Home to the Greenwood family for four generations, a historic rural offering is quickly winning the hearts of buyers from as far as Western Australia.

Complete with a lake, beach and designer gardens, the 25-acre property at 94 Mount Bolton Road, Waubra, is priced at $2.5-$2.7 million.

Nestled in the small township of Waubra, about 30 km northwest of Ballarat, the estate harks back to 1855 when the land was purchased by John Greenwood, originally from Yorkshire, England.

Known as the gentleman farmer of Collingwood, Greenwood was the great-grandfather of the property’s present owner Andrew Greenwood.

Home to four generations of the Greenwood family, Eildon Springs was used over the years for grazing sheep, growing wheat and running horses for polo. The property was in the hands of other owners for some time before Andrew Greenwood bought it back.

The property is a rare offering in the region and has already attracted interest from as far as Western Australia, according to Barry Plant Ballarat agent Josh Coull.

“It is a standout in this area because of its size, architecture and picturesque setting,” he said.

“Those seeking a lifestyle change will find it absolutely enchanting.”

Built for John Greenwood’s son William and his wife Jane in 1894, the substantial Victorian homestead with brick footings and piers, weatherboard walls and an iron roof, was designed by Ballarat architects LH Vernon and Associates.

Heritage architect John Vernon from the same firm helped supervise the restoration of the house after Andrew Greenwood and his wife Carol took over in 2002.

“We have the original plans for the house, supplied as a gift by John Vernon,” Mr Greenwood said.

Vernon, who has since passed away, also was a high jumper who represented Australia in the 1956 Olympics, according to Mr Coull.

Grand with soaring ceilings and a long wide hall, the house displays original details, including the wooden chimney in the library and frieze work in the entrance hall, restored with advice from the National Trust.

A captivating living zone forms the heart of the home, where spacious drawing, dining and sitting rooms are linked by glass walls. Opening to a terrace, this area features stunning black marble fireplaces, and picture windows that capture spectacular vistas over sprawling gardens and the lake.

“This home is suited to entertaining on a grand scale,” Mr Coull said.

“A couple of weddings have been hosted at the property.”

There is also an open-plan kitchen and dining area that has been tastefully updated with quality Miele appliances, which flows to a courtyard.

This delightful alfresco area displays stonework salvaged from the property’s original house, which was built by John Greenwood, and is now derelict.

Comfortable with four big bedrooms, including the main with a bay window, walk-in wardrobe and ensuite, the family friendly floor plan has an updated main bathroom, fully fitted laundry room and three toilets.

There is a study or office, a cellar with a 20-dozen bottle cabinet, plus all the modern conveniences including gas, wood and electric bank heating as well as split-system air conditioning.

The house has been re-plumbed, re-wired, re-roofed and insulated in recent years, and features several updates, including new paintwork, wallpaper, window furnishings, double-glazing and pure wool carpets.

The Greenwoods have made improvements costing at least $1 million to the property, including the renewal of most fencing and sheds, substantial tree-planting including an oak arboretum, and the creation of an orchard.

Named Lake Edwards, an ornamental lake with a garden and picnic area, has also been constructed at Eildon Springs.

“About 100 tons of sand were brought in to create a beach for fun and recreation,” Mr Coull said.

Landscape designer Michael McCoy, host of the ABC TV series Dream Gardens, was engaged to rejuvenate the original garden with modern principles.

A sight to behold, it features a park of European trees, a raised-bed vegetable garden parterre, a croquet lawn, and themed rooms including a fragrant garden, woodland walk, and willows garden with seating.

With good annual rainfall, a well, water tanks, bores, rich volcanic soil, five paddocks plus a single stand woolshed and yard, the property makes an ideal hobby farm or to run stud stock.

“It’s perfect for retired farmers or horse enthusiasts,” Mr Coull said.

On the Sunraysia Highway, Waubra is a one hour and 30 minute-drive from Melbourne.

“It’s in a beautiful part of the world, and the drive along the way takes in views of green hills and yellow canola crops,” Mr Coull said.

And a 20-minute drive reaches Ballarat’s train station, hospital, shops, restaurants, art gallery and renowned schools, including Clarendon College, he added.