The main building in the college, Braemar House, dates from the late nineteenth century and is believed to be the largest plywood structure in the Southern Hemisphere. Braemar House is a substantial two-storey timber mansion on brick and stone foundations with high pitched roofs, intricate gables and asymmetric features, which was constructed in 1889-90 to a design by Italian-born architect Louis Boldini. The school's architectural style is classified as Victorian PeriodFree Classical. Braemar House was built as a guest house for affluent Melbourne residents by a consortium of Melbourne businessmen. The location of Braemar House in the Mount Macedon area which was noted for its bracing mountain air made it attractive to those who believed that city life was not conducive to good health and that regular vacations in a healthy environment would restore well being. Access to rail transport and proximity to recreational activities such as walking and climbing in picturesque locations such as nearby Hanging Rock made Woodend a suitable place for such a venture. Braemar House operated as a guest house from about 1890 until at least 1908, and possibly until 1918 when it was reported sold and that "it is intended to convert the house into a school for young ladies". Braemar House was listed on the Heritage Register of Victoria in 2003.
In 1975 the present name Braemar College was adopted as a new school was started to include years 7 to 12 for both male and female students. Its original principal was Graham Farley. Braemar College sits surrounded by the ferny undergrowth, Snow Gums, Alpine Ash and Mountain Ash bushland of the . On 16 February 1983, the school escaped relatively unharmed as the infamous Ash Wednesday fires raged around it. The statewide Ash Wednesday Bushfires raged across Victoria - scorching 295 km² of bushland, taking 7 lives and destroying 628 buildings in the Macedon Ranges area alone. Despite the valiant efforts of local firefighters and volunteers, the school did lose its historic stables and grandstand - now the site of a gymnasium and theatre building. The fire that burnt the stables took place on 1 February 1983, a fortnight before the Ash Wednesday fires. The college again expanded in 1995 with the construction of a primary school building along with full provisions for grade 5 and 6 students. In 2017, work on the Braemar College Woodend Campus began. The College has timelines in place that will see the Middle School being located at the second campus for the commencement of term 2 of 2018, but because of delays, the Middle School is now been transferred to the second campus at the beginning of the 3rd term. Braemar College participates in many activities with other schools in the region such as cross country, athletics, swimming, chess, debating and orienteering.