$18.5 Million For Albany Road Mansion, Toorak

JAYCO Caravans managing director Gerry Ryan is reported to have paid $18.5 million for a Toorak mansion with no tennis court, swimming pool, double garage or basement.

The Albany Road sale, which would have set a record price in Melbourne had it occurred a month ago, was concluded before a scheduled major campaign. The home was offloaded by Future Fund board member Jeffrey Browne and his wife Debbie, who are understood to be relocating to the St Kilda Road's Melburnian building.
The home is described as a stunning Victorian-era residence that has been renovated three times in the last 22 years. But the block size, at 2,415 square metres - does not make Mr Ryan's new homes one of Toorak's most sizeable estates.

However Albany Road is considered Melbourne's best street, with homes rarely coming onto the market.

The Albany Road sale follows a reported $20 million sale of Meigunyah last week. Meigunyah, on Orrong Road, sits on an 8,800 square metre block.

Meigunyah held the record price for only a few days, before a speculated $21 million sale, of Clinton Casey's outgoing Avon Court mansion in Hawthorn was announced on November 25.

Melbourne's most valuable homes include Coonac in Clendon Road, Bedford and Whernside mansions, both in Albany Road and on huge blocks - with tennis courts and pools.

Related article: Melbourne's Most Expensive Streets

http://www.realestatesource.com.au/melbournes-most-expensive-streets.html