A central Gippsland dairy farm has sold for an amazing price of $18,293/acre

And it wasn't even publicly listed for sale.

The Killeen's Road farm takes in 66 hectares (164 acres) of choice Macalister Irrigation District country, about 10 minutes from Rosedale, about 10 minutes west of Sale.

At that price, the farm sold for a stellar $18,293 per acre.

Colleen Bye from CB Livestock and Property said the dairy farm was not for sale on the open market.

Two neighbours had shown interest in the property and Ms Bye negotiated with the farm owner and those interested neighbours for the big result.

The successful buyer bought the land as an expansion to their two existing dairy farms.

"I think it would nearly be a record in the Macalister Irrigation District or up there," she said.

With its origins from a soldier settlement scheme, the property was being operated as a small dairy milking about 110 cows.

The milking plant was a 10 a-side swing over Herringbone.

The herd had recently won awards and was sold separately to another local dairy farmer.

There were two older-style homes on the block.

Neighbours would have been attracted to its strong water resources with 194 megalitres of bore water and 199 megalitres of high reliability wheel water from Lake Glenmaggie.

"We at CB Livestock and Property have had the fortunate opportunity to sell the property and the herd of cows and are now holding the clearing sale this weekend," Ms Bye said.

The clearing sale is being held on-site at 118 Killens Road, Nambrok from 10am.

"There is still strong interest for farms and lifestyle properties, in the area with the agriculture industry looking positive in the future," she said.

The amazing sale comes as much bigger local dairy farm has been listed for sale about 10 minutes south of Lake Glenmaggie.

The dairy operation takes in 238ha (589 acres) with the capacity to milk around 550 cows and is on the market with a suggested price tag of around $9 million.

Buyers have the opportunity to purchase the current herd of about 450 cows and some plant and equipment on a walk-in walk-out basis.

Kirimi Farms is located at Heyfield with secure irrigation water from the Thomson River and the MID channels.

About a third of Victoria's dairy production is from Gippsland - 19 per cent of Australia's dairy production.

The property with two homes and one unit is for sale through Alex Scott and Staff by expressions of interest closing on January 19.

For more information contact Aaron Ralph from Alex Scott and Staff on 0456 215087.