Piper Alderman has acted for the purchaser in Victoria's largest and most valuable rural property sale since 2008.
In a press release issued last Friday, head of Piper Alderman's agribusiness practice group Simon Venus said the $20 million sale of Mount Elephant Station, to a foreign investor, is a sign that investment in Australian agriculture is booming despite the global financial crisis.
"These types of projects indicate that the fundamentals have not changed. Food security and access to quality arable land will continue to drive investment, despite the vagaries of seasonal events," said Venus.
Mount Elephant Station is some of the best agricultural land in the state, with 3310 hectares of well-watered and fertile land used for both producing cereal and raising livestock.
Charles Bagot, the partner who handled the sale, stated that the demand for quality agricultural land was being driven upwards because of the worldwide demand for quality food products.
Bagot stated that investors, both foreign and domestic, were proactively monitoring and gaining exposure to Australian agricultural land in the hope of snaring a quality investment.