A small grazing block in South Gippsland has sold for a stunning $18,330 per acre.
There's not just one but two homes on this farm overlooking the Bass Coast which is just over 100km from Melbourne.
Nearby Wonthaggi has experienced a surge in lifestyle property interest from homeowners wanting to move from the city to the country which may also account for the $2.2 million sale price for the 49 hectare (120 acre) block.
Last month, The Airstrip in Woolamai, just a short distance from this most recent sale, sold for a stellar $2,275,000 for its 51ha (126 acres) of fertile grazing land for $18,056 per acre.
Back in May, a former dairy farm just five kilometres from the latest sale changed hands for almost $22,000 per acre at Bass Hills - a sale price of $4,681,600, about 20km north of Wonthaggi.
It was a spectacular pay day for the farm family which has owned the property for more than 50 years.
This Bass Hills farm took in 86ha (231 acres).
All three sales were managed by Andersen Property Specialists.
This latest $2.2m sale of the neighbouring farm at Pomfret Peak at Woolamai was across two titles, each with its own home, one offering two bedrooms and the second has three bedrooms.
Agents from Andersen Property Specialists say both homes are currently occupied by tenants who want to continue their lease agreements, steady income to help offset the high purchase cost.
At its heart Pomfret Peak remains a grazing farm with hay and machinery sheds, cattle yards and crush.
Eight dams are scattered throughout the property for stock water and the availability of water offers the potential for irrigation.
Average annual rainfall is around 900mm in this part of the world.
The farm is located on a private no-through road with undulating terrain and is located 10 minutes from Kilcunda and 15 minutes from Wonthaggi.
Don't miss out on all the latest rural property news. Sign up here to receive our free twice weekly Farmonline property newsletter.
Chris McLennan
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
