First Home to Smash $1 Million Undergoing Multimillion Renovation

The first home in Melbourne to smash the $1 million mark when it sold at auction in 1981, is undergoing a multi-million renovation.

Twenty St Georges Road made headlines when former Melbourne Lord Mayor Sir Morris Nathan sold it to property developer and luxury car dealer James O’Connor for $1.01m.

Last year, it traded again to a private business identity for $6.01m – it what was one of Toorak’s biggest attended auctions, the agents said.

It is understood the incoming owners will relocate a garage as part of a renovation.

Kay & Burton selling agent Nicole Gleeson declined to speculate.

The home is unlikely to ever be a record holder again, as the estate was subdivided about 25 years ago, after which it made it made way for two homes and tennis courts.

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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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