banongil sold around $20 million

By By Matilda Abey
Updated January 5 2016 - 6:21pm, first published April 19 2006 - 11:00pm
FarmBuy Real Estate

A FORMER football player turned property tycoon has purchased the 5800-hectare Banongil Station at Skipton, in what has been described as Victoria's largest rural property.Elders real estate manager, Shane McIntyre, negotiated the sale for an undisclosed sum to former South Melbourne and Melbourne VFL footballer and property developer, Stewart Gull and his wife Sue of Ballarat.While the price of the property could not be revealed, "In accordance with previous media reports, which have said Banongil Station would realise in the vicinity $20 million, a sale has culminated in accordance with the vendors expectation," Mr McIntyre said."The intention is to continue running the property as a working station," Mr McIntyre said.Mr Gull, now a Ballarat businessman, is expanding his rural property portfolio, after purchasing Lexington, a historic property at Moyston last year. The Gulls paid $3.485m for the property last November.The property was offered by tender in mid December 2005 by Elders and Landmark.Banongil Station, located on the Emu Creek 8km west of Skipton and 170 km from Melbourne, is described as an Australian Icon of 5800 hectares. The property includes a 90 square homestead built in1905 in five hectares of garden. There are eight other homes and cottages, station outbuildings, historic nine stand, raised board, bluestone shearing shed, adjacent shearers quarters, undercover sheep handling facilities, machinery shedding, workshop and ancillary station improvements.Mr McIntyre described Banongil Station as arguably the best station holding of its type in Victoria."The property has justifiably created a new record for a rural sale in Victoria due to the fact that it is one of the best kept properties in the state, a unique jewel, superbly presented to the market. ""The former owners of the property for the last 30 years, the Lempriere family, have preserved the station outbuildings and surrounds to a very high standard and developed Banongil into an ideal grazing and cropping enterprise on a scale rarely found in Victoria.""These factors combined with the stations ideal location to Melbourne make Banongil one of the most prestigious station holdings to be offered in Victoria for many decades," Banongil Station includes an enterprise mix of approximately 26,000 adult sheep, 9000 lambs, 1200 adult cattle, 360 calves, and a rotational cropping program of approximately 600 ha that includes wheat, barley, canola, lupins and oats.The property was initially purchased in early 1897 by the Fairbairn family, who were to own the property for the next 80 years. The Fairbairn's built the homestead which is seen today and commissioned William Guilfoyle, the designer of the Royal Botanic Gardens in Melbourne, to plan the extensive gardens running down to the Mount Emu Creek.

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