A buyer will consider they have landed a bargain by paying $4.1 million for a long-held Drouin farm with plenty of work ahead.
The admittedly rundown farm across 121 hectares (299 acres) of west Gippsland has two old dairies and was initially offered for sale in a price range of $4.85m-$5.25m.
The farm's owners have accepted the $4.1m offer which still values the property at a very handy $13,712 per acre.
Rundown or not, Drouin is well regarded for its rich dairying country - with highly fertile red/chocolate soils and an average annual rainfall of around 950mm.
Agents from Harcourts Warragul said the farm has been held by the same family for more than 80 years but hasn't been worked to its best for some time.
The farm is located about 10km north-west of Warragul.
"But the land is top notch and has a northerly aspect," agents said..
Its two herringbone style dairies are both disused.
One has had the floor concreted in and is currently being used as a shed.
It also has two homes on the property, again one is in fair conditions and the second "needs major repairs or even knock down," agents said.
The property is held in six titles which the agent said might attract a prospective buyer if they were considering further development or even subdivision of the land in the future.
The farm has two hay sheds, two machinery sheds and assorted other shedding plus a set of stock yards described as excellent.
Truck access to the property is said to be very good "with room for B doubles to get in and out with ease".
There is a permanent creek running across the property although stock water is supplied by town water.
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.
