Bids of $12,500 an acre are expected for historic farm in Victoria's Kelly country

The King Valley farm also hosts the historic Angleside House and has been held by this family for a century.

The onsite action on Saturday, November 19 at 10.30am by Elders Real Estate will finalise the estate for the family of Bob Stagg who passed away in 2011.

The Angleside House takes in 120 hectares (297 acres) which has been leased out to a local grazier for many years.

The farm is just north of Moyhu township and 22km from Wangaratta.

READ MORE:

Held in two titles, the main block (200 acres) has access to the Wangaratta-Whitfield Road and includes double frontage to Boggy Creek and its billabongs.

The original homestead of about 40 squares still has the original front section with pressed metal ceilings, an attractive glass entry door with a distinctive front veranda and multiple rooms.

The rear part of the homestead was added in about 2000 with concrete blocks used to replicate the original brick of the home.

This space includes living, a second bathroom and kitchen and other facilities with the structure set in a mature garden.

The home has been rented but is offered with vacant possession.

There are plenty of water resources in tank storage, plus an equipped well.

Located in the yard behind the house are several distinctive old trees plus a collection of original farm buildings.

The second block (100 acres) includes a lockup shed and town water with two road frontages.

Elders Real Estate's Michael Everard said the "classic" historic farm could fairly readily be returned to showplace condition.

"While it holds a farm zoning its ideal location, the separately titled land parcels and position on the boundary of the Moyhu township, leads me to expect local farmers seeking extra land, and land banking for the future will have their eyes on this opportunity.

"After a century of family ownership, we are unlikely to see any equals on the market."

Based on recent sales results locally, Mr Everard expects bids to start around $12,500 acre to value the property about $4.5 million.