First Home to Smash $1 Million Undergoing Multimillion Renovation |
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Written by Marc Pallisco
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Tuesday, 15 April 2008 |
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The first home in Melbourne to smash the “$1 million” mark when it sold at auction in 1981, is undergoing a multi-million renovation, in what is surely a sign of the Toorak times.
Number 20 St Georges Road made television news 27 years ago, when former Melbourne Lord Mayor Sir Morris Nathan sold it to property developer and luxury car dealer James O'Connor for $1.01 million.
Last year, it sold to a private business identity for $6.01 million, in what was one of the biggest attended auctions in Toorak that year. Local sources say the new owners are relocating a swimming pool from the back yard to the front yard, adding a basement level with garage and extending the living areas.
Kay & BUrton selling agent Nicole Gleeson declined to speculate on what was happening behind the home's fence at present, but said it is unlikely the home will ever be a record holder again, as the estate was subdivided about 25 years ago.
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