Three brothers are set to become multi-millionaires after selling the Melbourne farm their parents bought for £500 in 1935.
Edward, Garry and Keith Troutbeck were told by their parents that their 25-hectare property would one day land them a fortune and while it’s taken more than eight decades to get there, their pay day has finally arrived – and it’s a big one.
The farm is set to make the brothers a whopping $50million, a far cry from the £500 – which would estimate to about $45,000 with today’s inflation – their parents snagged the place for.
The farm in the Melbourne suburb of Mickleham, just 45 minutes from the CBD, will go under the hammer next month with a number of property developers said to be interested in the modest weatherboard home
Speaking to 7 News, Keith Troutbeck said he knew they were sitting on a goldmine when his dad mentioned: ‘One day, one day, you’ll come into a fortune’ and was warned not to sell it before they reach millions’, he said.
The three elderly farmers, aged between 70 and 82, have only known the confines of their home, having worked their entire lives on the farm.
But with more than 80 years of hard work under their belts they’re now ready to step away from it all and reap the benefits.
The three brothers aged between 70 and 82 have been working on the dairy farm since their parents purchased it for 500 pounds ($45,000 today) in 1935
The brothers will pocket about $15 million each but the joke of them coming into sudden riches in their golden years is not lost on them.
‘Forty-five years I’ve been playing Tatts Lotto and never hit the jackpot’ Edward said.
Even with the brothers becoming multi-millionaires, they still want to get their hands dirty, saying they’ll continue farming just somewhere more private.
The modest home which sits on a sprawling dairy farm located just 45 minutes out of Melbourne’s CBD- is set to reach a whopping $50 million
Despite their plight to stay grounded, they’re very wary that some people may not be.
Talking to The Weekly Times Edward explained: ‘The women have come out and given us good advice,’ he said.
‘Be careful, all these young women will be after you, marry you for 12 months and say – ”oh we want our money” – we’re not that stupid.’
When sold, developers are expected to divide the land up into hundreds of residential plots for first home buyers.
The three brothers wish to continue farming despite their new riches but will most likely move to a more secluded area