Sorrento's Nee Morna rumoured to have sold to BRW Rich Lister Andrew Buxton

Sorrento's Nee Morna, one of Victoria's most historic estates, is tipped to have been bought by BRW Rich Lister and property developer Andrew Buxton for $18.1 million.

After the sale sign came down, it has been reported by Domain that Buxton had secured the clifftop home on the Western Sister headland.

It had only been on offer for the second time in around 100 years.

Built in 1909 on a landholding spanning 16,866 sqm, the Federation home has eight bedrooms and five living areas.

Nee Morna, which means 'laughing water' in the language of the Bandjin and Dijru people, was sold by New York stockbroker Alex Lipe who restored the mansion.

The land had once been controlled by politician and entertainment entrepreneur George Coppin.

Andrew Buxton co-formed MAB, a leading Australian property development company, with his brother Michael.