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.