Rodwells Ruralco Property has sold the long held ‘Kumbada’ farm holding at Jindivick of the Carnegie brothers who held it for 72 years.
Located close to the Drouin-Warragul growth area their Kumbada property of 228.5 hectares, or 564.6 acres, is one of the largest farm holdings in the bountiful district and is located just to the north of the Princes Highway-Jindivick Road junction.
Rodwells Ruralco Property’s selling agent Damien Minogue says that the property has been purchased by a local beef cattle farmer who with some redevelopment is proposing to implement a 300 cow and calf operation.
“The sale price is undisclosed but is in line with our pre-auction expectation of a sale in the region of $4 million.
“The public Auction scheduled for next Friday 8 December is now cancelled”.
Mr Minogue says that the property location is within a 10 to 20 kilometre radius of the strongly growing Warragul and Drouin residential communities and within about 100kms from the City.
Originally purchased by the Carnegie brothers’ parents as a small dairy operation the acquisition of neighbouring holdings over the years created the sequence of long ownership and now presents the property in four titles.
“The Carnegie family dairy-farmed for many years but more recently Peter and John Carnegie converted it to livestock grazing with recent light stocking.
“Over the years the Carnegie brothers have topped the Korumburra and more recently Leongatha markets many times with bullocks and vealers with their top quality grass-fed animals”.
Selling agent Damien Minogue of the Rodwells Ruralco Property Branch at Leongatha notes that the property has an attractive elevated and rolling landform including long distance views from its higher points to the south and east.
“The property has some timbered areas but is generally well pastured with an eleven paddock subdivision.
“The fencing is in fair to good condition and is supported by steel cattle handling facilities.
“The improvements comprise the original three-bedroom homestead, plus a manager’s cottage plus another old cottage in need of renovation.
“There are a number of support buildings including machinery sheds, an old dairy and the property has sealed road access.
“Good stock water resources are another feature with a creek frontage and a number of spring fed dams while this property is in a 900 mm annual average rainfall area”.
Mr Minogue adds that the Carnegie brothers are now of advanced ages and have recently been running just light stock numbers.
“The Kumbada holding, one of the largest freehold farm properties in the district, is held in four titles and came to the market after seventy-two years of ownership.
“I always considered it would be something of a signature sale as no comparable scale property has been offered in this area, nor will one probably be seen again and it is great to see it purchased by a local farming interest.
“The sale is to enable Peter and John Carnegie to retire and with its location, fundamental strengths and undoubted development potential I always anticipated it would be keenly sought” Mr Minogue says.