AJ & PA McBride first considered purchasing property in the Telopea Downs area in 1974 when the board inspected the Blue Hills property. Although further north than the company's other high rainfall properties, the property is ideally located in the prime wool growing area of the Wimmera and has sand-over-clay soils similar to those found on Brooklyn Station.

When the company next evaluated the purchase in 2018, the Qatari based Hassad corporation had aggregated Blue Hills with eleven other properties in the Telopea Downs area since 2012. The property was purchased from Hassad in September 2018 and is now back in the hands of a wholly owned Australian Family company.

The property has a merino sheep flock with some crossbred influence, a beef herd and a large fodder and commercial cropping enterprise comprising wheat, barley, lupins, beans and canola. Additionally, since the beginning of 2023, Telopea Downs has been the home of the McBride Angus beef stud which use to operate from Brooklyn. The Angus beef stud was initially bought in-house in 2017 at Brooklyn Station. The stud provides bulls for the company's commercial herds as well as to other related parties.