A powerhouse Penola district grazing farm which agents dubbed the "feed machine" is back on the market after selling at auction just 17 months ago.
The Grass is just outside Penola featuring a near-new 100-acre centre pivot plus a big irrigation licence on the 277 hectare (684 acre) property.
There is no suggested price for this sales campaign from TDC Livestock and Property which is offering The Grass by expressions of interest closing June 20.
The Penola RSL Hall was buzzing back in December 2022 when TDC sold the same farm at auction for a stellar $7 million, or $10,232 per acre.
They were heady times for record prices being paid for the reliable farm country in the south-east at that time
The sale of The Grass in late 2022 followed another auction just the day before for another long-held grazing block in the Lucindale area which sold for $5 million, or $8794 per acre.
According to Rural Bank's farm property sales report released this week, the Lower South East saw a slowing of price growth in 2023 "following a period of significant growth across the region since 2016 in which time the median price has quadrupled".
The number of farmland sales fell sharply last year, the lowest recorded since 2013.
Despite the low volume of sales "... it is clear that farmland across the Lower South East region remained highly sought after," the analysis found.
The Grass is back on the market, taking in the old square mile farm size in a secure rainfall area (around 730mm average per annum) 15km southwest of Penola off the Old Kalangadoo Road with a near-new pivot.
The farm features heavy loam soils which retain moisture for long periods allowing the strong clover, phalaris and ryegrass pastures to thrive.
At the rear of the property is the centre pivot and with the 127.5 megalitre water licence it adds the security of being able to produce feed when other areas are struggling.
Cattle facilities are at the front of the property alongside the 20mx13m hay shed.
The water to the property is via solar pumps to tanks which are scattered over the parcel, there is also rear access along a laneway.
Agents say The Grass is a "spring/summer feed machine".
For more information contact the agents from TDC - Mark De Garis on 0428 372124 or Tom Pearce on 0427 642138.
Chris McLennan
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
