This article is from the Australian Property Journal archive
WESTERN Victorian farmers Charlie and Jenny Dean are hoping for north of $30 million for a large piece of historic cropping and grazing farmland.
The Deans have owned the 2,343-hectare Eurambeen Station for 12 years, and have run a large-sale mixed cropping and grazing enterprise on the 160-year-old property.
A year after their purchase, 60 hectares, the homestead and outbuildings were subdivided and sold. The homestead was then revitalised and opened to the public.
Elders Real Estate Ballarat’s Sean Simpson and Bram Gunn are expecting offers from $30 million to $32 million for Eurambeen.
The property is fenced into 46 paddocks and can carry 33,000 dry sheep equivalent across the property.
Improvements include a historic bluestone shearing shed, six-stand shearing shed, steel sheep yards and loading ramp, as well as steel cattle yards, loading ramp, machinery shed and a new Colorbond machinery shed.
The Fiery Creek, which traverses Eurambeen, which is also watered by two commercial bores, a centre pivot seven-tower irrigator, and a 200 megalitre irrigation licence.
Eurambeen Station originally formed part of the Mt Cole Station, which was a 40,000 sheep pastoral run occupied by brothers Alexander and Colin Campbell from the 1830s. They sold the property in the 1850s to the Begg family, who held the station through generations for 120 years.
Australian farmland values are at a turning point after a persistent period of strong growth, with the price of farmland up just 0.1% in the first half of 2023, according to Rural Bank. It is a significant change from the last four half-year periods, where growth ranged between 16% and 23%.
