The 60-hectare estate at 2275 Portarlington Road features seven bedrooms, six bathrooms, “cigar bar-like” lounge, and stables that have been converted into four guest suites.

The 60-hectare estate at 2275 Portarlington Road features seven bedrooms, six bathrooms, "cigar bar-like" lounge, and stables that have been converted into four guest suites. Photo: Supplied

ANZ chief executive Mike Smith has dropped more than $10 million on an iconic Victorian coastal estate after offloading $17.3 million of the bank's shares.

Documents from the Victorian land titles office show that Mr Smith's wife Maria Shireen Smith has lodged a caveat on Spray Farm in Bellarine, indicating that the couple are the buyers of the multi-million dollar estate.

Though the official price is yet to be disclosed, Gerald Delany, of Kay & Burton, told Fairfax Media in January that there was interest ''just in excess of $12 million''.

It is also the venue where Olympic champion Cathy Freeman married stockbroker James Murch in 2009.

Photo: Supplied

The estate was sold by businessman and horsebreeder Rick Jamieson who bought the property in 2010 for $7.05 million through Bruce Falk of BFP Bruce Falk Property in conjunction with Kay & Burton.

This revelation follows speculation that Mr Smith has cashed in 545,000 shares late last month to use some of the money to buy an Australian property.

The 60-hectare estate at 2275 Portarlington Road features seven bedrooms, six bathrooms, “cigar bar-like” lounge, and stables that have been converted into four guest suites, is also the venue where Olympic champion Cathy Freeman married stockbroker James Murch in 2009.

The Bellarine property was first listed last March by Gerald Delany, of Kay & Burton. But the agency said they did not sell the property.

Despite talks of the estate being worth between $15 million and $20 million, Mr Delany said there has been no quoted price on the property.

Mr Falk said the recovery of the top end of the market would have helped the sale.