The 122-hectare holding, with a kilometre of direct frontage to the Goulburn River, has been held as a horse stud for more than 20 years by Bob and his wife Rosemary, both successful Victorian breeders.

Twelve individual Group 1 stake-winners hailed from Wood Nook Farm, which includes an elegant 1870s four-bedroom homestead. Numerous sheds, paddocks and yards, a vet, stable, and self-contained manager's residence, built in the 1880s, and also with four bedrooms, were contained in the offering that carried a $7 million price tag.

The Scarboroughs renovated the buildings and restored the garden and property infrastructure - roads and fences - before listing it for sale.

Pat Rice & Hawkins Bart O'Sullivan and Peter Hawkins with Kay & Burton's Gowan Stubbings were the marketing agents.

Bob Scarborough announced he would retire as chairman with the MVRC in late 2015, after eight years (and 15 on the committee). In 2013, the racing veteran saw legendary horse Black Caviar win her 24th and last Victorian start at the Moonee Ponds track, which is set to undergo a major revamp and the addition of a new grandstand and apartment buildings.