Hains family offload 10-bedroom Toorak mansion

The Albany Road home when it was listed last February.

The Hains family has sold a high profile Toorak mansion after 13 months, a renovation and discount.

The 10 bedroom c1941 Georgian Revival at 35-39 Albany Road is believed to have collected $38 million.

The Hains family reoffered the Toorak mansion after a revamp.

On 3611 square metres with a tennis court and pool, it was initially listed with $45m-plus price hopes.

A couple of months later it was relisted following a revamp and a revised guide: $39-$42.5m.

The deal comes nine months since businessman Nick Wakim outlaid c$61m for the Walker mansion, Huntingfield, at 55 Albany Rd.

Phoenix Lithium boss Nick Wakim recently outlaid c$73m for Huntingfield (outlined) and the dwelling next to it (right).

The businessman then quietly outlaid c$12m for a neighbouring home, on 867 sqm.

Last month, meanwhile, we reported a 3669 sqm amalgamation in the street, opposite Lindsay and Paula Fox’s Eulinya, traded for c$40m, again following an off-market deal.

Mr Wakim was again that buyer, it is speculated for his son, Alexander.

Little Milton, on 2476 sqm at #26, sold for $28m in 2022.

Next to that, on Whernside Avenue, the Alfasi family last April banked c$34m for a renovated family home on 2125 sqm (story continues below).

Sir Keith Murdoch once owned 35-39 Albany Road.

High profile owners

Designed by Geoffrey Summers for Helen Wood, the daughter of pastoralist Alexander Creswick, also the widow of Octavius, a Victorian Racing Club vet, 35-39 Albany Rd contains formal and informal living rooms and seven bathrooms.

The Hains family sold a Byron Bay beach house to Justin Hemmes last year.

Late businessman, investor and horse trainer, David Hains, and his wife, Helen, paid $108,000 in 1968; it was largely original when it was listed, with peach walls and carpets.

The home was previously owned by the Murdoch family (Sir Keith, Rupert’s father, lived there five years until his death in 1952) and before that, the UK high commissioner, Sir Robert Cross.

Marshall White’s Marcus Chiminello was the agent but Kay & Burton’s Andrew Sahhar is believed to have introduced the buyer.

Albany Rd is considered Toorak’s best followed by St Georges, Clendon and Irving.

Last February the Hains family sold a Byron Bay retreat to Sydney restaurateur Justin Hemmes.

David died last January, aged 92. More to come.

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Marc Pallisco

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