"How's the serenity? So much serenity," the fictitious Darryl Kerrigan famously said.

But for Max Carter the serenity of his piece of Australia at Marong, near Bendigo, is reality.

Five generations of the Carter family have lived on the land over almost 100 years but over the past decade, like the Kerrigans in the classic Australian movie The Castle, they've been battling to keep it.

Max Carter has been fighting to keep his land for 16 years. ( ABC News: Lauren Day )

"It's 16 years since we had a real estate turn up anonymously one day," Mr Carter told 7.30.

"He said he wanted to buy the land and he wouldn't tell us who for, but after a while we found out it was the Bendigo Council.

"So we've been fighting them ever since that."

The battle has taken its toll on the family.

"It's been fairly stressful at times," he said.

"We just kept saying, 'No, no, no', believing that they'd go away and buy some land somewhere else because there's plenty of land about."

But recently, the City of Greater Bendigo voted to compulsorily acquire 313 hectares of the Carters' land to create a business park.

Police and private security had to attend the meeting where dozens of Carter family supporters came to protest.

As councillors filed in, some protesters yelled "shame" but ultimately six councillors voted in favour of the acquisition and only two opposed it.

Battle between family history and a region's future

The Carter family has farmed the land for around 100 years ( ABC News: Lauren Day )

Mayor Margaret O'Rourke has inherited a battle that's besieged almost a dozen mayors before her.

She believes the Business Park will create 3,500 much-needed jobs for the region.

"We need to be able to accommodate businesses that are currently here and new businesses that want to locate here," she told 7.30.

"And that's been certainly strong feedback, particularly from our manufacturers, that they are now at a stage where they need to expand and they can't expand."

Bendigo Mayor Margaret O'Rourke says the Marong Business Park would generate around 3,500 jobs for the region. ( ABC News: Lauren Day )

Mark Brennan from the Bendigo Manufacturing Group said he empathised with the Carters but didn't want to see opportunities passing the area by.

"It's not about big business coming in and taking over, it's about lots of smaller businesses prospering in this community," he said.

"The Carters are part of the community and it's just quid pro quo."

Mr Brennan said while no businesses had publicly expressed an interest in moving to the proposed business park yet, he expected there to be a strong uptake if the acquisition was approved.

"How can we sign companies up when there's nothing to sign up to?"

"My view has always been, 'build it and they will come'."

'It's not about the money'

Tamrie Carter will have to find somewhere else to live if the compulsory acquisition is approved. ( ABC News: Lauren Day )

The parcel of land in question contains a shearing shed, yards, silos and an 1850s former pub.

Tamrie Carter lives in the converted Yorkshire Hotel and she's devastated about the prospect of having to move.

"This is home. It's where my dad grew up, where my grandparents have lived and now where I live," she told 7.30.

"We've been here for nearly 100 years, throughout the generations, and it would be heartbreaking if we were to lose it."

She was just 10 years old when the battle started but now she's been forced to step up to defend her home.

The Carters' plight has drawn comparisons with The Castle, which centres on the fictional Kerrigan family's fight to save their home from compulsory acquisition.

Tamrie Carter said she could understand why.

"It's kind of good to have that comparison because people can understand the heartache and the toll it takes on the family and actually understand what compulsory acquisition is," she said.

"I'd just like to be able to just fast forward to the end and know if it's a happy ending."

The Carter family farm crops and sheep on the property. ( ABC News: Lauren Day )

The decision is now with Victoria's Planning Minister for final approval.

He declined 7.30's request for an interview but in a statement said: "All of Bendigo wants the right decision on this project — and we won't rush it.

"It's vital we take the views of both council and the local community into account to get the best outcome."

Earlier this year, the Carter family was offered compensation but Max, like Darryl Kerrigan, says you can't buy what they've got.

"It's not about the money," he said.

"If it was about the money, we would have taken it years ago.

"It's just the fact that we like being here, like living here and you can't buy that."