An East Melbourne condominium that belonged to late movie promoting boss Val Morgan has bought for $5m.
The three-bedroom condominium at 5/58 Clarendon St was available on the market with a $5.25m value information by means of Christie’s Status Houses agent Sean Cussell.
Native downsizers snapped up the 275sq m pad, which occupies a complete ground of the enviably-situated inner-city residential block.
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Flooring-to-ceiling home windows soak in views of the encompassing suburbs and the close by Fitzroy Gardens, and Mr Cussell earlier informed the Herald Solar Morgan and his spouse, Inge, had cherished the condominium’s location close to theatres and the CBD’s night-life a lot that they purchased it again in 2006 after initially promoting it in 1997.
Morgan’s kids listed the residence in February.
Mr Cussell stated penthouses had been in sizzling demand amongst patrons with deep pockets and the property’s sprawling floorplan was a giant drawcard.
“(It) displays about $20,000 per sq. metre for an unrenovated condominium … that’s often what you’d get for a model new condominium,” Mr Cussell stated.
The patrons intend so as to add additional worth to the property by means of renovations.
Options embody open-plan residing and eating areas, a built-in bar, a proper lounge and two automobile areas.
It additionally has a house workplace, two bogs and a balcony with panoramic views of the town skyline.
Morgan took over the operating of the household’s promoting enterprise from his father, William Morgan, who inherited it from his father, the primary Val Morgan, who launched the corporate in 1914.
The corporate was one of many largest movie promoting companies within the nation by the point of Val Morgan junior’s demise in 2018.
The household bought their curiosity within the firm within the mid Eighties, but it surely continues to function at this time as a part of Hoyts.
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