Unrenovated Apartment in Billionaires Row Sells For $1.4 Million

Billionaires Solomon Lew, John Gandel and David Hains will be joined by a new neighbour in July after an apartment in the tightly held Santosa building – wedged between their respective Toorak mansions – sold last weekend for $1.41 million.

The unrenovated apartment was part of the estate of Jean Parker, the wife of Michael Parker, who was the former secretary to Prince Phillip.

Jean, who died earlier this year, and Michael who died several years ago, built the Santosa complex in the 1960s, on the site of the Albany Road home given them by Jean’s family as a wedding present.

Santosa is next door to shopping centre owner John Gandel’s Bedford mansion, which is speculated to be Victoria’s most expensive home, worth about $40 million.

On the other side of the fence is David Hains’ relatively more affordable $25 million home – while across the road is Solomon Lew’s Whernside mansion – which is speculated to be worth about $30 million today.

With values like that either which way, it’s not surprising a “renovators delight” 2-bedroom ground floor flat could sell for almost $1.5 million.

Kay & Burton director Andrew Baines said the sold to an investor for $200,000 over its reserve.

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