The almost 500ha farming property at 1200 Princes Highway, Mount Moriac, takes in most of the volcanic feature, including the peak at 251m above sea level.
An entire western Victorian mountain top has changed hands as the historic farming property was offered for sale for the first time in 85 years.
The nearly 500ha of land surrounds the top of Mount Moriac, a prominent peak reaching 251m above sea level west of Geelong.
Mount Moriac is described as an inclined low cone, a volcanic eruption point that’s part of a sequence of volcanic landforms that area spread across Victoria’s Western District, making the land so fertile for agriculture.
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The property was offered as a whole or in four separate lots but was ultimately secured in its entirety.
HF Richardson selling agent Matt Poustie said the property at 1200 Princes Highway had “garnered an incredible amount of interest during the expressions of interest campaign which was not unexpected given the iconic nature of “The Mount” and the rarity of such a large parcel of land so close to a major city”.
“The views from the top are unparalleled and that, coupled with the multiple titles on offer, were major selling points for the property,” Mr Poustie said.
“Buyer interest was predominantly Victorian based, with some high-level interstate interest from NSW ag investors also, he said.
“The property was sold as a whole to one buyer, a Melbourne-based entity looking to expand and diversify their property portfolio into an agricultural holding and as a long-term land banking play,” Mr Poustie said.
Price expectations for the 485ha aggregation was around $16m to $18m when the property was listed last spring.
The property has been purchased as an agricultural holding.
The almost 500ha farming property at 1200 Princes Highway, Mount Moriac, takes in most of the volcanic feature, including the peak at 251m above sea level.
Mr Poustie declined the comment on the final sale price, but industry sources suggest the upper end of the price estimate was achieved.
The Champness family has owned the “the mount” for four generations, having built the landholding since 1939 in the district where there’s a popular pub on the highway, a recreation reserve and an memorial to artist Arthur Streeton, who was born in the area.
“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. You’re a long way up.”
The property has a 1940s era brick homestead on the property that Mr Poustie said has soul but needs renovation, plus a separate manager’s cottage from a bygone era, a two-stand shearing shed, a machinery shed and other shedding.
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