For the first time in 20 years, Windarra on High has new owners.

The heritage-listed property in East Launceston dates back to the mid 1800s, with the house itself built in 1867.

It was once the home of Arthur Green, the son of Richard Green, who was the managing director of Launceston Gas Company from 1859, president of Launceston Chamber of Commerce, and an alderman, among many other roles.

Following in his father's footsteps, Arthur eventually became the secretary and manager of the gas company, staying in that role for 44 years before retiring a decade before his death.

He lived at Windarra with his wife, Florence, and the couple had four sons, and one daughter.

Arthur died at the property, in 1924, aged 81. The nine-bedroom house had since changed hands, and names, many times throughout the years.

But now, the Carters were calling it home.

Gordon and Susanna Carter, who had moved to Launceston three years ago, received a surprising phone call from their long-term family friends, Jeff and Cathy Charlesworth.

The Charlesworths asked the Carters were interested in purchasing the property.

They had been visiting Launceston from Brisbane, and spent a few nights at Windarra.

That was all it took for them to realise there was something special about the place.

The former Canadians had a history of owning investment properties, and were looking for a new challenge.

"We stayed for three nights, and it was for sale, and we got along really well with the owners," Mrs Charlesworth explained.

"I just felt a real love for it right away ... we had been looking for a place for quite a number of years.

"I just thought about Gordon and Susanna ... and I thought if Jeff brings it up then we will move forward. And a few days later, Jeff said 'you know that place we stayed at I just can't get it out of my mind, what if we look into buying it and see if Gordon and Susanna would like to run it', and that was enough for me. So we gave Gordon a call immediately."

Now, the two couples will run the business together, with Mrs Carter as the onsite manager, with the support of her husband, and the Charlesworths travelling back and forth between Queensland and Tasmania as needed.

For the Carters, it was a chance to create a home not only for themselves and their two young children, but for many others.

"We have always loved doing life with people, and creating a space where people can feel at home, and be rejuvenated and refreshed," Mr Carter said.

While the bed and breakfast was officially taking bookings, the first guests were not expected to stay at the property until later this week, with most of their first visitors checking in for Agfest.

The owners planned to renovate the property, but the renovations would focus mostly on the bathrooms, with little changes planned for the home's historic charm. After all, that was what made Windarra on High so special.