The Ruralco Property Wangaratta office has sold at auction two ideal farming lots in a prime King Valley location at 1001 Lake Buffalo Road, Edi Upper.
Purchased at the on property auction by Melbourne based buyers the lots are thought to be planned for a hazelnut-truffle venture along with cattle grazing.
Both lots which face each other and are separated by the bitumen road are about fifteen kms east of the Whitfield township were offered separately on a non-contingent sale basis.
Lot 1 with an area of 44.14 hectares (or 109 acres) comprises ninety percent arable pasture with established tree lines retained.
Subdivided into three paddocks each with a dam, with a good usable set of stock yards and fencing that provides an effective grazing option.
Selling agent Dave Colvin from Ruralco Property says that Lot 1 sold for $274,000.
“While there is no house on this block there is an as on right ability to apply to the local Shire for a building permit, as there are plenty of desirable home sites on this holding that would access the delightful district views”.
Lot 2 also offered separately is opposite with a land area of 81.06 hectares (or 200 acres) on which is situated the three-bedroom timber residence, a four-bay machinery shed, a hay shed and a good set of cattle yards and sold for $720,000.
“This property historically was the home of the Polaris Hereford Stud so it offers good grazing potential, with established pastures, good fencing, and numerous paddock dams.
Mr Colvin says the rear boundary of this lot is to the Black Range Creek and a two megalitre stock and domestic water right is included which can be tapped from the Creek.
“The homestead is in good structural condition and is sited to enjoy the aspects to the Black Range.
“We received very strong enquiry with interest from Melbourne and local rural farming interests with one couple attending to bid from Gippsland.
“The local King Valley district is widely recognised for its viticultural success, growing tourism interest, with the local Whitfield village only minutes distant providing a variety of services, while the major regional city of Wangaratta is only fifty kilometres away” Dave Colvin says.
Further property information: Ruralco Property’s conjunctional agents Dave Colvin on 0407 500 239 or Andrew Gilmour on 0448 778 072.