Mt Fyans in the Western District of Victoria is set to be sold for the second time in two years for about $37 million.
The mooted buyers are Ian and Camilla Shippen, sheep farmers from the Riverina.
Harmony Beef and Cattle, a company ultimately owned by the major Chinese group He Sheng, paid $34 million in 2016.
The Shippens are expected to run sheep on the property, integrating it with their operations at Moulamein in the Riverina.
Beef Central reported the selling agent was Robert Claffey at Hamilton-based Kerr & Co Town and Country Real Estate in conjunction with Elders Real Estate.
Negotiating on the buy side was Sam Triggs of Inglis Rural Property.
The Mt Fyans aggregation covers 5900 hectares amassed over 25 years by the Earl, Keith Rous.
On its 2016 sale it carried a Black Angus herd of some 2800 breeders and 2000 sheep for prime lamb production.
Harmony had its grazing capacity of close to 10,000 head, indicating there was capacity to expand further.
Its eight bedroom historic homestead was built in the mid-1880s on the back of success of the Geelong brewery.
In 1883 William Cumming commissioned Warrnambool architect Andrew Kerr to design the elaborate homestead, which was completed the following year. An earlier homestead, and woodshed, had featured in a Louis Buvelot painting held by the National Gallery of Australia.
One of the largest farms in the Western district of Victoria, Mt Fyans at Dundonnell was long owned by by the Earl and Countess of Stradbroke.
He left England and his family’s Suffolk estate more than five decades ago to settle in Sydney.
His father was a former Lord Lieutenant of Suffolk and had been private secretary to the Governor of Victoria in 1946-47.