The block on Boundary Rd includes a recycle dam and pump with 4.6 Ml of high-reliability water and sold at auction for $367,000 or $11,400/ha ($4500/acre).
Hamid Esmaeilzadh, who works for Eurofins Agroscience Services, said he had purchased the block for testing the efficiency of agricultural chemicals on broadacre crops.
Eurofins Agroscience Services, based in Grant Crt, Shepparton, conducts trials on most crops across Australia, from arable crops to orchards, from vegetables and ornamentals to vineyards.
Bidding started at $320,000 with competition between two parties driving the figure slowly up to $367,000.
The lasered property, set up for irrigation with Padman stops, was offered by Anthony and Debra Tinkler of Shepparton and auctioned by Kevin Hicks Real Estate at a multi-vendor event on April 8.
Another 54 ha farm property at 605 Boundary Rd, Wunghnu, owned by Rex and Elaine Frecklington, sold for $498,000 or $9200/ha ($3600/acre).
Bidding started at $410,000 and paused at $460,000 after which the vendors confirmed it was on the market.
The property included stockyards and a hayshed, with five dams and an easement to Pine Lodge Creek.
Agent Kevin Hicks said the results indicated continuing strong interest in rural properties, and the company was looking for more listings to satisfy demand in areas like dairying.
Horticulture was not as buoyant, as the sector had been affected by a difficult harvest influenced by labour shortages.
Also at the multi-vendor auction, a 2.3 ha property at Harriman Rd, Waranga Shores — which includes a four-bedroom house, machinery shed and bungalow — was passed in at $675,000 and is now for private sale at $700,000.
A commercial office property at 9/294 Wyndham St, Shepparton was passed in at $260,000 and later sold for above the reserve price.
34°C