Home sells for $4.5m then burns

The historic 1886-era homestead Glen Alpine near Tamworth has burnt down in suspicious circumstances.

The historic 1886 homestead Glen Alpine near Tamworth has burnt down, two days before its sale for $4.5 million was due to settle.

All that remains of the heritage-listed homestead that was designed by architect John Horbury Hunt are five chimney pots and the original cellar.

"We are absolutely devastated by this," said Cremorne-based buyer, landscaper-builder Antony Tisch, who with his wife Wendy exchanged on the 1335 hectare property in June and was expected to take possession of it late last week.

A passer-by took a photo of the blaze.

"Restoring this old house to its former glory was part of our retirement plan. Now it's just a nice block of land."

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Rural crime investigator Detective Senior Constable Scott Kellahan said police at Werris Creek noticed the blaze just after midnight on Wednesday October 8. It took fire crews several hours to bring the fire under control and no-one was in the property at the time.

Mr Tisch said they still plan to proceed on the settlement of the property, but that is not expected to take place until after court proceedings to determine what insurance on the residence is payable to either party.

The buyer who paid $4.5 million for the property is "devastated".

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Home sells for $4.5m then burns