Description: Securing this superb lakeside property with its stunning period architecture, picturesque setting and rich history is almost a once-in-a-lifetime opportunity.
The spacious two-storey home, built by Colac's Bilson family in 1940 has hosted Prime Minister Robert Menzies for dinner, housed St Mary's nuns for a time and more recently comfortably raised a family with four boys.
But its future is up to the buyer who wants a beautifully unique family home in one of Colac's most prestigious locations or can see the potential income of a bed and breakfast or an amazing Airbnb opportunity.
The contemporary home boasts the style and elegance of a bygone era from its grand entry foyer, chandeliers and quality drapes to its gorgeous Axminster carpet.
The scale of the incredibly spacious, light-filled home, along with the vast living spaces is also exciting, particularly for entertainers or a growing family.
Downstairs you'll find a formal lounge, formal dining room, sitting room, open-plan kitchen-living room, laundry, bathroom and two separate toilets including one which adjoins a cloakroom providing entry from the remote-control garage.
The ground-floor study could also be perfect for a home office or even a sixth bedroom, depending on your needs.
Wander upstairs and you'll find five bedrooms with built-in wardrobes, including a grand master suite offering captivating views across Lake Colac, which can also be experienced from other north-facing rooms.
The second storey also boasts two separate bathrooms with toilets, and two linen presses off the spacious landing.
Outside you'll find even more to fall in love with, including a private courtyard, pergola, lovely landscaped gardens, a vegetable garden, fruit trees and three storage sheds.
The current owners have meticulously cared for the home for almost 15 years, maintaining its character and array of features including open fireplaces and original pedestal basin.
But they have also ensured the new owners will have nothing to update, the home includes central heating, reverse-cycle air conditioner in the kitchen-living area, ceiling fans in every bedroom, kitchen and study, and top quality kitchen appliances and new hot-water service.
There's plenty of opportunity to walk along the lake foreshore, across to the bowls club or to Colac's CBD - but that's only if you can drag yourself away from this immaculate home.