Avon Court sets record

Former Richmond Football Club president Clinton Casey has sold Avon Court, in Hawthorn, for more than $21 million – a Melbourne price record.

In Shakespeare Grove, the property includes a private cinema, gym, ballroom, wine cellar, two pools and seven kitchens.

The disposal comes in the same month Toorak mansion Meiegunyah traded for a speculated $20m – breaking the record until then held by Stonington, in Malvern ($18m).

Mr Casey is reported to have paid $5.7m for Avon Court in 2003.

A renovation added $9m, sources have said.

There is still some doubt about the recent price – speculated at $21-$25m;  vendors can sometimes negotiate in art or furniture packages, which add substantially to the deal end value.

Eyes turn now to the Toorak home of Graham Smorgon, which hit the market with a c$16m guide, like Avon Court.

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Marc Pallisco

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

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