Racing car identity Rusty French offers up former Coles family-owned Balnarring estate Isla Vista

French’s national and international racing credits include winning in 935s, including the 1983 Australian GT Championship, the 1989 British GT Championship, the 2005 Japan Le Mans Classic, plus races at the Laguna Seca in California, USA.

Neighbouring an established vineyard, with award-winning wineries close by, the expansive rolling countryside features a Tuscan-style barn with three stalls, staff quarters and office space with approved permits to convert it into a 55-square-metre luxury residence. 

It also lends itself to construction of a new two-storey luxury residence with bay views, for which French had plans drawn up and a permit approved some time ago. Other amenities include a dam, 4000-plus planted trees, cattle yards, 60-metre by 20-metre outdoor arena with approved plans for an indoor dressage arena, and a small wetlands area. 

It is close to Merricks Beach and Balnarring village, as well as yachting facilities, surf breaks and a primary school. 

French bought the property in 2007 with dreams to convert it into an equestrian centre. 

These days, the former co-owner of Ford Performance Racing, sees the property as the perfect place to retire.

“If I had time to retire, which I don’t, it would be a great place to retire,” he said.

“What we love about it is the location, the fact it’s got that view across to Phillip Island. Sitting by the barbecue you can see Cowes straight across the bay. It’s really nice.

“It’s a great property, it’s far enough back off the road, there’s no road noise.” 

The property, marketed by Candice Blanch and Penny Perry of Homes & Acreage, promises “a privileged lifestyle” with “boundless opportunity”.

“To drive around the property when the sun’s setting, it is just superb,” said Blanch, who notes interest from several buyers.

One is looking to repurpose the barn as a whiskey distillery, while another has sights on building a luxury residence, she said.

“The location, views and land size; it’s quite unique to have that much land. And you have dual entrances, so multiple entry points.”

Blanche said some buyers struggled with how best to use the breadth of land.

“It’s hard for people to comprehend what they can do there,” she said.

However, she said, opening a cellar-door from the barn would be a great way to take advantage of next door neighbours’ private wine-production capabilities.

“There is a winery next door as well, but they only make the wine there, they don’t have a cellar-door, so if someone wanted to do a cellar door in that location, you could,” she said.

This was an idea French and his family explored.

“We went through that exercise and it is possible to convert the barn into a cellar-door,” he said.

“It’s a little bit unique, the barn is beautifully built and would probably cost about $3 million to build it today, the quality of it, and it’s got all the fencing and cattle yards.

“The way it was designed, it’s set up for horses, cattle and also the hobby car arena. The barn was built by Neil Williams, who designed all the shops in Balnarring.”

“If you were going to use the property to its fullest, you’d do what we were doing, running cattle and doing primary production.”

“This is not only a property where you can enjoy the location and the tranquillity of it, you’ve got lots of solutions as to what type of use you want to use on the land. If it’s primary production, that becomes a home business, a lifestyle business.

“Lots of people have lots of different ideas.”

“It has a beautiful set of stables, and a location in relation to the local riding centre in Merricks, next to Merricks General Store,” he said.

They used the land to graze cattle and cut “beautiful” hay every year, fit for horses or cattle.

“We run cows and cut them off at the moment because we have the place locked up for cutting grass hay and the hay that comes off our property is normally used for horses, it’s very good-quality hay.”

Garage, or workshed, infrastructure includes three-phase power, mains and tank water, and post-and-rail fencing. 

With historic ties to the Coles Group, one of Australia’s largest retail corporations, French recalls the property was one of three huge adjoining blocks left to a Coles nephew, prior to his purchase.

“The Coles family … the nephew who was left this property, was left with three properties,” he said.

“The chap I bought this from, he had the choice of the three, and he decided that out of the three blocks that this was the pick of the three of them. Of the other two: one was sold to the people next door who have got horses; and the other, behind us, has had a private vineyard established on it.”  

“It’s got really civilised views, so when you look out the back door you look at the established vineyard. You have rural surroundings around you, and you look across the bay at the front and you’re looking across to Phillip Island. 

“It’s a bit of a rare property in as much as whichever way you look you’ve got a pleasant view.”

One of Australia’s largest retail corporations, the Coles Group has more than 1800 outlets nationally, employing more than 120,000 staff.

In 1914, entrepreneur George James Coles, the son of a shopkeeper, founded the Coles Variety Store in Smith Street, Collingwood, Melbourne.

Coles aimed to offer affordable, everyday goods to Australians and business quickly grew thanks to its philosophy to sell “nothing over a shilling”.

By the 1960s Coles had become a major player in the supermarket industry, with the nation’s first free-standing supermarket opening in Balwyn, Victoria.