A prominent cropping and sheep farm near Esperance in Western Australia, associated with the descendants of a British tea entrepreneur, has hit the market with expectations of $50 million or more.

About 45 kilometres west of Esperance, on the state’s south coast, The Oaks spreads over 5295 hectares. Historically, the property has been an award-winning sheep farming enterprise run by the Malaysia-based Russell family, with more than half its land dedicated to pasture.