Chinese tycoon Qingnan Wen buys up another farm in Victoria from pioneering Australian family who have farmed the area for 170 years

A Chinese wool tycoon has added a historic west Victorian farm to his portfolio of Australian properties.

Qingnan Wen from Tianyu Wool, Australia’s largest exporter of wool to China, bought the 1664.5ha mixed farm, named Nerrinyerie.

The property is located in the Wimmera region in Victoria’s south west.

Nerrinyerie was listed for sale earlier this year and expected offers between $19.5million and $21million – about $11,718 to $12,620 per hectare.

The actual price Mr Wen bought the property for has not been confirmed but it’s understood it was close to the expected price range, Weekly Times Now reported. 

Qingnan Wen, chairman of Tianyu Wool, bought the farm Nerrinyerie (above) in the Wimmera region

Pioneering Edgar family previously owned part of Nerrinyerie (above) since 1877 and have farmed in the areas for more than 170 years

Nerrinyerie was previously owned by the pioneering Edgar family. 

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Th Eedgar  family have owned part of the property since 1877 and have farmed in the areas for more than 170 years.

Mr Wen is the chairman, founder and owner of Tianyu Wool Industry, one of the world’s leading wool makers. 

He already owns several properties in rural Victoria, including three pastoral homes and 6000 hectares of land capable of carrying over 60,000 merino sheep.

Nerrinyerrie was recently home to 8,500 maternal composite ewes but previously farmed merinos for wool.

It’s expected Mr Wen will use the new property as part of Tianyu Wool’s production.

TDC Livestock and Property agents Tom Pearce and Mark DeGaris headed the sale.

Nerrinyerrie was recently home to 8,500 maternal composite ewes but previously farmed merinos for wool (pictured, a home on Nerrinyerrie)

‘We saw the property receive a high level of local and outside interest, both domestic and internationally,’ Mr Pearce said.

‘I would say Nerrinyerie had a higher level of interest to that of other properties recently. Properties of this scale and quality are hard to come by, so they will draw a high level of interest when presented to the market.

‘The level of interest and expressions also illustrates a good level of confidence in the rural sector.’