A Tallangatta Valley cattle property which has been under the same ownership for seven decades has changed hands after selling at auction for $5.6 million.
"Cravensville Park" and an adjoining smaller property "Cardwells" were snapped up by buyer who already has significant holdings in North-East Victoria and southern NSW at the auction conducted by Brian Unthank's rural division last Friday.
The sale ends a long association with the property for brothers, Ian, Graham and David Webb.
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The larger "Cravensville Park" consists of 564.96 hectares and "Cardwells" 126.67 hectares with 13 bidders registering for the auction from areas including Mossvale, Bendigo and Gippsland.
"The previous owners have had a great run with the property and have been producing top level beef since they got out of dairy farming about 30 years ago," agent Tom Hanrahan said.
"The quality of the cattle they have produced speak for themselves.
"You can drive people around every inch of the property and there is nothing out of place.
"It is a spectacular part of the world.
"We probably haven't had a rural property where we've had as many inspections and that is just a testament to the season we're having."
The farm is located 50 kilolmetres south-east of Tallangatta and sits in a high annual rainfall area of about 914mm with double frontage to Bucheen Creek.
The property has been subdivided into 21 paddocks with fencing in excellent order and three sets of steel cattle yards
There is also a four bedroom house and other features include large shed, lock up machinery shedding with power and concrete floor and strategically placed dog deterrent lighting.