Leading real estate firm Charles Stewart keeping livestock lending business in Elders sale

The deal will be finalised on November 1 with the launch of Stewarts Livestock Finance Pty Ltd.

The firm is more than a century old, having been established in 1917 and is a fifth-generation family operation.

Charles Stewart employs more than 60 people across six locations in south-west Victoria - Colac, Camperdown, Geelong, Warrnambool, Hamilton and Ballarat.

Management and staff will remain employed under the Charles Stewart & Co brand as will its offices.

"We will continue to run the business as usual in our day to day operations, with the same personal service and culture that has always been provided," the firm said in a statement.

The business traditionally conducts a "significant amount" of rural, residential, and commercial property sales and leasing as well as its livestock agency in the region.

Charles Stewart will retain full ownership and operation of its livestock lending facility.

Elders chief executive Mark Allison said the Charles Stewart business has a strong history of service to the agricultural communities of south-west Victoria and would be a welcome addition to the Elders network.

"This is an exciting opportunity to strengthen Elders' presence in Victoria with a well-respected business," he said.

"Not only does it fill a key strategic gap for Elders in Victoria, it also allows for further growth opportunities in the future."

"Elders has built a well-respected team across Victoria and I expect the addition of Charles Stewart to complement this, with the team continuing on to ensure high-quality service for clients."