An iconic farming property at the summit of Mount Moriac in western Victoria has changed ownership for the first time in 85 years, marking a significant milestone in local agricultural history. The nearly 500 hectares of land, located just west of Geelong, has attracted considerable interest, illustrating the ongoing appeal of rural properties in this region.

Mount Moriac stands at 251 metres above sea level and is part of a sequence of volcanic landforms in Victoria’s Western District. This geological feature is renowned for its fertile soil, making it a desirable location for agricultural activities. The fertile landscape has contributed to the area’s historical significance in farming.

The property, located at 1200 Princes Highway, was listed for sale during an expressions of interest campaign that drew an impressive response. Matt Poustie, a selling agent from HF Richardson, noted the exceptional level of interest due to the property’s unique characteristics and prime location. “The views from the top are unparalleled, and that, coupled with the multiple titles on offer, were major selling points for the property,” he stated.

Buyer interest primarily came from within Victoria, with additional inquiries from agricultural investors in New South Wales. Ultimately, the land was sold as a single parcel to a Melbourne-based entity looking to diversify its portfolio with agricultural holdings for long-term investment.

When the property was listed in the spring, price expectations were estimated between $16 million and $18 million. Though Poustie refrained from confirming the final sale price, industry sources indicate that the upper end of the price range was likely achieved.

The Champness family, who have owned the property for four generations, have developed the land since 1939. The site features a prominent historical pub along the highway, a recreation reserve, and a memorial to celebrated artist Arthur Streeton, who was born in the vicinity. According to Poustie, “When you’re standing at the top of the mount, you can see everything – Torquay, Barwon Heads, Bellarine, Peninsula, Corio Bay, You Yangs Melbourne, Mount Elephant out to the northwest and Colac.” This expansive view further enhances the property’s allure.

The land also includes a 1940s-era brick homestead, described as having “soul” but requiring renovation. Additional structures on the property include a separate manager’s cottage from a bygone era, a two-stand shearing shed, a machinery shed, and other shedding facilities. This combination of historical charm and agricultural infrastructure presents a unique opportunity for the new owners.

As Mount Moriac continues to be revitalised, the sale exemplifies the ongoing interest in rural properties within proximity to major urban centres like Geelong, reflecting a broader trend in property investment.

Source: Noah Wire Services