Western Victorian farms fetch $10 million-plus through auctions

Three Wimmera farms and a 372-hectare holding in the far southwest have returned mixed results at a quartet of auctions. See the details.

The Pratt family have sold Cranleigh at Mumbannar, through auction for $6.55 million.

Three farms in western Victoria have been sold for more than $10 million combined following a series of contested auctions.

Retiring fifth-generation farmer John Pratt and family have offloaded part of their landholdings in the far southwest of the state, selling Cranleigh, a 372-hectare farm in the Mumbannar district, located about 30km from Mt Gambier.

Offered for sale via auction on November 1, the tightly held grazing property was sold under the hammer for $6.55 million.

In front of a crowd of about 80 people bidding began at $6.2 million before competing offers between two bidders lifted the final price to the equivalent of $17,600 a hectare.

It is understood a buyer based out of the district acquired the Mumbannar property for its high-rainfall location, complementing their existing holdings.

The 372-hectare Cranleigh was sold for the equivalent of $17,600 a hectare.

Miller Whan & John and David John Licensed Estate Agent Victoria handled the sale, with Miller Whan & John agent Andrew Whan describing interest in Cranleigh as a “slow burner”.

“We ran a long advertising campaign and so it took a while for the interest to come in. It wasn’t until about the last two weeks our inspections started,” he said.

“We very rarely see land sales in the Mumbannar district and the last comparable sale was at least 18 months ago.”

Further north in the Wimmera two cropping farms have been sold at auction, while another was passed in.

A 150-hectare farm at Mount Pleasant Rd, Minyip, was sold under the hammer on November 1, with neighbouring Wimmera cropping farmer Robert Cowan securing the property through a winning bid of $13,590 a hectare, or about $2 million.

A nearby farm, a 139.54-hectare holding at Donald Murtoa Rd, Kewell, located about 32km west of Donald, was sold on October 31 after initially being passed in through auction.

An undisclosed buyer secured the property for an undisclosed sum post-auction after it was passed in on a purchaser’s bid of $12,910 a hectare.

The 259-hectare Noorong at Dadswells Bridge was passed in through auction.

Meanwhile, Shannon and Denise McLellan’s 259-hectare Noorong mixed cropping and grazing property, at Dadswells Bridge, was also passed in at auction on October 31.

Located at Crutes North Rd, Noorong has been owned by the couple since 2007.

Negotiations for the sale of Noorong remain ongoing.

Elders Real Estate Horsham agent Mat Taylor handled the auctions and sales of the three Wimmera properties and said there had been a “correction” in farmland prices.

“Pasture and grazing have been the most affected, for cropping areas there is still plenty of interest but not the highs of a couple of years ago,” Mr Taylor said.