Toorak $27 million listing tests changing market
A Toorak masterpiece relisted by its vendors for more than $30 million has landed on the market at just the right time, according to the agent.
The fully renovated mansion at 3 Heyington Place has been put up for sale again after it failed to find a buyer for $27-$29.5 million late last year.
It’s now for sale with a suggested sale price of $27 million.
Marshall White Stonnington agent Marcus Chiminello said an improving market meant there were more active buyers than last year.
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“We’re getting an extraordinary amount of expatriates who are trying to set themselves up for schools in the new year,” Mr Chiminello said.
“There has already been a firm offer on the property and secondary interest to that … I’m confident we’ll see the property sell well.”
The vendors, businessman John Zeigler and his wife Lisa, did extensive renovations to the grand six-bedroom home after buying it for $3.4 million in 2002, according to CoreLogic.
Highlights of Palmilla include elaborate formal sitting and dining rooms, a home cinema and billiards room, bar, home office and marble kitchen.
Car lovers will also appreciate the 10-car garage, which Mr Chiminello said could possibly fit up to 16 vehicles.
Outside, there’s a full-sized tennis court and a pool.
The five-bedroom property is the most expensive on the market in Melbourne’s exclusive suburb.
Other pricey sales in Toorak this year include 26 Linlithgow Rd, which sold for $12.15 million in March, CoreLogic shows.
Another property on Heyington Place owned by high-flying media executive David Evans also sold for an undisclosed price, after being on the market with an asking range of $11.5-$12.5 million.
A grand red brick house at 28 Irving Rd is also for sale with an $11.5-$12.5 million price guide.
SUBURB PROFILE: Toorak
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