$14 Million For Hawthorn & Richmond Flats of PTE Rand

The highest price was in Power Street Hawthorn, where a block of 42 apartments sold to a private investor for $11 million. In Rotherwood Street Richmond, a block of 12 apartments sold for just over $3 million. TBM Toorak managing director Rodney Morley negotiated the sales.

The flats were part of a $50 million property asset portfolio left by the eccentric millionaire to male companion Michael Aquilina, following his death in 1997.

The portfolio also included the 3-acre Sisters estate in Sorrento, which sold to the wealthy Shelmerdine family last month (note to editor: April 2008) for $19 million.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.