Adjoining blocks in Victoria’s Mallee district have sold to a first-time farmland owner at a virtual auction at what are believed to be record rates for dryland cereal farmland in the region.
The 576-hectare Ouyen aggregation was split into two parcels, which sold back-to-back under the virtual hammer at 61% above the vendor’s reserve.
Nutrien Harcourts agent Michael Fernandez managed the sale less than a week after Victoria again fell into lockdown, forcing on-property auction to be switched to online.
The first lot to sell was the 268-hectare 544 Vine Lane property, fetching $1,050,000, before the 308-hectare property Lot 2 Calder Highway sold for the same amount.
Combined, the sale rate was $3,644 per hectare after 36 people registered for the auctions and 12 made bids.
The purchaser was local business person Colin Mole.
The land is suited to continuous winter cropping and hay production, including wheat, barley, oats, vetch and lupins. It is leased until February 2023 for $86.49 per hectare.
Annual rainfall in the district has a range of 300 to 400 millimetres.