A WALLALOO East property has sold for more than $6.27 million at auction setting a precedent for the region, selling agents say.
The 2700 acre sheep and cropping holding was sold for $2325 an acre on Friday. It had belonged to the Ellen family since 1889.
The holding was first offered in seven separate lots but was bought by one buyer.
The property was auctioned by Rodwells Ruralco Property in conjunction with J B Barham Real Estate of Stawell.
J B Barham Real Estate selling agent Jim Barham said the sale was a "one-off" for the region.
"It's pretty much a rarity. It's been a long time since any property has been offered in the Wallaroo region, and it's a highly sought after area because of the location and land quality," he said.
"This property had been well farmed by one family for more than one hundred years. It is well balanced for both copping and sheep production."
Rodwells Ruralco Property selling agent Max Brown said property owners Graeme and Kaye Ellen had decided to sell the property because they were retiring from farming.
Mr Brown said the sale was strong for the region.
"It was a good, strong sale for that part of the Wimmera. About 80 people attended the auction and there were two bidders; it went back-and-forth quite a bit," he said.
"This sale shows that there is strong demand for quality farming land in the Wimmera, and that demand is outweighing supply.
"It would have been a long time since a land of this size was up for sale. We've had some pretty big sales this year, and we're always looking for more opportunities like this."
Although Mr Brown said he couldn't reveal the identity of the buyer, he said it was bought by a Wimmera farmer.
"The other bidder was also a Wimmera farmer," he said.
"It's a strong sign for a local person to be spending that amount of money. We're lucky that we've had a reasonable season this year compared to other region."
The land has traditionally been cropped on a four or five year rotation. It has been used to grow top wheat, barley, oats and canola, and was also used for a Merino sheep enterprise.
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