A RENOWNED grazing property at Kernot, held in the same hands for more than 60 years, sold at public auction last Friday, November 9 for a reported figure of $4,590,000 representing just over $11,000 an acre.
Owned by the Hunter brother, Andy and Willy, the property was being offered for genuine reasons and the market responded with more than 100 people in attendance at the Kernot Hall and the bidding opening at $3.5 million, progressing in $100,000 rises until it reached the equivalent of $11,000 an acre.
Selling agent, Barry Redmond of Landmark Harcourts Leongatha, said it was an excellent result.
“The going rate for good grazing land in this area appears to be around the $11,000 mark so we were expecting something around the mark but to get it on the day at auction is very pleasing,” Mr Redmond said.
“The vendors were very pleased with that as were the buyers from Melbourne.”
He said there were four bidders involved with the offers progressing in 23 bids at what was a lively auction.
“These are important community events and we thank everyone for attending and taking an interest in the sale,” Mr Redmond said.
The 168.7 hectare property (417 acres), ‘Mt Pleasant’ is located at 125 Edden Road, Kernot and is a well-renowned bullock fattening property in the area. Featuring rolling messmate to river flat country, ample water, excellent fencing, all-weather laneways, shelter belts, heavy duty stockyards, bitumen frontage and a nice brick veneer home with stunning rural views; it was described as a “once in a lifetime opportunity”.
For further details call Barry Redmond at Landmark Harcourts on 0477 622 292.
$11,000 an acre for iconic Kernot property