Victorian cattle farm sold for millions

A 238ha farm near Mansfield, expected to sell for more than $54,600 a hectare, has changed hands in a recent sale.

The 238ha Redbank property, at Boorolite, has been sold after hitting the market last year.

A Victorian cattle farm with a striking country home in the foothills of the Great Dividing Range has been sold for millions in a recently struck deal.

Graham and Jo Boone have sold their 238ha property Redbank, at Boorolite, located 20km southeast of Mansfield in Victoria’s High Country.

The Boone family had owned the working cattle farm for more than 20 years, purchasing the property as an established farm in 2003 and running about 270 Angus and Hereford steers for fattening in recent years.

Listed for sale in September last year, the property was expected to offer field offers worth more than $13 million, the equivalent of more than $54,620 a hectare.

Redbank offered a quintessential farming enterprise on six titles sprawling across 238 hectares.

Abercrombys Real Estate director Jock Langley confirmed the Redbank property had been sold with details about the value of the transaction remaining undisclosed.

Details about the buyer also remain private.

The centrepiece of the Boorolite property is the Boone family’s homestead, built in 2005 of stone and timber.

The architecturally-designed, light-filled home offered four bedrooms, three bathrooms, powder room, open-plan family area incorporating a kitchen, dining and living space warmed by a wood-burning heater in a stone fireplace, study, second living room, laundry, garage and extensive north- facing outdoor entertaining areas.

Comprising six titles, Redbank’s crowning features include the trout-filled Delatite River, which bisects the property for about 2km, and dramatic, ever-present views of both Mt Buller and Mt Timbertop.

In an average year the property was estimated to potentially carry 200 cows and calves, supported by water supply, with stock and domestic from the river plus a 39ML irrigation licence, so stock can be watered either from one of eight dams or gravity-fed troughs.

Each year the Boone family also cut pasture hay off one 20ha paddock, producing 300 large rolls last year for use on-farm as needed, with the remainder sold.