The homestead Mill Bank House which still stands in Millbank Road, was probably erected at this time, and a village named Terara soon began to develop.Development of this village was furthered by Prosper's widow and their three sons, Prosper John, Andre and Etienne, after Prosper's death in 1844. They added three wharves in 1854, in 1856 a Church of England on land Prosper’s widow Mary Ann donated and with capital she largely provided, and established a steam-driven flour mill in 1856. By 1866 Terara was a bigger and more important centre than Nowra. When the Shoalhaven River flooded in 1870 settlement began to shift from Terara to the Nowra site 3 km west. Australian heritage – Nowra He eventually owned several houses in Sydney, including his main house, at Petersham, and many farm allotments. To consolidate some of his business investments, on 31 May 1837, at "the Premises lately occupied by Prosper De Mestre" in George Street he sold at auction a number of properties, being: at Brisbane Water; in the parish of Holdsworth; building allotments in Kent St, Sydney; four farms at Lane Cove; at Camden; and at Ellulang. He no longer needed to live in the George Street property as he had moved his residence to the corner of Liverpool and Elizabeth Streets, Sydney as he had purchased an "excellent mansion" overlooking and situated at the south end of Hyde Park. Finally he also received another land grant of called Yerrigong on the Calymea Creek about six miles (10 km) west of Terara granted by Governor George Gipps on 17 February 1841.
