Falk and Co sales manager Gary Attrill said there was "substantial" interest in the 78-acre parcel of land.

"We had a lot of interest from across Australia and interstate," he said.

Mr Attrill said the buyer was originally from the south-west and was looking to move back to the area.

He said he could not disclose the price achieved.

"The vendors were very happy with the result," Mr Attrill said.

Related news: Land sale triggers controversy

The Standard previously reported the vendor was asking for expressions of interest of $2 million or more.

In the lead up to the sale, the owner of the historic Woodbine homestead put up a sign which read "Save heritage land".

Paul Bridgeford said he was concerned the surrounding block would be bought by a developer.

At the time Mr Attrill said he had spoken with Moyne Shire Council officers, who had told him the land could be split into three 10-hectare blocks at most.

A Moyne Shire Council spokesman suggested any discussion of development was premature.

"The privately owned parcel of land for sale is zoned farming, but also has several overlays applied," he said. "Planning permits would likely be required for any development.

"No application has been lodged with Moyne Shire Council for re-zoning or planning permits for this parcel of land. If an application was lodged in the future, council would follow usual processes, which includes community consultation."

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