V8 Supercar team owner Rod Nash sells trophy Mornington Peninsula estate for $8.4m

V8 Supercar team owner and former driver, businessman, Rod Nash, and his wife Lisa, have sold the historic Dromana estate, Delamere Farm (pictured), for $8.4 million.

The result shows that a circa-$1.6 million discount was applied to the guide price attached to the 42-hectare property when it hit the market 20 months ago.

But it also represents an impressive medium-term capital gain for the Nashes, who paid $5.1 million for Delamere Farm in 2010 from prominent Frankston car dealer Gary Lechte who had held it for almost 20 years.

Many belongings the Nashes kept at the house – including Australian art, antique furniture (including a 1900s Allcock & Co blackwood billiard table), sculptures, Persian rugs and jewellery – were auctioned at an event a few months ago.

The pair – who moved to Dromana from another Mornington Peninsula hamlet, Flinders, plan to relocate to another home they have bought in the area.

Delamere Farm includes a 1934 mansion with six bedrooms, a tennis court, walking track, ornamental lake and several established garden spaces, including one containing a 130-year old English Oak.

Outbuildings include two self-contained guest accommodation units – each with two-bedrooms, numerous sheds and garages (including a 2000 square metre one, recently built, capable of storing eight cars).

It was marketed by agencies Pat Rice & Hawkins Peter Hawkins and Warlimont and Nutt’s Alex Corradi.

Nash and another racing veteran, Rusty French, paid a speculated $8 million in 2013 for the Ford Performance Vehicles supercar team (and an offshoot, Tickford).

Between 2009 and 2014 French was trying to sell a clifftop Mt Eliza property, Springfield, for more than $7 million. French famously enclosed Springfield’s tennis court to create a 15-car showroom and four-car garage.

 

Marc Pallisco

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

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