A historic Toorak property dubbed “Melbourne’s most significant estate” has been listed for a mega $65m-$70m that would shatter Victoria’s residential record.
The circa-1939 Georgian Revival mansion at 17 St Georges Rd was designed by Melbourne architects Hughes and Orme and has not been sold since the 1970s.
The property is being sold by the family of late engineer Radovan Basil Nanut, who died in 2004 and left the estate to his wife, Marguerite, and three children James, Pia and Elizabeth.
The stately mansion has been at the centre of a bitter family feud, with James launching legal action against his two sisters and mother last year.
The property was valued at about $20m when Mr Nanut’s will was written in 2005.
But court documents seen by the Herald Sun reveal James estimated it to be worth between $60m-$70m.
Title documents confirmed the siblings and Mr Nanut’s wife as the “legal personal representative(s)” of the estate.
The incredible 7854sq m property features a tennis court, Victorian glasshouse, and separate guesthouse among its botanic gardens that are within the grounds of Toorak House, Melbourne’s former Government House, discreetly set well back from the street behind high walls and a sweeping drive.
Buyer’s advocate to the city’s top end David Morrell said it was “one of Melbourne’s top 10 homes”, but would require a “$15m reno”.
Marshall White sold the property last time and will again this time around, with Marshall White Stonnington director Marcus Chiminello handling the listing.
St Georges Rd is widely regarded as Melbourne’s premier street, with its grand mansions and prestige address sought by the city’s wealthiest and regularly attracting eye-watering sums.
The estate of late businessman John McMurrick at 51 St Georges Rd sold for more than $19m last month.
Victoria’s highest reported residential sale is that of Malvern’s historic Stonington Mansion, which fetched $52.5m in 2018.
Toorak’s reported residential record was set last year by the sale of 47 Lansell Rd for $43.1m.
That property was snapped up by Chemist Warehouse boss Sam Gance, who is the partner of Real Housewives of Melbourne star Janet Roach.
It was sold by international businessman Mark Healey — the son of British billionaire Eddie Healey — and his wife Kelly.
An expressions of interest private sale campaign for 17 St Georges Rd will close August 8.
— with Alanah Frost
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