Former Swisse Wellness chief executive officer Radek Sali and his wife, Helen, have finally sold a unique Hawthorn property – one of two inner-city Melbourne vineyards – after abandoning plans to build a family home and move there.
The 8175 square metre holding at 32 Coppin Grove, on the banks of the Yarra River, in the suburb’s revered St James Park precinct, is speculated to be trading to Matthew Danos, ex-Wingate director, now with diversified family business James Richardson Corporation, or JR Group.
The value is as-yet unknown – after hitting the market eight months ago with $15m-plus hopes, expectations progressively dropped.
In March, when the campaign changed from a private sale to expressions of interest, the guide was $11m.
Marshall White’s Andrew Gibbons, Richard Mackinnon and Marcus Chiminello were the agents.
Mr Sali banked c$250m when Swisse Wellness sold to Hong Kong listed Biostime for $1.7 billion in 2016.
Improvement, value demolished
The Salis listed 32 Coppin Grove after moving to Brunswick Heads, near Byron Bay, and a 23.3 hectare estate which cost $18.5m in late 2020.
The couple had not long earlier appointed Wood Marsh to design a dramatic new-build at Hawthorn.
They also demolished a contemporary double storey, four bedroom house at the corner of the block which, agents not working on the campaign said, when the property hit the market last year, would have ruled out plenty of potential buyers, negatively affecting value.
The Salis did however upkeep the more than 1000 vines planted over the bulk of the site, which is on a fertile flood plain, and establish a business, Hawthorn Estate, with the potential to output over 2000 bottles a year.
The vineyard was set up in 1998 by the property’s former owners, Michael and Ann Cohn, which established operated another brand, Coppin Grove Wines (story continues below).
Melbourne’s second inner city winery is the Studley Park Vineyard, also on the Yarra River banks, in Kew.
Another deal in exclusive street
The Hawthorn deal comes two months since the landmark Avon Court on Shakespeare Gve – the continuation of Coppin Gve – sold for $41m.
On and off the market for several years, the buyer was Curve Finance CEO Mikhail, or Michael, Egorova, and his wife, Anna, who last March paid $18.25m for the Italianate mansion next door, Verona.
All up, that couple now control over 5700 sqm in the uber exclusive pocket.
In mid-2021, meanwhile, ex-National Australia Bank chief executive officer Ahmed Fahour offloaded Invergowrie, at 21 Coppin Gve, for $40.5m.
On 1.03ha, and once known as Burwood, that dwelling sold to medical executives Angela and Stephen Tomisich – who not long earlier banked c$220m selling a 60pc interest in their company, Trajan Group.
Like Avon Court, it spent several years on and off the market.
Elsewhere in the pocket, radio and television personality Andy Lee and his girlfriend, Bec Harding, are renovating and extending a long-vacant Italianate on 1798 sqm in nearby Yarra Grove acquired for $8.5m in October, 2021.
That property, like 32 Coppin Gve, has Yarra River frontage.
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