Diana Baillieu’s $16 Million Toorak Home Sale Still Unsettled

The Baillieus put the sprawling property on the market in October, six months after the death of matriarch Diana Baillieu, who called 39-41 St Georges Road home for 70 years.

RT Edgar selling agent Warwick Anderson confirmed the reported buyer of the property – registered with the company name Sagal Jackson – had extended the original settlement terms by three months, to March.

Sagal Jackson also withdrew a caveat it lodged on the title of the St Georges Road property last November. A caveat is a formal notice requesting that a court not take a certain action without warning the person lodging the caveat.

Lodging a caveat is a common practice during settlement and ensures a home is not sold from under the new buyer.

The approximate $16 million sale was the biggest in metropolitan Melbourne last year and the second most expensive in Victoria after Sorrento’s The Sisters estate sold for a speculated $19million in April to interests associated with the Myer family.

Mr Anderson dismissed speculation the St Georges Road deal had fallen over, saying names can appear and disappear on caveats throughout the settlement process.

He declined to comment on why the settlement date was extended in the first place.

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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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