Two record results have been achieved on Geelong and district cropping properties, with a prominent Inverleigh farm sold for more than $5.8 million after auction last Friday.
A crowd of 100 plus people turned up to see Doroq, a 2331 acre property, passed in at auction for $2425 an acre and later purchased for substantially more than $5.8 million, by local livestock consultant, Ashleigh Vincent, on behalf of a client who has property interests closer to Melbourne.
Ken Drysdale of Elders Geelong said the price was an all-time record for bare cropping land in the district.
“In the middle of a global financial crisis, this is a significant outcome for rural Australia,” Mr Drysdale said.
With an excellent fertiliser application history and an average annual rainfall of 575 millimetres, Mr Drysdale, said Doroq was one of the best cropping properties to come onto the market recently.
The farm has been the show piece for a syndicate of South Australian proprietors for the past six years, who will be extremely pleased with their investment.
Parmelias, a 547 acre cropping and grazing property near Meredith, also reached a top price.
Sold by Ken Drysdale in conjunction with Frank Parnell Real Estate, the farm sold for $1.641 million, after being passed in at auction.
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