Revered restaurateur Jacques Reymond is selling the historic Prahran mansion which for decades housed his eponymous eatery.
The heritage listed property at 78 Williams Road is expected to trade for more than $4 million following the close of an expressions of interest campaign next month.
The residence was constructed in the 1880s as a wedding gift for the owner’s daughter,
It is identical to the dwelling next door (#80) – a property which has been retained as a prestige home which last sold in 2011 for $2.1 million.
Colliers International’s Guy Wells, Ben Baines and Alex Browne said the neighbouring property could prove the blueprint for 78 Williams Road “providing a four bedroom residence with formal dining room, living room and ground floor kitchen area”.
“The property would suit conversion back to a grand residential home taking advantage of the high ceilings, large land holding and surrounding proximity to prestigious schools, major arterials, parkland and retail amenity,” Mr Wells added.
There is also an opportunity to develop premium apartments to take advantage of the location and heritage appeal, the broker added.
“The potential to develop heritage apartments within the existing envelope, while including new apartments to the rear while maintaining vehicular access, provides a unique development offering subject to the relevant approvals.”
The agents added that 78 Williams Road could also be developed into medical consulting suites – with the Avenue Hospital about 300 metres away.
The block spreads 1010 square metres and has a small rear car park
Investors and owner occupiers are other suitors for the vacant building which is configured with five dining areas, two commercial kitchens and is surrounded by manicured gardens.
The mansion underwent a major refurbishment when the last occupier, Woodland House, moved in five years ago.
For 23 years before that, the Prahran building accommodated Jacques Reymond Restaurant – hosting famous identities including Elton John, Dannii and Kylie Minogue, Michael Schumacher and Cliff Richard.
“Offering rich history and endless charm, this is a rare opportunity to acquire one of Melbourne’s most recognisable buildings and influence the next chapter of this iconic property’s outstanding story,” Mr Wells said.
Elsewhere in Prahran, the Reymond family operate L’Hotel Gitan at 32 Commercial Road. It is set to open a restaurant within the historic ground floor of an office under construction at 9-11 Cremorne Street, Cremorne.