Adam Garrison, who was until recently a joint venture owner of Spring Street’s Windsor Hotel, has purchased the Dandenong Ranges’ Burnham Beeches.
Sources say the property investor is planning to restore the Sherbrooke estate, about 40 kilometres east of town, as a luxury resort.
The distinctive three-storey art deco home, on 22.7 hectares, was developed in the 1930s as a private residence for Alfred Nicholas, whose Aspro product was at the time one of the world’s highest selling headache treatments.
Designed by Harry Norris, Burnham Beeches reportedly cost £200,000 to build – or about $40 million by today’s standards.
The property, with four staff residences, was converted into a restaurant and hotel in 1980, but shut 13 years later.
It has in recent years been marketed as a development site – previously being approved for a 51-lot subdivision.
CB Richard Ellis’ Scott Callow and Paul O’Connell sold Burnham Beeches this time around, on behalf of receivers and manager Grant Thornton.
In 2008, Mr Garrison offloaded his half share interest in the Windsor to joint venture partner, Halim Group.
Planning minister Justin Madden recently gave the green light for airspace behind that property, to make way for a 26-level, 91 metre guesthouse.
Mr Garrison was also involved in the restoration of Bourke Street’s General Post Office.
The executive was the co-founder of charitable restaurant Fifteen with celebrity chef Jamie Oliver too.