A massive agricultural holding in Victoria’s Western District is set to redefine the state’s property market, as the sprawling Mount Fyans Aggregation officially hits the market. Located north-east of Mortlake in a region renowned for its highly productive, high-rainfall livestock and cropping land, the 7,545-hectare estate is expected to fetch a record-breaking sum.
Speculation is already mounting that the property could sell for close to $100 million. If achieved, this would comfortably surpass the current Victorian farm price benchmark of $70 million, set in 2018 by the McBride family for their 46,677-hectare Telopea Downs holding. Furthermore, with an additional 5,000 hectares of adjoining land also up for grabs, the total potential package could command a staggering price exceeding $150 million.
Elders Real Estate agent Rob Rickard, who is managing the listing, described the scale of the operation as unprecedented for the region.
“It’s the largest holding I’ve ever been involved in, and probably the largest holding to be offered in south-west Victoria by a long shot,” Mr. Rickard said. He highlighted the land’s extraordinary capacity, noting it can run an impressive 100,000 dry sheep equivalents (DSE). “I don’t think you’d find too many places capable of that,” he added.
The property has seen significant capital investment in recent years, with the vendors focusing on long-term sustainability. Improvements include extensive upgrades to fencing and water infrastructure, as well as the conversion of the shearing shed from a four-stand to an expansive 14-stand operation. The aggregation also features a historic nine-bedroom bluestone homestead dating back to the 1880s, complemented by four staff residences, shearers’ quarters, and substantial grain storage capacity exceeding 9,000 tonnes.
The current owners, prominent Riverina wool producers Ian and Camilla Shippen, purchased Mount Fyans in 2018 for $37 million. Since then, they have significantly expanded the footprint of the aggregation. The decision to divest follows the Shippens’ reported $300 million acquisition earlier this year of the 122,935-hectare Deniliquin Aggregation, which includes iconic Merino properties like Wanganella and Boonoke.
While market observers are eyeing a $100 million sale, Mr. Rickard remains measured, noting that the broader market has cooled since its 2022 peak. According to the latest Bendigo Bank farmland values report, median prices in the region have declined by roughly 7.8 per cent over the past year.
“Prices have come off—it might be off 20 to 25 per cent from the peak—so there are some pretty good buying opportunities,” Mr. Rickard said. Despite the market shift, he remains optimistic about the value proposition of the land, asserting, “I think it’s probably the cheapest DSE country you’ll buy in Australia.”
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