Five weeks after agreeing to pay pub baron Mazen Tabet a reported $16 million for a near-new Toorak mansion, celebrity chef Shannon Bennett and wife, actress Madeleine West, have listed their outgoing South Yarra home, Barwon.
The c1881 Percy Oakden Cromwell Road home is expected to sell for more than $7 million which would reflect a sizeable gain on the $4.805m the pair paid in late 2012.
Barwon had been on the market for six months – initially with $5.5m hopes.
It previously traded in 2005 for $2.8m; that owner undertook a double storey extension.
On 1250 square metres, the dwelling includes two studies, a self contained apartment, gym, pool, spa and swimming pool.
There are five bedrooms – which the Bennett family, with six children, have outgrown.
Shortly after buying Barwon, the chef, who owns Vue Group and Vue de Monde at Rialto) offloaded a four-bedroom Kensington home, in Melbourne’s inner north-west, for c$1.5 million.
West meanwhile sold an apartment in Lennox Street, Richmond, in Melbourne’s inner east.
The next house
As they did with Barwon, the Wests acquired their new family home in Toorak at a substantial discount to its initial asking price (quoted at $20m, prior to 2016).
On 1514 square metres in tree-lined Lansell Road, that home is substantially larger than Barwon – despite also having five bedrooms; it spreads over four levels and is serviced by a lift (story continues below).
It also contains numerous living and dining rooms and a rooftop terrace with city views.
Pub baron Mazen Tabet – who in 2015 paid $17m for the Portsea hotel – only recently completed the dwelling before moving overseas.
Bennett business sold
Bennett meanwhile last year banked a reported $15 million selling a majority interest of his hospitality empire to wealthy Singapore brothers Robert and Philip Ng (who are said to have a combined net worth of close to A$9 billion).
This Ng deal reportedly included interests in a stable of ventures including Jardin Tan at the Botanic Gardens, Café Vue at Heide Museum, Bistro Vue at Little Collins Street, Lui Bar at Rialto, the Benny Burger chain and historic Burnham Beeches estate, in the Yarra Ranges.
In return, it is expected Bennett, who retains a 35 per cent stake in his Vue Group empire, will open restaurants in the US and Asia.
The chef, also an author, from Westmeadows, reportedly also owns a coastal estate in Lorne and land on the Byron Bay foreshore.
West, who was raised in Woodend, has recently appeared in television shows The Wrong Girl, House Husbands, Winners & Losers and Fat Tony & Co.
Kay & Burton’s Ross Savas and Steven Rode are marketing 38 Cromwell Road, South Yarra, via an expressions of interest campaign closing on November 21.