The outstanding property aggregation Mokanger and Lewana has been snapped up by wool top-maker, Tianyu Wool, at a rumored nearly $14 million price tag.
The sale comes as two other iconic properties also hit the market Chatsworth House and Mount Fyans.
Chatsworth is listed with an asking price range of $22.5-$25 million, while Mount Fyans, bought in 2016 by the present owners, Harmony Agriculture and Food, is expected to realise about $42 million.
The sale of Mokanger and Lowana included 1587 hectares at Cavendish and adds to the Tianyu portfolio that is presently headlined by Lal Lal Estate, Yendon, purchased in 2014.
Tianyu Wool president Quignan Wen said the second property enabled him to enlarge his wool growing business in Australia.
Mr Wen said he was planning to purchase another three properties with similar sizes to make his group operation up to five properties in the foreseeable future.
The operating style of Mokanger would be similar to Lal Lal. His aims for the two farms included improving the pasture quality by introducing new grass species.
With more caring attention and careful selections, the improved grassland can accommodate more sheep, he said.
Merino genetics with a higher twinning percentage were also being sought.
Mr Wen said his biggest concern lamb survival during lambing.
He said because of the extreme weather conditions he had received advice from his Chinese experts suggesting he needed to build sheds to take care of ewes when needed during lambing season.
Mr Wen said a comparative study would be undertaken to measure the higher labour cost verses higher survival rate system to identify whether the traditional wool growing practice needed to be fine-tuned.
In his four years experiences owning Lal Lal, he appreciated the difficulties for wool growing businesses.
I can now understand why productivity is a key issue for this industry and why young people do not want get involved, he said.
I can now understand why productivity is a key issue for this industry and why young people do not want get involved
- Quignan Wen, Tianyu Wool, purchaser of Mokanger
However I am determined to combine some of the Chinese way with the Australia circumstances.
Mr Wen said he had high hopes for the Australian wool industry.
He said there was no other fibre like wool which gave the many advantages, comfort and versatility.
The 400-500 million middle class people in China who were passionate about wool provided the motivation to increase investment in Australia for wool production.
Australia China Business Council vice president, Barry White, said Tianyu had been a major player (buyer and processor) in the Australian wool market since the early 1990s.
It was based in Zhangjiagang, Jiangsu Province, and was one of the largest Australian wool processors in China.
Mr White said Tianyu owner, Wen Qingnan, had always wanted to establish a direct supply chain with Victorian wool producers.
With the purchase last year of the historic Lal Lal Estate he has begun to realise that ambition. His most recent acquisition is another major step in this process, he said.
Tianyu Topmaking had increasingly positioned itself as a major link between wool producers in Australia and its largest wool market, China.
Mr Wen has always been passionate about Australian wool and wants to become a major player in Victorias wool producing sector, he said.
The ACBC recognises the immense value of Tianyus direct involvement and investments in Victorias wool industry.
Mokanger and Lowana are currently operated as one, and combined have a total carrying capacity of about 25,000 dry-sheep-equivalents (DSE) or about 16 DSE/ha.
Chatsworth is listed for sale by expression of interest through CBRE Agribusiness.
CBRE Agribusiness director Shane McIntyre, said Chatsworth House was meticulously presented.
It reminds us all of the grandeur of pastoral affluence of the 1800s, while being noted for its ability to produce prime lamb, fine wool or beef, on a scale rarely found in the Western District, he said.
He said the property had received a widespread inquiry with demand balanced between Melbourne and Sydney-based families as well as existing Victorian and interstate primary producers and offshore investors.
The price range for the property was $22.5 to $25 million, he said.
With an area of 2400 hectares, Chatsworth House, is currently producing 15,000 prime lambs per year, and fattening over 300 head of beef twice a year.
The versatility of the property was evidenced by its excellent past cropping and wool growing ability. With a reliable 550-600mm annual rainfall, and productive rolling red and grey sandy loam soils.
Chatsworth House homestead was built in the 1860s, designed by noted architect Jams A Fox, covers 1200 sqm homestead and cost 20,000 pounds.
The proposed sale of Mount Fyans, Dundonnell, comprising 5900ha, and Rancho East, WA, was a response to what had been a particularly unsettling year for the Australian livestock and food supply industry, according to owners Harmony Agriculture and Food Companys (HAAFCO).
Harmony managing director, Steve Meerwald, said HAAFCOs ongoing strategy and investment would be redefined to focus on its Wagyu and grain-fed branded beef programs.
Focusing on domestic programs that we have substantial control over will reduce volatility and provide a stable base from which the business can continue to develop.