IT HAS not been officially disclosed but all indications are that the sale price for an iconic grazing property at Tarwin Lower has broken all records locally.
The property, known locally under two names – ‘Burrabadeen and Nardoo’ – is located just outside the township of Tarwin Lower, on Walkerville Road and totalled 3089 acres.
Selling agent for Elders Korumburra Don Olden said last week that it was a very pleasing result for all concerned.
“To the best of my knowledge this would be the largest holding of land in one piece to be sold in South Gippsland and I think we can safely say that the price achieved would also be a record in South Gippsland,” Mr Olden said.
“The exact sale price has not been disclosed but I think we can safely say it sets a new record and that’s completely understandable given the size of the holding.”
Mr Olden said that properties had been routinely sold in South Gippsland up to the $10 million mark as going concerns but he acknowledged the Tarwin Lower property was valued at well in excess of that mark.
The sale of the property was negotiated jointly between Mr Olden locally and his Melbourne-based colleague Nick Meyer around Christmas time and was due to be settled in April.
One of the final strokes in the sale process was a highly successful clearing sale at Burrabadeen last Friday, March 23 where a huge crowd of South Gippsland farmers witnessed a 100 per cent clearance of the property’s own lots and a virtual clearance of outside entries as well.
“We sold everything,” said Alex Dixon of Elders Korumburra, “except for a couple of tractors put in by outside vendors. The rest was sold.”
And both the vendors and the agents were pleased with the results.
The farmers walked away with some bargains as well with all of the machinery in good working order and selling for a fraction of new/replacement cost.
Peter Waters of Mardan was one of the pleased locals who got what he wanted, a tractor mounted grader blade in good condition.
“Yeah, I was pretty happy with the price,” he said.
Both the vendors and the couple from the south-east Melbourne fringe were present to see the clearing sale conducted.
The buyers are farm property owners on the edge of the south-east urban sprawl and were looking for a large piece of land further out. They’ve certainly got that
Tarwin Lower property sale sets ‘new record’