Rod Menzies Sells Namarong, Armadale, For More than $9 Million

Investone Wealth Management managing director, and wealth management author, Ian Murdoch has been revealed as the mystery buyer of Armadale’s Namarong mansion, in ultra ritzy Hampden Road.

Namarong was put on the market in April, after its outgoing owner, chairman of Menzies Arts brands Rod Menzies, purchased the Stonington mansion in Malvern last July.

Namarong is believed to have sold for more than $9 million, far less than the price Mr Menzies might have anticipated, even when he put to the property to the market five months ago.

A major renovation of Stonington prevented Mr Menzies from selling his Armadale any earlier than 2008.

Marshall White director Sean Cussell, who also negotiated the Stonington mansion sale, confirmed Namarong sold but declined to comment on any part of the deal. Mr Murdoch also declined to comment.

The most expensive home to sell in Armadale was in Flete Avenue, when in 2006, overseas business identity Michael Wong paid $13.75 million for a home formerly used by the Yooralla Society of Victoria.

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Marc Pallisco

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

Marc Pallisco

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