Ageing home is a treasure from the time of the wool barons

The Hill family's historically significant Lawrence Park near Geelong is "currently showing its age", admitted joint agents for its sale.

Despite its rundown appearance, it is offered along with its with its 108 hectares (268 acres).at between $3,750,000 - $4,100,000.

"... it is solidly built and maintains its rural grandeur with future refurbishment likely an excellent and rewarding opportunity," agents say hopefully.

More than being one of the state's earliest homes, it was built for the Learmonth family which created a wool dynasty in the west, the earliest squatters.

These pastoral empires drove the state's speedy development, soon to be spurred on by the gold rushes.

Thomas Learmonth (senior) had travelled from Scotland to Van Diemen's Land and by 1835 had become a merchant in Hobart Town.

He also became a member of the Port Phillip Association formed to pursue the ideas of John Batman to colonise today's Victoria.

Thomas (Livingstone) Learmonth sent his four sons John, Thomas (junior), Somerville and Andrew to the new colony to find suitable farming land for the 3000 sheep they had accumulated.

While other members of the association settled Melbourne, Thomas chose Geelong as his headquarters and his son John built Laurence (later changed to Lawrence) Park at Batesford in 1845 - about 15km from Geelong.

The homestead was named after Thomas' former holding near Falkirk in Scotland.

Thomas Junior (19) and Somerville (18) were already exploring lands further west around Ballarat busily creating a wool empire following the advice from renowned wool expert Thomas Shaw.

They moved from Geelong to the Ballarat district and founded a succession of stations - Buninyong, Burrumbeet and the renowned Ercildoune using their newly acquired wealth to build much grander bluestone mansions than Lawrence Park.

They were also associated with Maiden Hills, Mt Mitchell, East and West Strathdownie plus Avoca and Wycheproof in the north.

The Merino rams bred at Ercildoune were in hot demand from the squatters which followed.

By 1873 the Learmonths had left Australia, and returned to Scotland with their riches.

The today much-expanded and heritage-listed homestead where the expansion began at Lawrence Park was famously built on the ashes of a less grand home which burned down during an attempt to smoke out a swarm of bees.

George Hill, also from Scotland, bought Lawrence Park it for 5913 pounds in the late 1860's and the Hill family have owned it ever since.

Despite its condition today, it still stands as a reminder of the earliest days of European settlement in the Port Phillip District.

Lawrence Park is an H-shaped colonial vernacular building with gabled roofs constructed of brick and stone.

Historians say with the alterations over the years little remains internally of the original features.

The five-bedroom Lawrence Park fronts the Moorabool River

Although no pictures were provided, the the lower level currently features numerous bedrooms and sitting rooms, a kitchen/dining room and bathroom - all still very functional, according to agents.

An ornate timber staircase leads to the upper level, featuring some of the most original rooms of the homestead.

Immediately outside, the surrounding gardens are well established with various smaller sheds and workshops nearby.

Dry stone walls line sections of the track down to the paddocks, currently cropped.

"This exceptional lifestyle property has a long and storied history, with a deep connection to the local region. It is now time for the next chapter to be written, the potential is immense and the rewards no doubt extraordinary," agents said.

It was previously listed for sale back in 2022.

For more information contact Andrew Rice from Charles Stewart and Co on 0457 105500 and joint agent Peter Lindeman from Elders Real Estate on 0418 525609