Historic Mortlake farm on the market but minus the homestead

After 25 years, the owner of Pyneyup is selling the 266 hectare (657 acre) freehold portion of the historic property but is hanging onto a small piece of land containing the homestead.

Agents have a suggested selling price of $6500-$7000 per acre which would price the farm block at around $4.26 million-$4.6 million.

On the market with Ray White Rural agent Max Brown, the fertile block is just 6km east of the Western District town and selling agent is Ray White Rural agent Max Brown.

"I am putting a sale expectation in the range from around $16,000 per hectare, or $6500 to $7000 per acre, in a district where holdings of this size are rarely available," Mr Brown said.

The property has been running a 180-200 cattle breeding herd.

This property is fenced as 11 paddocks around a laneway system and has significant water resources.

Agents say Pyneyup's pastures have been regularly top dressed with fertiliser and the holding has a 1.7km frontage to the Hamilton Highway.

Held across a single title, the freehold portion on offer is what remains of a soldier settlement scheme.

Agents say paddock fencing is in good order.

There is a large 25 megalitre dam with a submersible pump that supplies a 75mm water main throughout the holding.

It supplies concrete troughs sited on concrete pad foundations throughout the property as the stock watering system.

There are also five more dams, as well as a frontage to the seasonal Stony Creek.

Agents say the vendor spreads 60-70 tonnes of single superphosphate on the Phalaris pastures every two to three years and sometimes annually.

He has also taken agronomic advice to periodically address molybdenum soil supplements as well.

"This portion of the Pyneyup freehold is large enough to appeal to a serious local beef or cattle farming interest, especially operators in search of additional land," Mr Brown said.

"There are also a number of active dairy turnout blocks within the Mortlake area.

"Another option would be to apply for a building permit and to build a new home on what is a visually pleasing farm holding of scale."

For more information contact Mr Brown on 0429 854 772.