Ruyi Australia Group, a subsidiary of Chinese multinational Ruyi Group, is set to sell Larundel – a renowned rural estate in western Victoria.
Larundel comprises a significant western district landholding, offering a prestigious bluestone mansion which was built by the Austin Family and dates to the mid-1800s – a time reflective of the boom-era prosperity within the region.
The homestead is surrounded by two hectares (five acres) of private and formal landscaped gardens, designed by world-renowned garden designer Paul Bangay.
Currently operated as a producer of ultra-fine merino wool, lamb production and high yielding crops, the large-scale 942ha property is further supported by a balance of fertile plains, reliable annual rainfall and bushland bound by the Yarrowee River to the western boundary.
Danny Thomas and Shane McIntyre of CBRE’s Agribusiness team have been appointed to market the property for sale.
Mr Thomas said that the opportunity would appeal to both domestic and international high-net-worth individuals, local farming families seeking expansion or tourism/accommodation groups looking to develop boutique group accommodation.
“Just 30 minutes from Ballarat, 50 minutes from Geelong and 90 minutes from Melbourne, high-net-worth individuals looking for a rural landholding with a trophy homestead will be attracted to Larundel’s convenient location,” Mr Thomas added.
“The history of the property and its place within the nation’s agricultural history is another drawcard. Larundel offers a balance of fertile plains, rivers and bush, and its enduring success is a testament to the Austin family’s visionary approach to farming in the emerging colony.”
The former owners of Larundel are the well-known Kimberley family – owners of Just Jeans –undertook major renovations of the property in the 1990s.
Mr McIntyre noted the unique quality and splendour of Larundel offered a timeless investment for prospective buyers.
“It would be difficult to find a country estate that offers such comfortable living yet encompasses the elegance and stature of the era in which it was built.”
The property is being offered for sale on a walk-in-walk-out basis, including period furniture, artwork and garden sculptures.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
