A fertile 85.7 hectares adjoining a pretty town near Wangaratta Victoria's King Valley offers a quiet lifestyle, together with land banking opportunities.
Only 20 minutes from the large regional centre, Elders Real Estate agent Michael Everard said many called the township of Moyhu "the Bright of Wangaratta".
Moyhu is home to leading grape growing and winemaking operations, as well as a thriving gourmet cultured and flavoured butter factory.
Mr Everard said intensive development may appeal to the purchaser.
"From a development and land banking aspect, it could be possible currently to subdivide into two by 40ha, or each 100 acre, rural lifestyle holdings with potential existing home building sites of appeal to take in the district and attractive King Valley aspects," he said.
"There are even a couple of potential small residential blocks along the main Wangaratta to Whitfield Road frontage which it may be possible to separate for home building purposes without impacting the two by 40ha potential."
The property sits within a Farm Zone on one title but a council future township development plan is in place.
"This property is not currently included in the plan, but it is obvious, given its position adjoining the township strip, that any longer-term future expansion of the permitted residential area may likely include this holding," Mr Everard said.
The property is offered for sale by a long-term local farmer consolidating his cattle grazing and breeding operation at his home next door.
Mr Everard described it as level, with highly productive alluvial soils and long road frontages along three sides.
The main bitumen road frontage on the eastern boundary is to the Wangaratta to Whitfield Road, the northern boundary is to the bitumen Glenrowan Road, while there's a formed and fenced laneway frontage along the western boundary, offering excellent access and visibility.
The holding also has southern boundary frontage to the reliable Boggy Creek.
Improvements include a securely fenced, six-paddock grazing subdivision with laneway access, a working set of steel cattle yards and a steel hay shed.
The vendor holds water rights with pumping entitlements from the Boggy Creek and can provide a water right at market rates for irrigation.
There are already 2-megalitre stock and domestic water rights and town water supply is also accessible.
The farmer-vendor said he had been running about 170 Angus cows on the 87ha holding.
Mr Everard said Elders Real Estate Wangaratta was inviting expressions of interest for the property, closing on March 16.
"Other district and less well located nearby and King Valley farm holdings have sold recently to strong buying demand and realising values of $15,000-18,000 per acre or higher," he said.
"Hence our expectation is for a selling price in excess of $3 million for this uniquely positioned parcel of farm-zoned land on the border of the strongly-sought Moyhu township."
Contact Elders Real Estate Wangaratta agent Michael Everard on 0408 653 161.
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