A Toorak mansion constructed on the location of Melbourne’s first million-dollar home has bought for a lofty $23m.
The five-bedroom property at 20 St Georges Rd was listed in March with $24m-$25m value hopes by Marshall White Stonnington director Marcus Chiminello.
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Mr Chiminello declined to touch upon the sale value, nonetheless trade sources revealed it bought for $23m to a Chinese language household.
The sale was a notable $4m greater than the mansion’s final sale of $19m in 2021, per PropTrack knowledge.
It was then owned by late Melbourne businessman and wealthy lister Spiros Stamoulis’ spouse, Helen Stamoulis, who spent eight months throughout the pandemic attempting to dump the 1457sq m property.
Mr Chiminello mentioned the distributors have been a neighborhood household seeking to improve, whereas the client first inspected the property 12 years in the past when it hit the market in 2011.
“When the renovations have been first achieved they appeared to purchase it however missed out,” he mentioned.
“Now 12 years later they lastly obtained it.”
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The 20 St Georges Rd block was additionally famously bought in 1981 by former Lord Mayor of Melbourne Sir Maurice Nathan to a luxurious automobile supplier — who paid $1.01m for the property — making it the primary Melbourne home to promote for greater than $1m. That home was later demolished and the land was subdivided in 1983, earlier than two new homes – together with the one simply bought – have been constructed, each with tennis courts.
Ms Stamoulis bought the house after her husband died in 2007 for $6.01m, and accomplished important upgrades that included the addition of a four-car basement storage and further front room.
The lavish property additionally options landscaped gardens by famend architect Jack Merlo, plus a swimming pool and inner raise.
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