One of the Gippsland Lakes’ most significant waterfront properties is now on the market, with the family of Australian technology entrepreneur George Kepper listing their sprawling 180-acre coastal estate, Karra Downs, for sale.
Located at 160 Nungurner Jetty Road, Nungurner, Karra Downs has been under the Kepper family’s custodianship since 1985. The estate boasts a main homestead, a Manager’s Cottage, renovated machinery shed, workshop, cattle yards, and 1.8 kilometres of direct water frontage to Bancroft Bay and Boxes Creek, accessible via a private jetty.
The main homestead features five bedrooms and four bathrooms, with multiple living and dining areas positioned to maximise water views. Floor-to-ceiling windows, a modern kitchen, and an expansive outdoor terrace overlooking Bancroft Bay provide exceptional entertaining spaces.
The Manager’s Cottage adds four bedrooms, two bathrooms, a large kitchen and several living areas facing Boxes Creek, offering flexibility for multi-generational living, guest accommodation, or on-site management. Both residences are finished with striking timber detailing that gives the estate a cohesive architectural character.
A spokesperson for the Kepper family said, “Karra Downs has a way of peeling away the stress of work life. It has been a restorative place for us for over 40 years. We have put a great deal of work into setting the estate up for the next generation. It is a walk-up start for anyone that wants to soak in the serene landscapes, run livestock, or create a sanctuary of their own that is connected to both the water and countryside.”
The property also has a rich history. During World War II, the site was selected to lodge RAAF radio operators, chosen for its undulating hills that created natural blind spots. Later, George Kepper built the nearby Great Lakes Airfield to enable fly-in access to the estate.
Christie’s International Real Estate Victoria’s Sean Cussell, the exclusive agent for the sale, said, “Karra Downs truly is a generational estate. Its scale, commanding water frontage, extensive amenity, and multi-title flexibility make it an extraordinarily rare acquisition opportunity for the area. It is a turnkey trophy property with rich historical significance, remarkable craftsmanship, and direct access to one of Victoria’s most pristine coastal environments. Being just a 10-minute drive from Metung certainly elevates its lifestyle appeal.”
The estate sits across five individual titles, offering versatility for lifestyle, agricultural, equine, or eco-tourism pursuits (STCA). It is located eight kilometres from Metung village, 18 kilometres from Lakes Entrance, and 34 kilometres from Bairnsdale, approximately three hours’ drive from Melbourne.
Karra Downs is listed with a price guide of $7,000,000–$7,700,000 and will be sold via an Expressions of Interest campaign closing Friday, February 6, at 3pm.
