Toorak deal sets state record

The record price for Victorian home has been smashed by almost $14 million following an off-market “done deal” in Toorak.

The St Georges Road property – believed to be Marina Darling’s at #18 – is exchanging for $40m.

The result comfortably exceeds the $26.25m watermark set in December, when Daniel and Danielle Besen sold a Towers Road house in the suburb to Netflow chief Phil Dreaver.

That deal broke the state’s previous price record of $26m, established in 2010 when BRW Rich List member John Higgins paid Computershare executive Michele O’Halloran Portsea’s Ilyuka.

Last year, a contemporary Toorak mansion in Robertson Street, with 1600 sqm of internal area, was sold by Smorgon family members for $24.1m – temporarily setting a metropolitan Melbourne record.

RT Edgar is behind the $40m deal.

The exclusive and tree-lined St Georges Rd between the Yarra River and Toorak Road is considered, with nearby Albany, to be Melbourne’s most exclusive rows.

Last year, developer Harry Stamoulis moved into an enormous mansion at 39 St Georges Road – a site he bought for $24m in 2010.

In 2015 the distinctive c1913 Idylwilde at number #16 was demolished after being acquired by Xiaoyan “Kylie” Bao for $18.5m two years earlier.

UK actor Daniel Radcliffe retains an apartment in the street; the Harry Potter star unsuccessfully tried to sell 98B for c$2.5 million in early 2015.

David Yu spent $5 million in 1991 for a French Renaissance style mansion on one of the street’s biggest holdings – 29 – which he subsequently, famously, left vacant for decades.

In 2007, Liberal party powerbroker and FlexiRent founder Andrew Abercrombie paid US executive Bob Edgell and his wife, Fena, a part of the Indonesian royal family, $14m for a then near-new St Georges Road home.

Six years later he added to his portfolio on the road with the historic Edzell House, on 6023 sqm – sold by Michael Spivakovsky, who inherited it from his father, acclaimed pianist Jascha.

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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of