Victoria’s Highest Priced Home Still Unsettled

Though the home’s construction quality is high, the 2000 square metre block is considered relatively small for a home carrying such a high price tag. The estate doesn’t include a tennis court, and building one would mean reconfiguring the expensive, backyard, which centres around a dramatic lap pool.

Selling agency Kay & Burton said the Toorak campaign is “all going to plan.”

“Ross is currently negotiating with several parties – two of whom are offshore,” a spokeswoman said for Mr Savas, who was in Hong Kong. “Not surprisingly, given the price tag this won’t be a fast result. The close of EOI was just the end of stage one”

Victoria’s record sale price – some $26 million for the Ilyuka estate in Portsea – was set last December and immediately following an EOI close date.

The state’s previous record home sale price, for a St Georges Road, Toorak mansion, was set in an off-market transaction, also in 2010.

Australia’s record price was set in late 2009 when a Mosman Park, Perth mansion sold for $57.5 million.

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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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