Walwa Station was established c.1839 by William Guy. In 1848 it was owned by Sydney G Watson, known as the "King of the Upper Murray" and the present homestead dates from around that time. The single storey structure is constructed of locally hand hewn timber. It comprises an L-shaped building with low hipped and gabled roofs and an encircling verandah. French windows open from most of the rooms onto the verandah. This is one of the finest homesteads in Victoria and survives from early times in close to its original condition. The building has associations with Sydney Watson, who was an important local pioneer and personality of great significance. The vernacular quality of the homestead with its timber construction, encircling verandah and French windowsis also most important. The hand-painted chimney breast is a notable feature of the interior. The homestead is superbly situated in the picturesque Upper Murray Valley. The homestead survives in close to its original condition. However, it requires careful attention and maintenance.