GV Equine Hospital bought

Goulburn Valley Equine Hospital at Congupna has been bought by a Melbourne-based investor following a tight expression of interest campaign.

The world-class equine hospital hit the market in late February and received more than 100 inquiries across Victoria and New South Wales prior to its sale on March 12. Burgess Rawson director Shaun Venables, who managed the sale, said while the price was undisclosed, the market ‘‘certainly confirmed its worth’’.

‘‘This was a unique investment . . . exceeding the original low-to-mid-$3 million-range price expectation,’’ he said. ‘‘Spanning 34 ha, investors were attracted to the land size and also the reputation of the tenant, the University of Melbourne.’’

The hospital was acquired by the University of Melbourne in 2017, to provide clinical experience and training to Doctor of Veterinary Medicine students. Under the current leasing arrangements, the site will remain a specialist veterinary clinic with the University of Melbourne until 2029.

But Mr Venables said its future development potential couldn’t be overlooked. ‘‘The land falls just outside the Shepparton 2050 plan and is less than 10 minutes from the Shepparton CBD,’’ he said.

‘‘So its potential for a lucrative rezone at some point is inevitable.’’

The hospital was first opened by Jim Vasey and Angus McKinnon in 1989, as a specialist site based in Shepparton to assist horse owners, breeders and stud farm managers in the area.

Initially staffed by Dr Vasey and Dr McKinnon alone, the clinic has since grown to more than 40 staff and provides equine veterinary care, ambulatory services and specialist equine referral services in the fields of lameness, medicine, surgery and reproduction.

‘‘The Goulburn Valley Equine Hospital has such an amazing reputation and is so well regarded in the industry,’’ Mr Venables said. ‘‘And now with the university’s commitment to the business, one would expect that it will remain and evolve.

SOURCE: Shepparton News, Caitlin Cassidy