Two Victorian farms fetch $22m-plus combined

A South West Victorian dairy farm and a Wimmera cropping portfolio have changed hands in two top-dollar deals.

Two Victorian farms have been snapped up in separate top dollar deals understood to be worth $22 million-plus combined, with a South West Victorian dairy and a Wimmera cropping portfolio changing hands.

After a 15-year tenure, Harper and Oonagh Kilpatrick have sold their 495ha Nine Mile Creek Dairy at Koroit, 25km from Warrnambool.

A local dairy family with existing holdings has purchased the property for an undisclosed price after the Kilpatricks listed the dairy for sale in October, with a price tag of about $12 million for the land.

The property was for sale via expressions of interest, closing December 9 last year, going to contract soon after.

Charles Stewart and Co Warrnambool director Nick Adamson managed the sale and said the Nine Mile Creek Dairy gathered interest from local producers, overseas parties and high net-worth individuals.

Mr Adamson also said he expected dairy farm prices to increase while grazing and cropping property prices plateau at “historically strong levels” in 2023.

Prior to their time at Nine Mile Creek Dairy, the Kilpatricks had run a dairy farm in Northern Ireland.

“On reflection comparing spring year-on-year, dairy real estate prices have lifted about 20 per cent in the region,” he said.

“This is reflected by record farm gate milk prices. Input costs have risen, but milk prices have never been better.”

Last year the Kilpatricks’ Nine Mile Creek Dairy herd was named in the Top 100 in Dairy Australia’s 2022 Australian Milk Quality Awards.

They ran about 900 AI-bred, mostly Holstein-Friesian cows, producing 7.3 million litres of milk. From this they produced 553,367kg of milk solids in 2021-22, averaging 600kg per cow annually.

Meanwhile in the Wimmera, Jaimie and Sally-Anne Douglas have sold their 628ha blue ribbon cropping portfolio at Marnoo.

Dundonald at Marnoo has been sold to a local farming family in the Wimmera.

The Dundonald portfolio of four farms including Home Block (191.4ha), Floras (194.2ha), Plantation (129.5ha) and Creswicks Well (113ha), were sold as one to a local farming family for an undisclosed price.

When the portfolio went to market last spring, it was expected the farms would receive offers of $17,300 a hectare ($7000 an acre) for a total of about $10.86 million.

Mr and Mrs Douglas bought the land from her parents about 26 years ago, continuously cropping the property for the past 15 years.

Dundonald had been held in the family name for more than 100 years, with the family exchange continuing the legacy past 120 years.

Driscoll Douglas East Real Estate director Brett Douglas completed the sale.