Historic Cestria to be Sold as Part of Bellwater International Sell-Off
Cestria, at 521 Glenferrie Road, near the corner of Riversdale Road, was built 118 years ago for biscuit manufacturer TB Guest.
The mansion has been reconfigured into a 34-bedroom boarding house, but retains many original features including timber panelling and delicate leadlighting.
Cestria was one of several residential properties owned by the Bellwater International Group, which recently went into administration.
Nichols Crowder’s selling agent Matt Nichols is marketing the property with Noel Jones agent Leon LeGrand. He said its unique nature made it hard to speculate on a price. But industry sources have suggested the property could sell for about $4million in its unrenovated state.
Mr Nichols expects Cestria to attract interest from buyers who may wish to restore the mansion to its original 16-bedroom layout. It could also be reconfigured as an aged care, or medical facility, Mr Nichols said, subject to council approval.
The mansion goes to auction at noon on Wednesday, April 1.
Other Bellwater International properties put to the market this year include residential development sites at 1011 Toorak Road in Camberwell, 951 Dandenong Road in Malvern East, and Hotham Street in East StKilda.
