Only several observers and one interested party turned up to the auction of the 1825 homestead at the Ray White, Goulburn rooms.

Agent Garry Hall said the property was passed in on the vendor's $3 million bid.

"No one was in a position to bid because they needed to carry out their due diligence on the property because of the heritage buildings' significance," he said.

"A lot of people are doing their research and we're not far off a sale...We expect to sell within coming weeks," he said.

Negotiations are underway with five potential buyers, in light of the $3m starting point.

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Mr Hall said the parties were from Sydney, Canberra and the Southern Highlands 

The property has price expectations of $3.8m. It includes a renovated homestead, 35 acres of land, a stone ballroom, working vineyard, convict-built two-storey stone stables and coach house. There is also a separate four-bedroom house, two one-bedroom cottages and a two-bedroom cottage, returning $920 per week.

Plans for a 41-lot residential subdivision have been drawn up but have not been approved. Agents said there was potential for more lots.

Lansdowne dates back to 1825 and pioneer William Bradley's settlement of the area. Owners Tracie and Mark Simon are selling the property for the first time in 67 years. 

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