Family of the original settlers pocket a stellar $5 million from North East farm sale

At that price, the historic farm made $11,710 per acre for the 172 hectare (427 acre) remaining block.

The suggested price range was around the $6 million mark and keen competition was expected for the sale.

Six generations after the land was first elected, and a little smaller in size, the Diffey's still own it but decided it was time to leave.

Agents from Elders Real Estate say it is one of the most admired historic farm and home properties on the Great Alpine Road at Everton.

Local legend has it the bushranger Ned Kelly was a visitor to the farm when the original property totalled more than 2000 acres.

It was also an important coach stop on the way to Myrtleford, Beechworth, and Bright to the east.

Just 16km east of Wangaratta, the property still has the substantial red brick homestead with bullnosed verandas.

The farm is divided seven paddocks and the land is held in six separate titles.

The farm has in recent years been leased to a local Angus cattle grazier.

There are significant stock and domestic water resources on the farm including two large, reliable dams.

Family members say the deep, top dam has never run dry and the bottom dam, with a surface area of 11 acres, is also reliable.

In the grounds of the homestead and garden are a historic well and a reliable pump equipped bore to 38 metres which supplies the household, garden and provides stock water to the immediate surrounds.

The historic Rose Park homestead of about 50 square metres has substantial renovation and refurbishment potential, although it is in sound structural condition and is currently lived in.

There are two original guest bedrooms, originally thought to have been the baby nursery and accommodation for the nurse.

An original cool room remains, as does a secure gun or storage room, an office, with an underground cellar with stair access that measures 2.8 by 3.2 metres.

The large garden, once home to many roses, still has the original specimen elms and a large Norfolk pine remain along the 150 metre driveway.

The 40ha paddock on the Diffey Lane corner is the site of the officially listed 850 metre long grass emergency airstrip for Tarrrawingee.

There is also a vacant steel hangar building which was originally hosted a local group of aviation enthusiasts.

It has a concrete floor and large entry and exit doors at either end and is now used as a machinery store.

There are three more substantial farm service buildings including a large open fronted multi bay garage or hay storage, a major engineering workshop, and the original shearing shed.

All the farm fencing is in good condition with working stock yards.

On a rear block is a blue metal rock quarry site which has been operated by a local contractor.

The sale was run by local Elders Real Estate agent Dave Colvin.