Melbourne’s last operational dairy farm is being offered to the market, with local and overseas interest speculating on its future development potential.
Located in Melbourne’s south east growth corridor, the property at 320 Wedge Road, Skye occupies 80.54 ha of green wedge land, surrounded by housing.
It’s offered by Cameron’s John Guastella and Ben Cooper.
The farm in Skye is surrounded by houses. Picture: realcommercial.com.au
The site is operated by Gerry Kelly, a fifth generation dairy farmer who purchased it in the 1970s.
However, it’s time to move on, according to Mr Guastella.
“They’re all getting a bit older, and Gerry himself wants to buy a bigger dairy farm. You’ve got to be in dairy farming in a big way these days if you want to survive,” he said.
The land is in a growth corridor location and boasts one kilometre of road frontage.
The property borders Sandhurst Golf Course and its gated residential estate, and lies a kilometre from the growing Wedge Road Residential Estate.
Gerry Kelly and daughter Sarah. Picture: Facebook
Situated in the City of Frankston, Skye has a mix of semi-rural pockets and new housing developments. The rapidly developing suburb also neighbours high growth suburbs Carrum Downs and Cranbourne West.
“Some farming still occurs, but all around it is housing – and the green wedge section is very hard to do anything else but farm,” Mr Guastella said.
The sale has drawn substantial interest locally and from overseas potential buyers for its future development and rezoning potential, he added, subject to council approvals.
Buyers have been drawn to Carrum's affordable coastal lifestyle, helping lift median house prices above $1 million. Picture: realestate.com.au/sold
“$30-40 million is the parameter we expect it to sell in,” Mr Guastella said.
“We’ve had very strong interest, and it’s all from people who expect to see rezoning in the future – farmers won’t be buying that.
“There’ll be somebody who can see the future potential in the site and once councils and the state government realise that this is the only way forward to produce homes for people economically, then it’ll get rezoned.”
Potential buyers will be looking to the future. Picture: realcommercial.com.au
The property – sold via an expressions of interest campaign – is located minutes from major roads including Thompson Road, Westernport Hwy and Peninsula Link.
“It’s quite a substantial list of inquiries we’ve had. If you buy it and choose to live there, you’ve got a beautiful lifestyle, you’ve got a farm, and you’ve got openness. It’d be very nice to live there,” he said.
“But at the end of the day, anyone who does buy it will be looking for the future to change.”
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