Famous Geelong Farm up for grabs
- By: "Farm Tender" News
- Agri Political News
- Sep 27, 2018
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One of Victoria's oldest and most renowned farming properties, 1800-hectare Woolbrook near Geelong, has been put up for sale with owners the Morrison family joining the rush of multi-generational farming families looking to cash in on demand from developers for land used for housing.
Offers in excess of $24 million are being sought for Woolbrook, which has been owned and farmed by three generations of the Morrison family since 1910.
Most recently it has been run as a mixed-farming operation producing dryland crops and prime lambs, but its selling agents are pitching it squarely at housing developers given its "land bank and future development potential".
"Not only does the property border the Teesdale township, but it is also a short distance from Inverleigh and Bannockburn, as well as Geelong. A portion of the land has also been earmarked for future low-density residential subdivision," said CBRE's Danny Thomas.
Mr Thomas is marketing the property with colleagues Duncan McCulloch and James Beer in conjunction with Ken McDonald of Richardson Real Estate.
Woolbrook is located close to Teesdale and about 28 kilometres west of Geelong. Its history dates back to 1837 when the first pastoral lease was held by the Learmonth brothers.
Later it was owned by James Bell, pastoralist and first editor of the Geelong Advertiser and then by Frederick William Fairbairn, pastoralist, Red Cross director, and sportsman.
The most noteworthy feature is the bluestone Woolbrook homestead complex on the west bank of Native Hut Creek. The Victorian Heritage Council calls it a "classic model of homestead life" and of "architectural significance" for its early Californian bungalow form and arts and crafts influences.
It is one of a number of historic farming properties that have been sold to developers with deep pockets. In May, Melbourne-based Zeng Xiong Lin paid about $200 million to buy a 600-hectare Deloraine farm from the Laffan family, who had owned and farmed it for the past 54 years.
More recently Melbourne Cup-winning trainer John Meagher sold his 82-hectare Sunbury farm, Huntly Lodge, to Mondous Property Group for about $50 million.
Two years ago, Melbourne's wealthy Baillieu family sold 4953-hectare Woodhouse Station, near Melton, for about $100 million to China's Fucheng Group.
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