fish Creek, Maffra and Heyfield were sold for a combined figure of about $70 million.

Meanwhile, in a deal understood to be worth at least $12 million, a property development company sold two portions of the Pine Hill holding to a private Australian global investor last year.