2123 Kiewa Valley Highway, Kergunyah VIC 3691

Kiewa River frontage on 50 acres | 3-bed brick veneer with study and dual living | subdivided into 5 improved paddocks | auction May 30, 2026, after 10-year hold. The property’s primary strength is its rare combination of Kiewa River flats and elevated bank country, offering both flood-protected building sites and fertile irrigation potential. The 2-megalitre stock and domestic license plus the front dam create a self-sufficient water position that is increasingly hard to find in the Kiewa Valley. The residence itself is functional rather than premium, but the open-plan extension with ensuite and outdoor access gives flexibility for a home office, guest suite, or separate letting. This suits a buyer wanting to run small-scale livestock or horticulture while living on a single title with subdivision potential already laid out in five paddocks. The 2016 purchase price suggests the vendor has held through a period of moderate capital growth, which may influence their reserve expectations. The key risk is the property’s classification inconsistency across listings, which signals possible uncertainty about highest and best use or council zoning constraints that could affect financing or future subdivision. The residence is brick veneer from an era that may require updating, and the bathroom count discrepancy between sources should be verified onsite. The 10-year hold without a prior sale suggests the property has not been a quick trade, and the auction format on May 30 gives a fixed timeline for due diligence. For a buyer seeking lifestyle farming with genuine water security and river frontage, this is a viable long-term hold; the opportunity lies in negotiating from the position that the house is a secondary value driver to the land and water rights.