Property developers Anthony and Marina Darling have sold their 1920s Toorak mansion Mowbray for $40 million – setting a new price record for Victoria.
The off-market deal for 18 St Georges Road, said to be to an Asia-based buyer, was speculated last month but without a street number.
It has now been confirmed the vendors are the Darlings, who paid $4.9 million for the then-renovated estate in 1995.
The home – said to be on a block of more than 4000 square metres – was not publicly for sale but agents say it has been touted off-market for about three years. The selling agency to find a new buyer for Mowbray was RT Edgar. Its agents have repeatedly declined to comment about a deal.
According to a Stonnington council report, Mowbray was designed by noted architect and owner Christopher Cowper – and still occupies the same footprint as shown on its original plan form. The original fence, which council describes as “very significant” has been retained – it is red brick with large rendered cappings, original lamp gates and mosaic tile signage.
Below is a paste of (and here is a link to) an article about the deal from last month:
Off market Toorak deal worth $40m sets a Victorian state record
The record price for a residential property in Victoria has been smashed by almost $14 million following an off-market “done deal”.
The St Georges Road, Toorak, property is exchanging hands for $40 million, it can be reported, following a confirmation by the agency which sold it.
The result comfortably exceeds the $26.25 million record set in December, when, after reportedly separating, retail entrepreneurs Daniel and Danielle Besen sold their new Towers Road, Toorak, home to Netflow managing director Phil Dreaver.
That Besen sale broke the state’s previous price watermark of $26 million, established in 2010 when Computershare co-founder Michele O’Halloran sold Portsea’s Ilyuka to BRW Rich List member John Higgins.
Last year, a contemporary Toorak mansion in Robertson Street, with an internal area of nearly 1600 square metres, was sold by members of the Smorgon family for $24.1 million, temporarily setting a metropolitan Melbourne (but not Victorian) price record.
RT Edgar is behind the latest $40 million off-market negotiation.
The exclusive and tree-lined street between the Yarra River and Toorak Road is considered, with nearby Albany Road, to be Melbourne’s most exclusive.
Last year, developer Harry Stamoulis moved into an enormous mansion he built on the 39 St Georges Road, Toorak, site, he bought for $24 million in 2010. Given the luxury appointments said to be in the Stamoulis home, agents have speculated it to be worth well in excess of $70 million.
In 2015 the street made headlines when the distinctive c1913 Idylwilde at number 16 was demolished after being acquired by Xiaoyan “Kylie” Bao for $18.5 million in 2013.
UK-based actor Daniel Radcliffe also retains a luxury apartment in the street (the Harry Potter star unsuccessfully tried to sell 98B for about $2.5 million in early 2015).
Asian property tycoon David Yu paid $5 million in 1991 for a French Renaissance style mansion on one of the street’s biggest holdings, 29 St Georges Road, which he subsequently, famously, left vacant.
In 2007, Liberal party powerbroker and FlexiRent founder Andrew Abercrombie paid US executive Bob Edgell and his wife, Fena, a part of the Indonesian royal family, $14 million for a then near-new St Georges Road home.
In 2013 Mr Abercrombie added to his street portfolio, buying the historic 6023 square metre holding, Edzell House, from Michael Spivakovsky, who inherited it from his father, acclaimed pianist Jascha, who reportedly entertained Dame Nellie Melba there.
In business documents, Mr Abercrombie was also connected to another recently sold St Georges Road house which, like Edzell House, has direct Yarra River frontage.