CallLocation

Compare Listings

Toorak mansion sale sets Australian auction record

Toorak mansion sale sets Australian auction record

A Toorak mansion renovated by international designers has become the most expensive home sold at auction in Australia, after it was snared on the weekend for more than $40 million.

The sale price for 47 Lansell Road, which is understood to be at the upper end of its advertised $40 million to $44 million guide, has set the suburb’s price record and is the second most expensive property transaction ever in Victoria.

In a salubrious suburb where listings in the tens of millions are not uncommon, this deal is extraordinary for more than its eye-popping sum – the glamour pile is tipped to have sold under the hammer.

Marshall White director Marcus Chiminello, who handled the listing, declined to comment on any aspect of the sale.

The property’s ad online has been stamped with “under offer”.

47 Lansell  Road, Toorak VIC 3142

It is unusual for properties in the stratosphere of the market to be sold by auction. Discreet haggling and expressions of interest are the more customary methods.

This auction is believed to have been a private affair – as opposed to a public auction, on the street – between very deep pockets.

Public title documents name the vendor as Kelly Healey, the wife of businessman Mark Healey, who is the son of British shopping centre billionaire Eddie Healey.

The five-bedroom, four-bathroom, six-car home came onto the market in late July, the day before lockdown, with a price guide of $40 million to $44 million – the most expensive listing of the year in Melbourne.

Industry sources say it sold towards the top end of that bracket.

At that level, it sets a Toorak house price record, breaking the $38.8 million benchmark inked in 2018.

The only home in Victoria more expensive is Stonington mansion in Malvern, which changed owners in 2017 for $52.5 million.

undefined
Stonington mansion, on Glenferrie Road in Malvern, holds the Victorian record house price. Photo: undefined

The most previously paid at auction in Australia was $24.6 million for a harbour-view house in Sydney’s Vaucluse. That address rocketed $10 million over reserve, in September last year, hurdling the prior record of $23 million for Sydney mansion Le Manoir, in Bellevue Hill, purchased in 2009 by Lachlan and Sarah Murdoch.

Talk at the top end of town is that Chiminello adopted a similar strategy as he did for the old Toorak record – he also auctioned the $38.8 million property bought by tech goliath Ruslan Kogan.

The Lansell Road address last sold off-market for about $20 million in 2015.  The makeover that followed, estimated to have cost about $15 million, was led by London’s Helen Green Design Studio, award-winning Carr Design architecture firm and leading landscaper Paul Bangay.

Helen Green Design Studio’s projects include properties in London, Barbados and St Petersburg. Architects from Carr also designed the luxury Jackalope hotel on the Mornington Peninsula. Bangay is the green thumb with the golden touch, engaged to shape the gardens of substantial private estates around the country.

47 Lansell Road, Toorak
The mansion at 47 Lansell Road, Toorak, is understood to have traded owners at a discreet auction. Photo: Image Factory

The Lansell Road property occupies 3330 square metres on the crest of the hill near the Yarra River end of Lansell Road, home to celebrities and influential figures in the colosseums of business and entertainment.

Sale prices are often not disclosed in the prestige market, but on Lansell Road, Pricefinder records show that Shannon Bennett, star chef, and his former partner, actor Madeleine West, sold their home for $24 million in February this year.

In the past six years, five properties on Lansell Road have traded for sums between $10.435 million and $24 million. However, the prices of others will never be known, such is the nature of discretion in the luxury property sector.

Marshall White managed the Lansell Road listing in conjunction with Kay & Burton.

 

Originally published as: Toorak mansion sale sets Australian auction recordBeauty therapist reveals key decision that got her 20 properties worth $20m

img

Only Capital

Related posts

Victorian building boom hits new record for starts in financial year

Victoria’s building boom has soared to unprecedented levels with new figures revealing...

Continue reading
by Only Capital

Beauty therapist reveals key decision that got her 20 properties worth $20m

A former beauty therapist who pockets nearly $700,000 a year in net rental income from her $20...

Continue reading
by Only Capital

Melbourne’s most popular suburbs for house flippers: Ray White

Sydenham, Montmorency and Carrum are Melbourne’s most popular suburbs for house flippers, new...

Continue reading
by Only Capital