Sheep farmers take up historic Mt Fyans holding
Matthew Cranston and Nick Lenaghan
One of Victoria’s largest farms, Mount Fyans in the Western District has been taken over by Ian and Camilla Shippen, sheepfarmers from the Riverina, in a $37 million transaction.
It is the second time in just two years that the landmark grazing property with 5908 hectares at Dundonnell in the Western District has changed hands.
The agglomeration was amassed over 25 years by the Earl of Stradbroke, otherwise known as Keith Rous, who sold it for $34 million in 2016 to Harmony Beef and Cattle, a company ultimately owned by the major Chinese group He Sheng.
Lord Rous’ grandfather was George Rous, the third Earl of Stradbroke, who was Governor of Victoria from 1921 to 1931.
The property is renowned for its historic, eight-bedroom homestead, built in the mid-1880s to a design by renowned local architect Andrew Kerr.
The spine of the home is a 21-metre long hallway with ornate cornices and ceiling roses.
A feature of the property is its reticulated water system, comprising tanks and troughs throughout the farm. Springs and dams are also part of the system.
Along with infrastructure including cattle yards, the well-watered property is capable of carrying 70,000 DSE, or ‘dry sheep equivalent’, an industry metric indicating feed requirements.
Harmony is exiting the property as it recycles investment elsewhere into its livestock production and export business.
The Shippens are expected to run sheep on the property, integrating it with their operations at Moulamein in the Riverina.
The selling agent was Robert Claffey at Hamilton-based Kerr & Co Town and Country Real Estate in conjunction with Elders Real Estate.
Negotiating on the buy side was Sam Triggs of Inglis Rural Property.
“It shows the strength of the agricultural sector and the wool industry,” Mr Triggs told The Australian Financial Review.
“It’s a positive story to see an Australian family operator expanding and competing at a corporate level.”
