Bona Vista is of state historical significance as ail example of a 19th century suburban mansion with a tower still in a garden setting, although of later date. It has high architectural significance as an example of one of the earliest known examples of the use of the Queen Ann Revival style in Victoria, displaying an unusual combination of stylistic influences. Located in spacious grounds (recently designed and planted), it is
of aesthetic significance and has additional historical importance for its associations with the original Bona Vista (now named Grantham) which was also owned by the famous Hobson family.