$20 million NSW property gifted to trust

A NSW heritage property worth approximately $20 million has been gifted to the National Trust of Australia, making it the largest donation on record.

Philanthropic former newspaperman James Fairfax has handed over his historic Retford Park property at Bowral in the state's southern highlands, along with a multimillion dollar endowment for the property's ongoing conservation and maintenance.

"It has long been my wish that Retford Park be preserved so that future generations can see how the property was lived in and used," Mr Fairfax said on Tuesday.

Set over 32 hectares, the Old South Road house and garden will be opened to tourists and heritage lovers.

Once home to Mr Fairfax, Retford Park was used to entertain guests ranging from members of the British and European royal families and Australian prime ministers to numerous artists from around the world.

It was bought for 15,000 pounds in 1964 with a four-hectare holding.

The property includes historic stables from the house's completion in 1887, a National Trust spokeswoman said.