Hot contest expected for arguably the largest single landholding within 60km of Melbourne
A diverse range of domestic and international buyers are set to compete to acquire arguably the largest single landholding within a 60km radius of Melbourne.
Yaloak Estate, a massive 5,071ha property at 4662 Geelong-Ballan Road in Ballan, is due to hit the market next month through Colliers International’s Duncan McCulloch and James Beer, in conjunction with David Williams and Tim Faulkner of Kidder Williams.
Currently operated as a highly productive cropping and grazing enterprise, the property represents an unprecedented land bank opportunity with outstanding future potential.
Agents expect the well known, large scale landholding to attract keen interest from domestic and international land bankers, high net worth individuals and developers.
“This represents the biggest land banking opportunity to come to the market in recent years,” Mr McCulloch said. “However, it is also a highly productive agricultural enterprise and, as such, we anticipate an influx of interest from a wide range of buyer groups.”
The property comprises circa 2,003ha of arable land suitable for cropping, with the balance predominately utilised for grazing.
“Most of the grazing land has been further improved with perennial pastures as well as some areas with bi-annual pastures, together with a comprehensive fertiliser regime,” Mr Beer said. “In addition, substantial soil improvement programs including sub-soil manuring have historically been undertaken, allowing Yaloak Estate to boast some of the highest yielding crops in the state.”
There are extensive structural improvements of historic significance, including the Yaloak Estate Homestead (circa 1890), seven additional residences, numerous other structural improvements and the renowned Yaloak Polo Club.
Yaloak Estate also benefits from an executed wind farm agreement, which provides passive income for an incoming purchaser.
Mr McCulloch said the property’s prime position within easy travelling distance of not only the Melbourne CBD (60km) but also Ballarat (35km) and Geelong (44km) would further increase its appeal to buyers from all walks of life.
“Melbourne has become one of the fastest-growing cities in the developed world, racing away from the rest of Australia and doubling the rate of growth of most cities in advanced economies,” he said.
“The continued expansion of the City of Melbourne provides a unique opportunity for an astute long-term investor to capitalise on this outstanding growth opportunity, given both the ideal location of Yaloak Estate and the sheer scale of the landholding.”
Yaloak Estate is for sale by forthcoming International Expressions of Interest.