Why these three brothers are about to become multi-millionaires
Three elderly brothers are about to become instant multi-millionaires, with their property in Melbourne’s outer north set to sell for more than $50 million.
Garry, Keith and Edward Troutbeck have hit property paydirt with their father’s 25-hectare dairy farm in Mickleham set to make them a mint.
The land was purchased by their parents for 500 pounds in 1935 and is now on the market for $50 million. It will now have the cattle, tractors and cars removed to make way for hundreds of housing lots.
Edward said he arrived in 1936, the year after his father bought the land. He’s now 82.
Garry added his father told him it “could be worth something eventually”.
“Well, Dad said ‘one day, you will come into a fortune but don’t sell it before you do’,” Garry said.
Jas Stephens Real Estate’s Craig Stephens said land like the Troutbeck brothers own is a rarity.
“They are fields of gold because basically they are very unique and scarce out there,” Mr Stephens said.
“And as the Melbourne suburbia line continues to crawl out in the north, east, south and west these farm lots become extremely valuable.”
Keith said he didn’t couldn’t believe the price tag.
“I thought it was a joke at the start, but it’s starting to sink home now,” he said.
Despite striking it mega-rich, the brothers won’t be splurging on fast cars or mansions.
They still want the simple life and plan to buy another farm away from the rat race.
“What are we going to do? Still what we’re doing today,” Edward said.
Garry added the trio plan to go on farming in another area.
“I’m too young a boy not to be farming,” he said.
