Carome is of historical significance to Victoria as the site of one of the State's earliest water powered flour mills. Remnants of the c1841 mill remain on the banks of the Plenty River, which forms the eastern boundary of the property. The site also contains other early elements including an 1860s bluestone homestead, primitive timber sheds, remnant orchards and a graveyard.
Peter Andrew Barrett in association with Robert Sands Architects undertook the Carome Conservation Management Plan, which will ensure that policies are put into place that will protect this significant heritage site.