Mount Moriac: Future decided for entire mountain top sold near Geelong after 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.
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.
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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The vendor, Youth With a Mission Church, which runs a much-advertised not-for-profit Medical Ship charity, bought the huge 9147 sq m site at 1 Kent Road in 1999. The property, set in the English Counties precinct near Chatham Station, has some heritage protection. Carlton A boarding house operation behind Lygon Street, Carlton, is for sale after more than 30 years in the same family. Three properties at 236 and 238-40 Faraday Street and 12-18 Powell Lane, at its rear, are on two titles covering 598 sq m of land. Records show they last changed hands during the recession of the early 1990s for a total of $646,500. They're expected to fetch around $6 million. Colliers' Josef Dickinson, Aaron Choong and Philip Heberling have the listing. Broadie Broadmeadows' former Centrelink office has sold to a not-for-profit owner-occupier for $8.5 million after only three weeks on the market. 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