One of the most spectacular historic homes and gardens in rural Australia is for sale

The spectacular storybook-style mansion of Dalvui at Terang in Victoria's western district, is a landmark of this nation's pastoral age.

It remains a highly productive farming enterprise with its 227 hectares (562 acres).

But its majestic Federation Queen Anne two-storey 10-bedroom and 26-room home and extensive gardens, said to be among the best in Australia, set it apart.

For many fans, Dalvui is the pick of all the remaining imposing mansions dotted about the Western District from the days of the squatters.

Since settlement Dalvui has only changed hands five times and has been the country home of Melbourne cardiologist Peter Habersberger and wife Pam for 26 years.

Agents are not suggesting a likely price for the sale, citing its uniqueness.

Elders agent Rob Rickard said there was no precedent for a combined historic home, notable gardens and farm like Dalvui to drawn on.

Dalvui is located on the rolling volcanic plains at the foot of Mt Noorat where the land was taken up in 1839 by Niel Black.

The Scottish pastoralist ran stock across a 17,612 hectare property in western Victoria in those very early days and founded a family dynasty.

He also built a far more plain looking mansion for himself at Glenormiston which in more recent times was sold it to the Victorian government to become an agricultural school.

Glenormiston still houses a marvellous staircase comprising 35 elaborate wooden panels carved by the master Robert Prenzel.

Dalvui also has a remarkable staircase, and the homestead showcases Prenzel carvings as well.

Following Black's death, his holdings were divided between his sons, and Dalvui was passed on to third son Niel Walter Black.

He developed the excellent soils using the abundant water supply.

Lincoln sheep and Shorthorn cattle originally graced Dalvui with Niel Walter being the first in the region to embrace dairying.

Its proud history in dairying continued and later saw the addition of a cheese making venture by the Donald family and in more recent years, has run successful beef cattle and sheep enterprises.

The present gardens (now a garden of national significance) date from 1898 when the landscape designer William Guilfoyle was commissioned by Niel Walter to advise on the layout and planting of the garden.

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The formidable house was completed during the 1907-1911 period and by then the garden was well established, today regarded as one of the signature gardens in the country.

The mansion was designed by Melbourne architects Beverley Ussher and Henry (Hardie) Kemp featuring white stucco, red terracotta tiles, casement windows, covered drive through entrance and substantial blackwood timber detailing.

That staircase, ornate ceilings, timber beams and panelling feature throughout the homestead.

The dining room was once home to an organ installed by Niel Walter Black, which was donated to Geelong Grammar School following his death.

Tragically, the year the incredible home was finished, Niel the younger sailed off to England to marry his fiancee and return to their new digs but his ship, the Waratah, disappeared presumed sunk on the way over in 1909.

He was aged 45.

He became engaged to Miss Jeannie Martin in 1897.

Others came to enjoy the formal and informal living spaces, large bedrooms suites and guest bedrooms all enjoy views to the garden and rural surrounds.

Dalvui is central to Terang, Camperdown and Mortlake.

The formal entrance, lined with Blackwood and Mahogany panelling leads to the central point of the homestead with reception and living rooms all being accessed from this grand foyer.

The carved staircase leads to the upper level and the large light filled bedroom suites and bathrooms.

It remains a working farm with workshop, steel cattle yards and various other shedding.

The property also hosts a four-bedroom manager's residence, historic stables and carriage house.

The farm has a 247 megalitre groundwater irrigation entitlement and the property is subdivided into 28 main paddocks suited to fattening, breeding, stud stock, dairy pursuits or fodder production.

The property has recently been running 180 spring calving beef cattle plus calves, replacement heifers, steers (sold at 12 months) plus run 140 first X ewes and lambs.

Under the terms of the sale, the successful buyer will be able to also buy all available livestock and equipment.

Dalvui is being sold through expression of interest by Elders Real Estate closing on November 16.

For more information contact the agent Rob Rickard on 0407 354025.