515 Grasslands Road
Boneo, VI 3939

Overview

515 Grasslands Road

This architecturally designed coastal estate is a remarkable property set on approximately 46.5 acres (18.84 hectares) of gently undulating and highly usable land. It features an award-winning olive grove producing premium extra virgin olive oil under the 515 brand, alongside a boutique vineyard, vegetable gardens, orchard, and native plantings. The estate also includes substantial agricultural infrastructure such as machinery sheds, a work shed with offices and a cool room, storage bays and containers, a greenhouse, water tanks, a dam, horse shelter, paddocks, and cattle yards.

The grand single-level residence is designed with an industrial chic aesthetic, boasting soaring ceilings, arched steel-framed windows, and a combination of polished concrete and parquetry flooring. The expansive open-plan living and dining areas are oriented to capture stunning coastal and hinterland views across Bass Strait and Port Phillip Bay. The home offers seven bedrooms on one level, including a luxurious main suite with a large ensuite and walk-in robe. Multiple guest suites provide ideal accommodation for multigenerational living, and flexible bedrooms or retreats can serve as home offices or studios.

The designer kitchen is a centerpiece of the home, featuring a long island, high-quality appliances, and a walk-in pantry, anchoring the entertaining spaces. Comfort is ensured year-round with hydronic heating, Philippe Cheminee wood fires, and ceiling fans. Outdoor living is equally impressive, with a resort-style heated inground pool surrounded by paved terraces, lawns, and established native landscaping. A covered alfresco deck offers all-weather dining and sunset drinks, complemented by a fire pit terrace and generous level lawns suitable for large gatherings or play areas for children and pets.

A separate self-contained one-bedroom unit with its own living area, kitchen, bathroom, and veranda provides perfect accommodation for guests, extended family, caretakers, or potential short-stay income opportunities, subject to council approval.

The property is cocooned in total privacy at the end of a long tree-lined drive and is conveniently located minutes from The National Golf Club, pristine beaches, the Rosebud Shopping Precinct, and Peninsula Link. The estate combines the romance of a working olive grove with a sprawling modern residence and commercial shedding infrastructure, making it one of Cape Schanck’s most compelling lifestyle and income properties.

Extensive income-producing storage facilities currently generate approximately $100,000 per annum from secure storage, with clear potential to continue or diversify, subject to approvals. This unique offering presents an exceptional opportunity to acquire a prestigious coastal estate with multiple income streams and outstanding lifestyle amenities.

Location