Despite the flooding rain, the property still went to auction in Shepparton, selling for $8.8 million.
The Frederick family has been farming Fredlim in Caniambo since 1878.
Despite the ongoing flood situation in Victoria, they proceeded with the sale of the 556 hectare property at the Parklake Hotel with more than 70 people in attendance. The property is made up of 10 titles but sold as a whole.
Selling agent Kevin Hicks from Kevin Hicks Real Estate said it sold above expectations.
“We kicked on with it,” he said.
“One of the vendors had to go via Melbourne from Bendigo to get there but all parties were present, in the end it was sold to a local family who also has land in Gippsland.”
He said it was a record per acre for the area.
“Absolutely, there’s been very comparable sales to this block.”
He wasn’t sure what it sold for back in 1878.
“There was a lot of heritage there; it's been well held since 1878.”
The Frederick family name is well known throughout the district for their high-achieving farming practices within the sheep and wool breeding circles, as well as some of the best breeding of Angus cattle.
However, Mr Hicks said Ivan and Nola Frederick decided now was the time to offer the property for sale.
Despite owner Ivan Frederic’s ill health, Mr Hicks said he was very involved in the sale and the price met his expectations.
“He knew what to expect and it made in excess of six thousand dollars an acre and that’s what he wanted,” Mr Hicks said.