SEFTON Estate was taken off the market yesterday, one day before it was due to be auctioned.
The grand Mt Macedon property, which has been home to a range of high profile people including entrepreneur John Elliott, was excepted to sell for about $12 million.
It was due to be auctioned at noon today.
Keatings Real Estate agent John Keating said Sefton had attracted strong interest in the lead up to the auction but the owners of the property ``had a change of heart about selling it''.
"There was quite a lot of inquiry on the property...and there were several bonafide parties interested in the property,'' Mr Keating said.
``Unfortunately for us though, and for the potential buyers, the owner has changed his mind and decided to withdraw the property from sale.''
The 8.8ha property was listed for sale with a reserve price of $4.62 million in 2005 and sold for a Victorian record price of $8.17 million.
It boasts a mansion, built by the Baillieu family in 1907, a nine-hole golf course, tennis court, croquet lawn and heated outdoor pool.
