Alfasi Group CEO offloads $34m Melbourne mansion
Alfasi Group chief executive officer Avri Alfasi and his wife, Michal, have sold their contemporary mansion in Toorak’s tree-lined Whernside Avenue for $34 million.
The buyer is believed to be Jin Du, chief executive of UK registered leather clothing business Yunhan Limited, who it is speculated will relocate from Balwyn North.
RT Edgar’s Antoinette Nido and Jeremy Fox, who brokered the off-market deal, declined to comment.
The Alfasis paid Chandler Constructions $2.65m for the dwelling on 2125 sqm in March, 1998.
Over five years ago, they undertook a major extension including adding a second level.
The pocket is considered Toorak and Melbourne’s most exclusive, opposite the historic Whernside mansion occupied by Rosie Lew, the ex-wife of retail billionaire, Solomon, and almost diagonally adjacent to Bedford, developed by shopping centre owner John Gandel in the 1980s on an amalgamation of five blocks.
Also in the area is the family home of late lord mayor and Crown Casino co-founder Ron Walker and his wife, Barbara – 55-57 Albany Road, on 3291 sqm – which will hit the market this month with a c$55m-$60m guide via Kay & Burton’s Gerald Delany and Gowan Stubbings.
Established as a steel fabrication company in the 1990s, Alfasi has become a major developer with a development pipeline in Sydney and Melbourne.
Last August, the group picked up part of the historic Bryant & May factory, at 560 Church St, Cremorne, with plans for a hospitality-based mixed use project (story continues below).
The firm also constructed a Hyatt Centric on a River St, South Yarra, site, for years owned by caterer Peter Rowland.
Another Toorak deal
The Alfasi disposal of 1 Whernside Ave comes six months since publisher Wen Chen outlaid $28m for Little Milton, covering 2489 sqm next door, on the north east corner of Albany Road.
Opposite that residence, the family of late businessman David Hains is selling a Georgian on 3611 sqm with a pool, tennis court and $45m-plus price hopes.
In nearby Linlithgow Rd, meanwhile, ex-Australian cricket captain Ricky Ponting and his wife, Rianna, outlaid c$20.75m for #26A while Cotton On CEO Paul Johnson and his wife, Kim, paid gardener Jack Merlo $12.5m for #9.
Outside of the pocket but still in Toorak, BlueCross earlier this month sold the historic Darnlee mansion, on Lansell Rd, for a speculated $20m.
On 3580 sqm, and marketed to other aged care providers, it traded to a private buyer who plans to convert it to a residence for the first time since 1949.
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