A 600-hectare farm on the northern outskirts of Melbourne has been tipped on to the market as a future multibillion-dollar housing suburb with a $160 million asking price.

The property known as Deloraine Park at 500 Old Hume Highway in Beveridge, about 40 kilometres north of the Melbourne CBD, once formed part of a much larger 4872-hectare cattle farm, which has been owned by the Laffan family for the past 54 years.

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