Two rural Victorian estates sold for $20 million-plus combined

Victoria’s biggest racehorse breeding operation has purchased a 175ha Goulburn Valley property in a multimillion dollar deal.

A pair of luxury rural estates in the heart of Victoria’s Goulburn Valley have changed hands in separate deals understood to be worth more than $20 million combined.

A horse racing stud backed by Chinese mining billionaire Yuesheng Zhang has purchased a 175ha rural estate about 10km south of Nagambie.

Yulong Investments acquired Islay Vale at Tabilk, adding the property to its extensive breeding enterprise, now regarded as the biggest in Victoria.

Last year Yulong Investments paid $33.5 million in three days to buy 60 broodmares at the Magic Millions event, expanding its broodmare band to breed with its stallions.

Islay Vale estate has been sold to Yuesheng Zhang’s horse racing stud Yulong Investments.

The acquisition adds to its existing four holdings, comprising Yulong Park at Bayles, near Koo Wee Rup, which was purchased in 2018.

Between 2018 and 2021 the group also purchased the Goulburn Valley three-farm aggregation Hillside, Riverview and the 990ha Chatsworth Park.

Private vendors listed Islay Vale for sale in November last year, where it was expected to receive offers worth $9 million-plus.

The terms of the deal remain undisclosed, however, it is understood the property was sold in line with expectations.

Yulong Investments’ Yuesheng Zhang. Picture: Toby Zerna

The Islay Vale homestead has five bedrooms, four bathrooms, three living areas and a large balcony overlooking an adjacent anabranch of the Goulburn River.

In recent seasons the property has been used for cropping, sowing 130ha of wheat and canola, as well as conservatively running 50-150 head of cattle for fattening.

Meanwhile the 109ha Levuka, an estate located at Mitchellstown, about 13km south of Nagambie, has been purchased by pub baron Bruce Dixon.

Mr Dixon has added Levuka’s designer five-bedroom, four-bathroom home and its mixed farmland to his existing rural property portfolio, which includes Macedon Lodge, a thoroughbred property purchased from Lloyd Williams for $20 million two years ago.

The value of the deal remains undisclosed, but Levuka was offered to the market late last year with a price guide of $14 million.

Pub baron Bruce Dixon has recently purchased the 109ha rural estate, Levuka, located near Nagambie. Picture: Rebecca Michael.

Mr Dixon is known for managing Healthscope, a private hospitals group before it was sold in 2010.

He was also the Spotless Group chief executive, but has since moved into Australia’s pubs sector, establishing a portfolio of venues which are part of the Australian Venue Co.

Director of anti-ageing clinic Elucell and former model Rachel Perrin listed Levuka for sale alongside her husband and former Billabong director, Scott Perrin.

During their tenure the property, which has 1km of frontage to the Goulburn River, ran Angus steers while also growing lucerne and fruit and vegetables.

Levuka is located in the western side of the Goulburn River, just kilometres from Islay Vale.

Elders Real Estate agents Nick Myer and Henry Mackinnon handled the sales of both Levuka and Islay Vale.

Levuka’s designer five-bedroom and four-bathroom home.