Peter and Jan Nolan have put on the market their grazing property and home Carlow, which measures about 117 hectares and lies 12 kilometres east of Wangaratta.

Mr Nolan's great-grandfather bought most of the land in the nineteenth century.

"He came to Tarrawingee in about 1860 and he built Plough Inn Hotel and after that he started acquiring paddocks as they came up," Mr Nolan said.

"He also built a stable to house the horses for the coaches that used to run to Beechworth."

Selling agency, Morris Bros Real Estate, Wangaratta, said one of the titles to Carlow, which had multiple road frontages and eight crown allotments, was first issued to the Nolan family in 1872.

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Mr Nolan has lived in the area all his life, with his parents longtime operators of Plough Inn Hotel.

"The thing we used to love most was the creek running through the property, where we used to go rabbiting and swimming and just generally mucking around," he said.

Carlow has always been a beef cattle farm, with seven main paddocks, electrified fences and water supply from three main bores to troughs.

"It's probably as good an area for beef cattle as you could possibly get," Mr Nolan said.

"It's been a very reliable rainfall and rich soil because of all the mining and alluvial deposits that came down from the sediment up in the mining in Beechworth."

Mr and Mrs Nolan's 21-year-old house includes four bedrooms, two living areas and two bathrooms, with high ceilings, evaporative cooling, solid fuel and gas heating plus verandahs.

There is a steel enclosed machinery shed/workshop, a two-car carport, a steel hay shed and two 22,000 litre rainwater tanks.

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Mr Nolan said Carlow had attracted quite a bit of interest from potential buyers since their decision to retire.

"I love cattle and I love farming," he said.

"I love doing things, improving the property, making things a bit better all the time.

"I'm a bit sad to be going but if we don't do it now it will be harder later on."

Carlow will be auctioned on site on Saturday October 19 at 11am. Further details on (03) 5721 2014.