A Corowa resident has snapped up the property known as Mill Cottage in Wahgunyah before it could go to auction later this month.
The new owner bought the property for $425,000 and is set to occupy the home.
The historical property was originally constructed by John Foord, a pioneer of the district, and has been recently renovated.
Mr Foord operated a grain mill nearby and built the cottage as the home for his mill manager.
The property known as Mill Cottage is located at 3 Mill Street and was previously purchased at auction 15 years ago by a director of a prominent Melbourne construction company.
Mill Cottage boasts four large bedrooms, two bathrooms, a sitting room and open plan kitchen with a meals area and family room.
The solid brick original building has been enhanced by polished timber floors, the high ceilings have been retained and ornate plaster work replaced.
Upgraded services include gas hydronic heating with ducted evaporative air-conditioning.
Some of the detailing includes a marble surround open fire with marble topped work benches plus a modern gas stove and oven.
A covered alfresco area at the rear of the house provides an ideal gathering and entertainment area.