One of Australia’s largest portfolios of dairy farms in Australia has been sold after ten years of ownership.
The aggregation of seven Victorian dairy farms was put up for sale last year by Duxton Asset Management, which owns the Ace Dairy Farms.
The farms are located in Victoria’s East Gippsland area and total more than two thousand hectares.
The final two farms, Whites and Donahoes, recently sold which brings to an end the decade-long investment.
Tim Corcoran from LAWD said the final two properties are still subject to the foreign investment review board.
“They are the final two to settle,” he said.
Mr Corcoran would not disclose the sale price, but media reporting suggested the total portfolio could be worth $70 million.
Mr Corcoran said there was interest from a number of parties.
“There was strong interest from various market sectors being corporate to smaller existing family operating dairy and beef enterprises. The sale ended up out of the seven farms, four went to an institutional fund group and the other three went to large family operations to be continued as dairies,” he said.