Unrenovated apartment in billionaires’ row sells for $1.4m

Billionaires Solomon Lew, John Gandel and David Hains will be joined by a new neighbour in July after an apartment in the tightly held Santosa building – wedged between their respective Toorak mansions – sold last weekend for $1.41 million.

The unrenovated Albany Road unit was part of the estate of Jean Parker, the wife of Michael Parker, Prince Phillip’s former secretary.

Jean, who died earlier this year, and Michael who passed away several years ago, built Santosa in the 1960s on the site of home given to them by the former’s family as a wedding present.

The complex neighbours shopping centre owner John Gandel’s Bedford, which is speculated to be Victoria’s most expensive home, worth about $40m.

On the other side of the fence is David Hains’ relatively more affordable $25m home – while across the road is Solomon Lew’s Whernside mansion – speculated to be valued at about $30m.

Kay & Burton director Andrew Baines said the Santosa unit sold to an investor for $200,000 over reserve.

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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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