When they set out on their rural adventure 25 years ago their 39 hectare (90 acre) property near Hamilton in western Victoria, was considered a hobby farm before 'lifestyle' became the moniker of choice.

With steady investment over the years the Laceys converted two spare bedrooms in their historic homestead to B&B accommodation.

A vineyard was established and regular buyers found for the harvest as well as their own cellar door sales.

The homestead's period gardens are popular for weddings and other outdoor events.

The balance of the land is used to ready 100 fat lambs for sale at the peak pre-Christmas market period each year.

The Laceys have grown multiple income streams to support their rural lifestyle but now it's time to give someone else a go.

Offers of between $2.5 million-$2.7 million are sought by agents Charles Stewart for Pierrepoint Estate.

The Laceys say they have raised their family on the property over the past quarter of a century and feel now us the time they "explore new lifestyle opportunities".

The property is for sale by expressions of interest closing Friday, October 21.

Located at Tarrington, 10 minutes east of Hamilton, the property includes the original 1907 built double brick and five-bedroom homestead of Edwardian style which originally serviced a major surrounding pastoral holding.

It has had only three owners in its long lifetime.

The vendors have modified two of the bedrooms as self-contained and serviced accommodation facilities which has attracted strong patronage.

The gardens surrounding the home attract weddings, family and community celebrations for up to 200 people.

The soils are rich and ideal for grape growing and livestock.

Three blocks (each of five acres) have been planted to Chardonnay, Pinot Noir and Pinot Gris (six acres) which are well managed and are noted producers of quality wine grapes.

The vines in full bearing are currently handpicked with the grapes sold to an established wine maker in Ballarat.

Some of the harvest is made under contract into wines which are sold under Pierrepoint's own label to local food and district venues, through a personal client list and an on-property cellar door.

The own label wines have achieved multiple wine show awards.

The property is inclusive of quality Improvements including the cellar door, which is a major avenue for wine sales, the necessary farm infrastructure including all necessary farm buildings.

The two B&B suites nominally achieve 40 per cent occupancy year round while the homestead gardens of period style are a key setting for weddings and other events with outside caterers providing the needed support services.

"The vines have recently been hand pruned and are in full readiness for the coming 2023 vintage," the Laceys said.

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The grape plantings are supported by a 20 megalitre dam for supplementary irrigation.

Charles Stewart selling agent Andrew Dufty said everything was in place on this holding for a new owner with say a commercial business, or winemaking background to take this established holding to a new level of success.

Mr Dufty said the stylish Edwardian period homestead has multiple features like rooms of substantial scale and period detailing including original 12 feet high timber ceilings and ceiling roses, two, open fireplaces and a return bull nose a return veranda on three sides.

"The vineyard is an important asset and can continue to be owner operated with casual labour for seasonal tasks like hand pruning, vine training and grape picking."

For more information ahead of closing of expressions of Interest contact Andrew Dufty on 0419842 929 or Leeson White on 0448 226 579.