515 Grasslands Road, Boneo, VIC 3939 | House for sale | OnTheHouse
 
FOR SALE
Private Sale

515 Grasslands Road
Boneo VIC 3939

Bedrooms: 7
Bathrooms: 4
Car spaces: 22
Land area: 46.5ac
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Architectural designed coastal estate with award winning olive grove, income streams and grand single level residence.

A breathtaking 46.5 acre coastal holding delivering award winning olive oil, an industrial chic family residence of rare scale, commercial shedding infrastructure and sweeping views across Bass Strait and Port Phillip Bay, this is one of Cape Schanck’s most compelling lifestyle and income properties.
Cocooned in total privacy at the end of a long tree lined drive, 515 combines the romance of a working olive grove with a sprawling single level modern residence, resort style pool, boutique vineyard and serious agricultural infrastructure, minutes from The National Golf Club, beaches, Rosebud Shopping Precinct and Peninsula Link.
The striking industrial chic home features soaring ceilings, arched steel framed windows and polished concrete and parquetry flooring, with expansive open plan living and dining zones oriented to capture mesmerising coastal and hinterland views. Seven-bedroom accommodation on one level includes an indulgent main suite with large ensuite and robe, plus multiple guest suites ideal for multigenerational living, alongside flexible bedrooms/retreats that can double as home offices or studios.
A designer kitchen with long island, quality appliances and walk in pantry anchors the entertaining spaces, while hydronic heating, Philippe Cheminee wood fires and ceiling fans ensure year round comfort.
Outdoor living is resort style, with a heated inground pool framed by paved terraces, lawns and established natives, a covered alfresco deck for all weather dining and sunset drinks, fire pit terrace and generous level lawns for large scale gatherings or kids and pets. A separate self contained one bedroom unit with its own living, kitchen, bathroom and veranda is perfect for guests, extended family, caretaker or potential short stay income (STCA).
Set on approximately 46.5 acres (18.84ha) of gently undulating, highly usable land, the property includes an established olive grove producing award winning extra virgin olive oil under the 515 brand, small boutique vineyard, veggie gardens, orchard and native plantings, plus substantial farm infrastructure with machinery sheds, work shed with offices and cool room, storage bays and containers, greenhouse, water tanks, dam, horse shelter, paddocks and cattle yards. Extensive income producing storage facilities currently generate around $100k p.a. from secure storage, with clear potential to continue or diversify, subject to approvals.
Proudly marketed by the team at Peninsula Sotheby's International Realty.
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Property Details for 515 Grasslands Rd, Boneo

515 Grasslands Rd, Boneo is a 7 bedroom, 4 bathroom House with 22 parking spaces. The property has a land size of 46.5ac. The place is currently for sale with Peninsula Sothebys International Realty.

Building Type
House
Land Size
46.5ac
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About Boneo 3939

The size of Boneo is approximately 33.7 square kilometres. It has 9 parks covering nearly 17.9% of total area. The population of Boneo in 2016 was 354 people. By 2021 the population was 314 showing a population decline of 11.3% in the area during that time. The predominant age group in Boneo is 50-59 years. Households in Boneo are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Boneo work in a managers occupation.In 2021, 78.40% of the homes in Boneo were owner-occupied compared with 74.30% in 2016.

Boneo has 203 properties. Over the last 5 years, Houses in Boneo have seen a -30.85% decrease in median value. As at 31 January 2026:

  • The median value for Houses in Boneo is $2,139,779 while the median value for Units is $666,217.
There are currently 5 properties listed for sale, and no properties listed for rent in Boneo on OnTheHouse. According to Cotality's data, 3 properties were sold in the past 12 months in Boneo.

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Rob Curtain
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Danielle Vains
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Peninsula Sothebys International Realty
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