Five:Am founder lists $50m Melbourne mansion
Five:Am creator David Prior and his wife Sallie have listed their family home in the street often touted as Melbourne’s best.
The pair can expect between $46-$50 million for the c1914 Karum at 14 St Georges Road, Toorak.
Any result in that range would reflect a significant capital gain on the $23.3m they paid chef Chris Lucas in 2014; Mr Prior had not long earlier sold the yoghurt business to the UK’s PZ Cussons, banking a speculated $80m.
Karum has since undergone a major renovation.
Melbourne’s best street
Along with Albany Rd, St Georges is often rated by agents as Melbourne’s best row.
Residents include developer Harry Stamoulis, who developed a grand mansion on the former Baillieu estate at #39, and Message Media founder, Grant Rule, who last December paid $74.5m for Blair House at #17.
Stake.com founder Ed Craven also last year outlaid $88m including GST for a 7246 sqm block on the row, at #27-29.
Another vacant holding at #16 – next door to Karum – is held by Xiaoyan ‘Kylie’ Bao who demolished the former Egyptian Revival home there, Idylwilde, in 2015.
Neighbouring that – #18 – is another empty block ex-Mirvac director Marina Darling sold to an offshore buyer for c$40m in 2017 (story continues below).
Kay & Burton’s Ross Savas, Jamie Mi and Nick Kenyon are representing the Priors who relocated to their 200 year old Bladnoch Distillery in Scotland.
Karum
Designed by AJ Ainslie, the Mediterranean Georgian Revival style Karum contains five bedrooms, five bathrooms, formal and informal living rooms.
The 2955 square metre site includes a pool, spa and championship sized tennis court.
“[With] design features such as bevelled glass windows, decorative columns and an arched portico that’s reminiscent of the great palazzos overlooking the Mediterranean Sea…Karum will be the property that captivates the market this spring” Mr Savas said.
“There is no other residential listing on the market in Victoria at that price and the ultra-prime market has never been stronger,” he added.
“A home of this grandeur coming to market is extraordinary in itself but during the current low-turnover landscape, it is even more of a rarity,” according to the executive.
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