Sold by Darren Lewenberg, Grant Samuel, Gerald Delany and Jamie Mi of Kay & Burton.
This landmark Toorak landholding has been sold by Kay & Burton in less than a week after coming to market for the first time in 47 years.
Built in 1934, “Rostrevor” is positioned on one of Melbourne’s most prestigious Boulevards, standing proudly on approx. 1,655sqm with a price point circa $10m.
Source: Kay & BurtonThe Private Sale campaign officially commenced on Saturday 25 March and by the following Friday the property was sold.
“We had 6 back to back private inspections at the property on the Saturday and a couple of groups came back through the home early the following week with their architects and additional family members,” Darren Lewenberg told WILLIAMS MEDIA. “From there, one of the groups documented an offer and following fruitful negotiations, the home was sold within a couple of days.”
Source: Kay & BurtonThe home’s substantial interiors preserve the superb craftsmanship and beautiful detail, while offering excellent scope for further sympathetic renovation (STCA).
“Given the circa $10m price point of the property and the fact that the home has a Heritage Overlay and required substantial investment (from a time and dollar perspective), the home was unlikely to spark legitimate interest from numerous buyers,” Darren explained to WILLIAMS MEDIA.
“That said, despite the impact of the current pandemic, we were extremely pleased by the very early interest from both local and expat buyers, requesting information on the home.”
The home was sold to a local family from Boroondara who were extremely eager to secure a significant home, with large land, with the opportunity to renovate.
Source: Kay & Burton“This sale, as well as a number of other ‘high end’ transactions managed by Kay & Burton in very recent times, has certainly demonstrated the robust nature of the Melbourne property market,” Darren told WILLIAMS MEDIA.
“Without question, like all sectors of the economy, real estate is facing unprecedented challenges. That said, these transactions demonstrate the capability, motivation and appetite of the local and international market, to view Melbourne property as a long term, viable and sought after investment.”
To view listing or for for information click here.
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Get to know Darren Lewenberg of Kay & Burton
Get to know Jamie Mi of Kay & Burton