- Shannon Group places dairy enterprise on the market
- Located at the foothills of Victoria's Baw Baw ranges in Labertouche
- The property has been split into three segments, available for purchase together or separately
Located at the foothills of Victoria’s Baw Baw ranges, a dairy enterprise spread across a trio of properties has hit the market with price expectations close to $18 million.
The 372ha property has been aggregated and developed over the past 17 years by the Shannon Group.
The large-scale dairy operation is located in Labertouche just over an hour outside of Melbourne.
The site has been split into three segments, with offers accepted for the trio together or as three individual lots.
The primary, 178ha Pine Hill site features the dairy infrastructure and one residence, the 189ha Eastern Portion provides an additional milking platform and fodder production, and the 5ha Alcorn Road property was established as a ‘weekender’ for when the vendor visits the region.
The listing comes amid strong property value growth in regional Victoria.
March 2022 edition of Dairy Australia’s Situation and Outlook Report reported that Dairy farmers in most regions are well-placed for another profitable year.
CBRE’s Matt Childs and James Auty have been appointed to the sale campaign on behalf of the Shannon Group. The expressions of interest campaign closes 4 pm AEST on June 8.
“Properties of this scale, presentation and current operational condition rarely become available,” Mr Childs noted.
“Shannon Group has developed an impressive dairy enterprise at Pine Hill, which offers potential for alternate uses such as beef, equine or intensive irrigated cropping.
Matt Childs, Director CBRE Agribusiness
“Pine Hill also has significant urban-growth landbanking potential, given the expansion of Melbourne’s outer-eastern suburbs,” he said.
The Alcorn Road lot features an American barn, established and manicured landscaped gardens and a three- or four-bedroom, weekender-style home with a view across the farm towards the Baw Baw Ranges.v
This lot alone is expected to attract offers in excess of $1.7 million.
The Pine Hill site receives an annual average rainfall of 1,000mm, supplemented by multiple water supplies and infrastructure.
This primary lot is host to the modern manager’s residence which has three bedrooms and separate living areas.
Offers in excess of $16 million are anticipated for the Pine Hill and Eastern Portion lots combined.
A total of 361ha of the property is suitable for growing crops. The site’s soil is a mix of sandy loams to heavier black loam with alluvial qualities.
A rotational pasture program is practised encompassing rye and clover grasses, and crops including turnips, chicory, millet and plantain.
Shannon Group has been responsible for various renovations of the property. Improvements include a 50-stand Westfalia rotary dairy with two 10,000L vats, built-in 2007, calf, machinery, plant and hay shedding, a feed pad, loafing area, workshop, vet room, staff amenities and professional office space.
“The property’s infrastructure has been established and maintained to the highest standards to support the farming operations, and offers luxurious living conditions for two separate families.”
James Auty, Associate Director CBRE Agribusiness