One of the most recognisable properties on the McIvor Highway is for sale for the first time in almost 40 years. The iconic Homebush Homestead is a unique and historic home and additional accommodation, set on almost 2.5 acres of land.
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With a $1 million price tag, Homebush also includes features such as pressed metal ceilings, stained glass windows, fireplaces, and period timberwork.
McKean McGregor Sales and Marketing manager, Brock Pinner said it was a unique property that had a lot of history.
"This is a place I go past regularly and I was really interested to get in to have a look and understand more about the history. It's very unique. The birthplace of Junortoun was under this roof, so there is a lot of history and heritage and it has been really well maintained on the property."
"It's like stepping back in time. Properties like this don't come around very often."

Homebush was the original name for Junortoun before it was changed to avoid confusion with Homebush in NSW. The property can play host to more than 20 people and until this year operated as a residential care facility for up to 29 residents. A commercial kitchen, office and storage as well as multiple dining, lounge, laundry and bathroom facilities are part of the property.

"The current vendors are in their 80s and purchased Homebush in the early 1980s," Mr Pinner said. "They extended the main residence to include accommodation. Residential accommodation meant they ran the aged care facility until about three or four months ago. No one in the family wanted to continue the business, so they decided to pull up stumps and sell.
"Everything is all fully functional and operational and to an extent, there is still furniture there available to use. It's ready for someone to take it on whether as a disability service, backpackers, hostel or something else."

Mr Pinner said he believed the price of $1 million made the property very reasonably priced. "It's very well priced at that level," he said. "There are a lot of buildings in it and there's probably some work that needs to be done but with properties that age and size people buying into them understand the work.

"The property market has certainly changed. A lot of that fear of missing out on the residential side has been taken away. This is different to a standard residential property in that it lends itself to an operator or possibly NDIS-type prospect. There is a return on investment potential for this property."

Written by Chris Pedlar, Bendigo Advertiser
First Featured in the Bendigo Advertiser, October 24, 2022