Rose Porteous Building Prix D’Amour in Toorak?

Sources say Ms Porteous has quietly snapped up a house in Clendon Road – just a few hundred metres from the penthouse apartment she moved out of last year. It is the fifth Toorak property Rose has purchased since arriving in Melbourne two years ago.

Rose has turned around an impressive profit from her frivolous trading of real estate despite paying hundreds of thousands of dollars in stamp duty. About two years ago, she paid an estimated $2.5 million for an unrenovated Tintern Road home she planned to demolish and rebuild.

Plans changed by early 2006, when she paid around $4 million for two adjoining Clendon Road apartments – one for her wardrobe, and the other for herself, husband Willy and four poodles Dennis, Lulu, Linus and Snoopy.

By the end of last year, Rose decided apartment living was not for her – forking out an estimated $6.1 million for the Barnard Road home of solicitor John O’Halloran. She held onto the property for six months, eventually selling it for $7 million in an off-market deal.

Sources expect Rose to live in her one remaining Clendon Road apartment to quite literally oversee construction of her new pad, which may take more than a year to build.

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Marc Pallisco

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

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