Historic Langi Willi Estate at Skipton with its 35-room mansion is for sale, but you'll need deep pockets

A grand historic Skipton mansion and estate that has been in the same family for four generations is on the market for more than $5 million.

Langi Willi Estate, at 3980 Glenelg Hwy, was built in the early 1900s and has a rich history, having hosted many dignitaries including members of the royal family, governors, prime ministers, test cricketers and Davis Cup tennis players.

The ornate 35-room mansion boasts 11 bedrooms, seven bathrooms, a grand entrance hall, large kitchen, multiple living areas and two other four bedroom houses on the estate's 167 acres.

Renowned architect Charles D'Ebro designed the arts and craft style home for George Russell, son of the property's original owner Phillip Russell, in 1903.

The property has been in the hands of the family for 157 years.

Large manicured gardens surround the home and two tennis courts, but the ornate pool and pool house are more recent additions.

For sale via expressions of interest with Melbourne real estate agents Kay&Burton, the property is also home to a historic mill and has a helicopter landing area if you'd prefer to arrive by air.

Agent Jamie Mi said the expected price point was $5 million to $5.5 million.

"This property has amazing architectural design and woodwork decoration not often seen in the modern day," said Ms Mi said.

For horse lovers there are old and new stables, a tack room and menage.

"After four generations the family still want a serious farm and are retaining land around the property, but they don't have a lot of use for the actual home - the current family is much smaller," Ms Mi said.

The property was offered for sale in 2016 but agents said it failed to sell, though its listing on Domain says it did sell at the time.