Long held property changes hands

Long held Gippsland property changes hands

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A Gippsland property – which has been in family hands for nearly three quarters of a century – has been sold by Rodwells Ruralco.

A Gippsland property – which has been in family hands for nearly three quarters of a century – has been sold by Rodwells Ruralco.

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Kumbada, Jindivick, was owned by the Carnegie brothers for 72 years.

Located close to the Drouin-Warragul growth area the 228.5 hectares property is one of the largest farm holdings in the district. It is located just to the north of the Princes Highway-Jindivick Road junction. Rodwells Ruralco Property’s selling agent Damien Minogue said the property had been purchased by a local beef cattle farmer. He was planning some redevelopment, before turning it into a 300 cow and calf operation.

“The sale price is undisclosed but is in line with our pre-auction expectation of a sale in the region of $4 million,” Mr Minogue said.

Originally purchased by the Carnegie brothers’ parents as a small dairy operation the acquisition of neighbouring holdings over the years created the sequence of long ownership and now presents the property in four titles. “The Carnegie family dairy-farmed for many years but more recently Peter and John Carnegie converted it to livestock grazing with recent light stocking,” he said.

“Over the years the Carnegie brothers have topped the Korumburra and Leongatha markets many times with bullocks and vealers with their top quality grass-fed animals”.

PROPERTY SALE: With a freehold area of 228.5 hectares Kumbada, Jindivick sold before auction.

PROPERTY SALE: With a freehold area of 228.5 hectares Kumbada, Jindivick sold before auction.

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