The property at 489 Conrod Straight has recently hit the market, with its location being the major selling point.

Leading the sale of this property is Raine and Horne Bathurst director Grant Maskill-Dowton, who feels privileged to have been chosen as the agent.

"I feel very privileged to have this property on the market, and not just because it's on Mount Panorama, but because its been in this family for as long as it has," he said.

"It's an emotional thing to be moving on, so it's an honour when they pick you to deal with that."

The property has been in the owners' family for generations and this is the first time in 88 years that it has become available for sale.

This, combined with many other factors, makes it a very rare opportunity.

"The house has never been offered for sale because it was built 88 years ago," Mr Maskill-Dowton said.

"Generally, 17 acres this close to town is rare anyway, let alone being on Mount Panorama.

"It's not just being on the track; the views are pretty spectacular, which you don't get anywhere else."

The property includes a main house and detached extension that together offer six bedrooms and three bathrooms.

Three of the bedrooms are in the main residence, which also has an open concept kitchen, meals and family area, a study and updated bathroom.

The extension includes the other three bedrooms, open concept living, a generous sunroom, and a modern family bathroom and ensuite to the master.

Both areas have undercover verandahs with "soaring views over town".

Additionally, the property offers sheds, a historic orchard, a 6.6-kilowatt solar system, and a town water connection and a dam.

While the property is best suited to residential uses, it's not outside the realms of possibility to repurpose it for commercial or other uses.

"There certainly is opportunities there for event accommodation, subject to council approval. There are other properties up here that do event accommodation and this property would certainly be in the same position for that as well," Mr Maskill-Dowton said.

The property will go to auction on Thursday, July 30, but reasonable offers will be considered prior to auction.

There will be no open home inspections for this property, so prospective buyers will need to contact Mr Maskill-Dowton to arrange a private viewing.

With the level of inquiry on this property already, he is confident the home will sell at auction, if not prior.