Seven bidders vie for historic $20 million Toorak house
- The Toorak residence known as Darnlee has been used as a nursing home.
- It has scope for a renovation that could cost $5 million or more.
- Seven deep-pocketed parties made offers.
A grand Toorak mansion listed for sale with a price guide of $20 million to $22 million has sold within the quoted range to a local buyer.
Seven parties made offers for the residence at 33 Lansell Road, undeterred by its need for renovations that could cost another $5 million or more.
The Federation Queen Anne style heritage home known as Darnlee dates to about 1895 and is set on an oversized block of 3582 square metres.
Its period features include a conical tower, decorative ceilings, a domed skylight and original lead lighting and fireplaces.
It is now configured as a nursing home featuring 47 bedrooms with ensuites and a commercial kitchen but sold with vacant possession by aged care provider BlueCross.
The residence was used as a nursing home.Credit: RT Edgar Toorak
Selling agents on the deal were RT Edgar Toorak’s Antoinette Nido and Jeremy Fox.
Period details include the decorative ceilings and domed skylight.Credit: RT Edgar Toorak
Nido said the property had been very well preserved, but would need at least $5 million in renovations to reinstate it as a home.
She declined to comment on the identity of the buyer but confirmed the sale was within the quoted price guide.
“It is a beautiful property and it is in an amazing location, and it is surrounded by some of the best real estate that you will get in Melbourne,” Nido said.
The home is ready for a renovation.Credit: RT Edgar Toorak
Another home on the same street sold for $43.1 million to Chemist Warehouse mogul Sam Gance in 2021, while the hotelier Zagame family bought another Lansell Road residence from chef Shannon Bennett and his former partner actor Madeleine West for $24 million that year.
Seven parties made offers for Darnlee in its expressions of interest campaign, and their budgets ranged between $20 million and $35 million, Nido said, adding it was an indication of the strength of the top end of the Toorak property market.
“I am now working with six underbidders,” she said, adding there had been interest from local, regional Victorian, interstate and overseas buyers.
“The demand for Toorak homes is exceptionally strong. This was heritage and needed a lot of work.”
Against a backdrop of delays and cost increases in the building industry, Nido said any homes for sale that did not need renovation were also performing very well.
The top end of Melbourne’s property market marches to its own drumbeat despite the broader downturn, as deep-pocketed buyers may not rely on bank finance and are less affected by rising interest rates.
Other top sales of the year so far include a Toorak mansion snapped up by cricket champ Ricky Ponting and his wife Rianna for a similar price. Elsewhere, celebrity gardener Jamie Durie bought the extraordinary private garden, Paul Bangay’s Stonefields outside Melbourne, for more than $11 million.
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