A local buyer has paid $1.5 million at an on-site auction today for the Roses' property near Beechworth to close a chapter in the farming history of the Murmungee district.
The 38 hectare (93 acre) property was offered by the estate of the last occupant of the farm who recently passed away at the age of 93.
He was the third generation of his family to own the farm.
Agents from Elders Rural of Wangaratta took the Roses to public auction today with the final price of $16,129 per acre meeting expectations.
The north east rural property is said to have good small farming and rural lifestyle appeal, just 10 minutes south of Beechworth.
The farm has an established garden and orchards surrounding the home and has been set up to run about 40 cattle and calves.
It features fertile, productive soils, a fully and quality fenced paddock subdivision with steel cattle yards, crush and loading ramp.
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The three-bedroom brick home is in good condition and presents as a great renovation or upgrading opportunity to provide an ideal family or rural living opportunity.
The property also has two reliable springs which afford a good water supply for livestock and domestic purposes.
Improvements included a hay shed, a two-stand shearing shed with a six by nine metre skillion extension which forms a machinery shed.
The previous owner was said to be a very keen gardener who created and maintained the garden and orchard areas surrounding the home.
Elders' Michael Everard said the property was generally popular with buyers.
"First there is the productive and useful land form of some size with established pastures and tree blocks in an attractive rural location," Mr Everard said.
"The original home while in sound liveable condition is the type of blank canvas that value can readily be added to by a renovation and some design flair by the new owner."
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