The 866-hectare Willatook property Koonongal and the 465-hectare Bushy Park at Woolsthorpe were both sold to Warrnambool business people.

Nick Adamson and Nick Allen, of selling agents Charles Stewart, Warrnambool, said there had been widespread interest in both properties, which were put to market by expressions of interest. Selling prices were not disclosed.

Koonongal has been owned by the Baulch family since the 19th century, originally being part of the Dunmore Run. 

The property features a classic red brick 1940s homestead and a second renovated three-bedroom weatherboard home.

The property has been running beef cattle in recent years but ran sheep for many years and features a large four-stand woolshed.

Bushy Park has been in the Habel family for more than 80 years. It was originally part of the historic Quamby run and features a five-bedroom Edwardian homestead built in the early 1900s. The property is well-known for its Charolais cattle but also runs a prime lamb operation. 

Both properties will remain in beef production.

“There appears to be some renewed confidence in grazing properties with the market bottoming out during the early part of 2013,” Mr Adamson said.

A large three-bedroom house at Peterborough scheduled for auction yesterday sold prior to auction.

Agent Gerard Delaney, of Landmark Harcourts Timboon, said the property, which was listed for auction at an indicative price of $270,000 to $300,000, sold to a Melbourne buyer with family in the area at a price “exceeding the vendor’s expectations”.