Price drop for Karbeethong Lodge, Mallacoota

Sydney artisan jewellery designer Rosemary Luker and her tree surgeon partner Russell Freeman have dropped the asking price of Mallacoota's Karbeethong Lodge.

The historic 1903 residence now comes with $1.35 million plus hopes - down from $1.8 million - as the pair try and trigger a sale through Unique Estate's Nicolette van Wijngaarden.

The coastal Edwardian retreat on an inlet halfway between Sydney and Melbourne cost the couple $620,000 in 2001. They have restored and renovated the lodge during their ownership.

Luker and Freeman stumbled upon the place looking for a room and fell in love with it.

Set among fruit trees with access to a jetty, the 10 bedroom lodge sits on 4476 sqm of waterfront land and has hosted Australian and international guests, all the way back to poet Banjo Paterson.

This article first appeared in The Weekend Australian's Mansion Australia section.