The state government has sold over 1,000 hectares of north-western Victorian farmland located in a flood prone area under a state buy-back initiative.
The land was said to have been sold to a successful local farmer according to abc.net.au, however neither a price or the buyer’s name have been disclosed.
Restrictions have been put in place ensuring future structures to be created on the land will not impact on future flooding.
The deal was introduced after Benjeroop was inundated by floods in early 2011.
A second 1,000 hectare of farmland is set to go on the market later in the year.