Myer family pay record $18.4m for Sorrento’s Sisters estate
Melbourne’s Myer family has paid $18.4 million for Sorrento’s historic “Sisters” estate.
The price eclipses the record paid for a Victorian home – $18 million by art dealer Rod Menzies for the historic Stonington mansion in Glenferrie Road, Malvern, last year.
It is reported the wealthy Shelmerdine family picked up the Mornington Peninsula property at auction for far less than the $20 million price promoted throughout the campaign. The reserve was $19 million however because the asset is part of an estate, it is speculated the banks accept lower bids.
The 1.2 hectare property with direct access to Sullivans Bay is expected to be developed as an individual home, or a family compound.
The ‘Sisters’ precinct was settled by Lieutenant Governor David Collins in 1803 who bought a crew of 458 convicts, soldiers and free settlers to the precinct. It is believed to be the site of Victoria’s first European settlement.
Since 1890 the land has been owned privately. The most recent owner was eccentric millionaire Peter Rand. The property was to be sold after his death in 1997 however a legal challenge by a Toorak couple over ownership dragged the matter in the courts for more than ten years.
Before the sale, the highest price paid for a beach house was set in 2006, with retirement village operator Charles Jacobsen paid $14.5 million for the former estate of Sir Reginald Ansett in Mt Eliza. That property is expected to be redeveloped into three homes for Jacobsen and his family.
