Trophy clifftop estate, Pelican, sells for speculated $12m+

After eight months on the market and a $1 million-plus discount, Mt Eliza’s spectacularly located Pelican estate has sold for a price understood to be just over $12 million.

The deal is believed to be the suburb’s largest private residential sale since 2006 when retirement village developer Charles “Chas” Jacobsen paid $14.5 million for the late Sir Reg Ansett’s 28.8 acre Gunyong Valley, also on the waterfront.

Behind imposing red brick walls at 4 Denistoun Avenue, Pelican spreads 1.5 acres at the tip of Pelican Point.

Listed for private sale earlier this year with a different agency, a stately c1992 Federation-era mansion with an internal area measuring approximately 1400 square metres includes five bedrooms, a billiards room with a wet bar and lounge and a home office with built in cabinetry.

A driveway wraps around the double-storey brick home providing access to a visitors parking lot, two double garages, a workshop and a poolroom/showroom with a cocktail bar and bathroom.

Capturing 270-degree unobstructed water views, the clifftop holding also includes a flood-lit tennis court, inground trampoline, alfresco bar and kitchen (with its own dishwasher), heated infinity pool and spa.

McEwing & Partners Dean Phillips and Quentin McEwing sold Pelican which the previous marketing agency first listed in

Aerial view of Sorrento’s Nee Morna

January and relaunched a campaign for, in April. Following the relaunch, it was revealed the asking price was $13.5 million.

Pelican’s is the latest big deal to be signed in and around the Mornington Peninsula recently.

In April, it was reported property developer Andrew Buxton was paying more than $18 million for Sorrento’s 4.2-acre Nee Morna, which hit the market at about the same time as Pelican.

A showroom at Pelican

Offered by stockbroker Andrew Lipe following a renovation, the Point Nepean Road holding on a Western Sister headland has only been offered for sale twice since being created more than a century ago. It was once owned by entertainment entrepreneur George Coppin.

With a grand 1909 Federation mansion containing five living areas, Nee Morna was marketed by CBRE’s Mark Wizel, Bianca Butterworth, Lewis Tong and Carl Hexter.

This agency also sold the Morning Star Estate for $36.2 million in June to China based investor Zhongou Capital

Queenscliff’s Lathamstowe

Corporation. Covering 155.7 acres on the Mt Eliza waterfront, the vineyard and accommodation venue included a c1867 Victorian mansion and a permit for a 72-room hotel.

Last year, New Zealand based retirement village operator Ryman Healthcare paid the University of Melbourne $37.5 million for a 22 acre waterfront site the college occupies as Melbourne Business School. This property, Moondah, was also once owned by Reg Ansett. It exchanged following another CBRE campaign.

Provenance in Portsea

Reg Ansett’s long-time estate, Gunyong Valley, is considered to hold the record as Mt Eliza’s largest private residential transaction to date.

It sold following a high profile campaign to Mr Jacobsen who has restored outbuildings and built a new dwelling on the property, which abuts the clothes-optional Sunnyside North Beach.

Further south, Liberal party powerbroker Andrew Abercrombie recently sold his non-waterfront Portsea home, Provenance, for a speculated $5 million, following a campaign by Kay & Burton’s

Pelican

Liz Jensen and Lorna Duffy. In June it was confirmed Andrew’s son, James, was dating US actress Mischa Barton.

Also in Portsea, 8 Weeroona Avenue sold for a speculated $10 million. Developed on land once owned by former Prime Minister Harold Holt, this home was marketed by Sotheby’s Rob Curtain and Patrick Sinn.

The waterfront mansion, Wandoo, at 3834 Point Nepean Road, also recently sold for $8.2 million following a campaign by RT Edgar’s Ilze Moran and Warwick Anderson.

Across the heads, in Queenscliff, the majestic Lathamstowe mansion sold for a speculated price of more than $5 million in May following a campaign managed by Fletchers James Gladman and Kay & Burton’s Rollo Moore. Lathamstowe was built in 1883 by former Carlton and United Brewery owner Edward Latham as a gift to the Anglican Church for its clergy.

Ahead of moving to Nee Morna, Andrew Buxton also sold his redundant non-waterfront Portsea pile for a speculated price of more than $6 million. This off-market campaign was reportedly managed a few weeks ago by Sotheby’s Rob Curtain.

For seven years – until last month – clifftop Portsea estate, Ilyuka, held the title as Victoria’s highest price sale, after it dealt for $26 million to BRW Rich Lister John Higgins. The accolade for the state’s highest sale is now a St Georges Road, Toorak, mansion which is exchanging hands for $40 million.

Click here for our story about 11 Melbourne homes which set price records for their suburbs when they sold recently.

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au

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