NK MehtaThe Mount Fyans sale is shaping up as one of the biggest farm deals Victoria has ever seen. The 7,545-hectare Mount Fyans Aggregation has just been listed in the state’s Western District. Moreover, early speculation suggests it could sell for close to $100 million. If that happens, it would easily become Victoria’s most expensive farm.
Where Is the Mount Fyans Aggregation?
Mount Fyans sits north-east of Mortlake in south-west Victoria. This part of the Western District is known for reliable rainfall and strong pasture growth. As a result, it supports both livestock grazing and cropping at a high level. For buyers, that combination matters far more than size alone.
The property can carry up to 100,000 DSE, or dry sheep equivalent. DSE measures how many adult sheep a farm can sustainably support. In other words, Mount Fyans can run around 100,000 sheep at full capacity. The selling agent, Rob Rickard of Elders Real Estate, has described it as the largest holding he has ever handled. He also believes it may be the biggest ever offered in the region.
What the Mount Fyans Sale Includes
The farm comes with much more than open paddocks. Its infrastructure has been steadily upgraded, and that adds real value for an operator. Key features include:
- A historic nine-bedroom bluestone homestead built in the 1880s
- Four staff residences and shearers’ quarters
- A 14-stand shearing shed, upgraded from four stands
- Multiple livestock handling yards and large machinery sheds
- Grain storage for more than 9,000 tonnes
According to the agent, the current owners spent hundreds of thousands of dollars on fencing and water systems. Similarly, the shearing shed expansion shows a clear focus on large-scale wool production.
Mount Fyans at a Glance
| Detail | Information |
|---|---|
| Property | Mount Fyans Aggregation |
| Location | North-east of Mortlake, Western District, Victoria |
| Size | 7,545 hectares |
| Carrying capacity | Up to 100,000 DSE |
| Speculated price | Close to $100 million |
| Price per hectare at $100m | About $13,254 |
| Purchased in 2018 for | $37 million (then 5,900 hectares) |
| Current Victorian record | $70 million (Telopea Downs, 2018) |
| Adjoining land also for sale | About 5,000 hectares |
| Possible total package | More than $150 million |
Who Is Selling and Why?
The vendors are Ian and Camilla Shippen, well-known wool producers from the Riverina. They bought Mount Fyans for $37 million in 2018. Since then, they have grown it from 5,900 hectares to its current size.
The timing of the sale is no surprise. Earlier this year, the Shippens reportedly spent around $300 million on the vast Deniliquin Aggregation. That 122,935-hectare deal included the famous Wanganella and Boonoke Merino studs. Consequently, the family appears to be reshaping its portfolio. They are also selling a 4,805-hectare livestock property east of Wagga Wagga.
Will Mount Fyans Break the Farmland Record?
Victoria’s current benchmark is the $70 million paid for Telopea Downs in 2018. However, that was a 46,677-hectare holding in low-rainfall country. Mount Fyans is far smaller but sits in much more productive land. Therefore, its value per hectare is likely to be considerably higher.
Even so, Mr Rickard has played down the $100 million figure. He expects a very strong result but believes the final price will land below that mark. Meanwhile, the wider market has cooled. Bendigo Bank’s latest farmland report shows the median price in south-west Victoria fell 7.8 per cent last year to $16,968 a hectare. The agent estimates values may now sit 20 to 25 per cent below their 2022 peak.
What This Means for Buyers
For well-funded buyers, this softer market could be an opening. Large, high-rainfall holdings rarely come up in one parcel. In addition, the option to buy roughly 5,000 hectares of neighbouring land creates a rare chance to build serious scale. Mr Rickard believes the country offers some of the best value per DSE in Australia right now.
Ultimately, the Mount Fyans sale will be a useful test of investor appetite for prime grazing land. Whatever the final figure, it is likely to set a new reference point for Victorian agriculture.
Frequently Asked Questions
How big is the Mount Fyans Aggregation?
It covers 7,545 hectares north-east of Mortlake in Victoria’s Western District.
How much could Mount Fyans sell for?
Speculation puts the price close to $100 million. The selling agent expects a strong result, though likely under that figure.
What is the current Victorian farmland price record?
The record is $70 million, paid for the 46,677-hectare Telopea Downs property in 2018.
How many sheep can Mount Fyans run?
The property can carry up to 100,000 DSE, which equals roughly 100,000 adult sheep.
