The property, which is located about 40 kilometres west of Ballarat in central Victoria, comprises 4140 hectares of the state's best grazing and cropping land. It includes Trawalla's historic 14-bedroom homestead.
According to The Australian Financial Review, the property was sold on behalf of the Mackenzie family, which includes Caroline Pescott, the wife of businessman and former Victorian Liberal minister Roger Pescott.
The homestead, which was built around 1890, has 1200 square metres of living space, including four bathrooms and wraparound verandahs. It is surrounded by gardens inspired by Paul Bangay designs and several outbuildings. Trawalla is set on the banks of the Mount Emu Creek, and is considered one of Victoria's premier grazing properties. The property is suited to the production of fat lambs, wool and various crops.
The deal is the largest grazing property transaction in Victoria since the sale of Mount Elephant Station on behalf of the Baillieu family for $20 million to a Swedish Count in early 2010. The deal followed the sale of Glenfine Station in western Victoria to the United States pension fund Westchester for $21.4 million in 2008.