It is the third time in seven years the majestic South Canterbury homestead where a naval admiral plotted his strategy to keep New Zealand's waters safe has been put on the market.

Its place in history, its antique furnishings, pristine English gardens and a 2005 refurbishment makes it an "absolute gem" for anyone willing to dig deep into their pockets to buy the ten-bedroom property at Holme Station Homestead, just south of Timaru.

The red and white dwelling, where Lord John Jellicoe of Jutland lived while he planned how to keep enemy forces away from key British sea routes, has been on and off the market for the last seven years.

Previous reports show the luxury estate on Pareora River Rd currently listed as having a "price on application", had an initial price tag of $3.5m in 2011, and $4m in 2016.

Advertisement showed it last sold in 2003 for $450,00 - $10,000 less than its then capital value.

Bayleys agent responsible for the 10-bedroom property's latest listing, Sue Morton, said it was leased out to a private person from 2014 to 2016, after which it was put on the market again.

It was taken off the market in October 2017, before its current listing this year.

Morton said it offered a great opportunity for anyone looking to enter the niche luxury lodge accommodation market.

"During 2016 to 2017 the vendor had solid interest but not to the level seen now. The interest I have received is both international and domestic markets.

"It has been encouraging to see people out there recognising this home comes fully furnished - that is a massive bonus to any new owner."

Morton said the manor, which was a blend of old character and new, has been well cared for over the years.

"It has been meticulously enhanced by its current owners over a 16-year-period - including fastidious landscaping and nurturing of some of the original 110 native and introduced species of trees and the original rose-bed plantings."

She said the house which was built in 1911 was an "exceptional" example of New Zealand's great early homesteads, with many of its original features still intact.

"The pure grandeur and elegance of the manor is unbelievable, yet it is a wonderfully warm family home."

Holme Station, which has a rating valuation of $2.65m, was being used as a private and commercial retreat but could, she said, be easily converted into a high-end commercially-run lodge.

It was being sold complete with its furnishings, its own helicopter pad and even its antique crockery and cutlery in the kitchen pantry.

The manor was sprawled across 6.4ha of land in Otipua, near Timaru, and dates back to 1911 when it was built as a home for a pioneering family - the Elworthys - who used it as a farm.

It was a few years later, in 1919, used as a home base by Lord John Jellicoe of Jutland, the man who was said to be the mastermind behind the 1916 Battle of Jutland victory.

He also later went on to become one of the first Governor Generals of New Zealand.

Jellicoe spent several months at the homestead in 1919 preparing naval options to protect British sea lanes from the Japanese in the years after World War I.

The Asian nation's growing fleet of battleships and cruisers were said to pose a growing threat to the sea links between Britain, New Zealand, Australia and India.

Jellicoe arrived at the homestead with his family, servants, a wine-cellar collection and his horses after sailing to New Zealand's shores on the battle cruiser HMS New Zealand.

It's said the plans he developed for a major royal navy battle fleet in the Pacific shaped the then British Government's expansion of a huge naval base in Singapore.

He left the station after several months and went on to take up the post of Governor General, a position he held from 1920 to 1924.

The homestead's current owner is listed as the Holme Station Homestead Limited - of which the sole shareholder is Gareth James Morgan (not the founder of The Opportunities Party).

The picturesque facade of the manor and its neatly manicured lawns. Photo / Bayleys
The picturesque facade of the manor and its neatly manicured lawns. Photo / Bayleys