Frank Walker banks $23.5m from Melbourne mansion

Julian and Olivia Babarczy will relocate from Sydney after buying 50 Clendon Road.

National Tiles founder Frank Walker and his wife, Rhonda, have sold their Toorak home to downsize.

The Clendon Road block includes a tennis court and pool.

The couple banked $23.5 million for the 1350 square metre pile at 50 Clendon Road, considered one of the suburb’s triple AAA rows, at the north east corner of Grant Street.

With oversized living and dining rooms – a hallmark of the designer, Nicholas Day – four bedrooms and a study, the deal reflects a major windfall for the pair which paid $6.5m 10 years ago.

A significant amount was recently tipped into a full refurbishment – undertaken just prior to listing by the pair’s daughter, designer, Amy Spargo, owner of Main House Interiors.

Developed in 1990, the dwelling is surrounded by established gardens a pool and tennis court.

The buyer is Jigsaw Investments executive and hedge fund manager Julian Babarczy and his wife, another interior designer, Olivia, who will relocate from Sydney, having just sold a Vaucluse home for over $25m (story continues below).

Frank and Rhonda Walker’s interior designer daughter, Amy Spargo, renovated 50 Clendon Road.

Forbes’ Michael Gibson represented the Walkers.

The deal comes nearly two years since Kogan founder Ruslan Kogan paid $20m for a home in the area, for his parents.

Three blocks away on Albany Rd, meanwhile – considered Melbourne’s best street – Barbara Walker, the wife of late lord mayor Ron, and no relation to Frank, in June sold her estate, Huntingfield, for a speculated price over $50m.

Like 50 Clendon Rd, that property includes a 1990s dwelling.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of