Big Riverina wool producers the Shippen family is selling their southern piece of the giant Woorndoo farm aggregation near Lake Bolac in Victoria's Western District.
Ian and Camilla Shippen bought their 1420 hectare (3509 acre) slice of Woorndoo back in 2021.
The original Woorndoo aggregation had totalled 3353ha (8285 acres) built by Laguna Bay Agricultural Fund, an investment vehicle backed by the Washington State Investment Board.
Clinton Ross, a cropper whose family has a long history south of the Grampians, bought the northern section.
The sale, which also included a "Central Hub" across 842ha (2081 acres) is said to have totalled $70m.
Offers are expected to reach around $25m for the Shippen's piece of the aggregation.
The family has built a reputation for buying and selling properties in NSW and Victoria to suit their big woolgrowing operation.
The Shippen family operates Banyandah Pastoral Co, best known for its merino enterprise at Moulamein in the southern Riverina of NSW.
Last year they bought two southern Riverina grazing properties, Rhyola and Inverness, totalling 9921ha (24,516 acres) for $16 million.
In 2018, they also purchased the 5900ha western Victorian grazing property, Mt Fyans, in a deal reportedly worth $37 million.
Mt Fyans had been owned by Chinese-backed Harmony Beef and Cattle
Located at Dundonnell, the Mt Fyans aggregation was put together over 25 years by the Earl of Stradbroke.
Due to extensive flooding in Riverina areas late last year the Shippens say they successfully trialled the shearing modules being developed by Australian Wool Innovation at Banyandah.
The Shippen's converted an existing hay shed into a 'shearing shed' by pouring a concrete slab, running power, adapting and building existing yards to complement the Race Delivery system.
Elders Real Estate agents are suggesting the mostly arable Woorndoo block has an expected price range or $7000 to $7500 per acre.
Laguna had invested heavily in developing state-of-the-art raised bed systems for cropping.
At that suggested price, the property would be worth $24.5 million-$26.3 million.
Agents said the property is mostly arable (more than 90pc) and has been highly developed and features intensive broadacre cropping land.
Average annual rainfall is said to be 582mm.
The property is currently sown to wheat, canola and improved pastures.
Woorndoo East has a four-bedroom brick veneer home, hay and machinery shedding, three-stand shearing shed and yards.
Fencing is said to be "excellent" with plenty of dam and bore water supplies plus 5.5km of bitumen road frontage.
"A versatile property that has been intensively developed for high yielding cropping, whilst also lending itself to sheep, cattle and fodder conservation," agents said.
Expressions of interest close on November 30.
For more information contact Rob Rickard from Elders on 0407 354025.
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.
