Rural property on Warrnambool outskirts fetches $945,000 at auction

A SALE price well above the reserve was achieved at an auction yesterday of a 63-hectare (155-acre) grazing property on Warrnambool’s north-western outskirts.

Auctioneer Brian Hancock, from Brian O’Halloran and Co real estate agents, said the property sold for $945,000, or $6100 an acre.

The Briars Lane property had been in the Patterson family for more than 70 years and sold to a farm family who lived nearby.

Mr Hancock said the price was one of the best achieved in recent times for a grazing property on Warrnambool’s outskirts.

He said there were two bidders for the property.

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