1. South Yarra Stunner Lists for $5.5m+

    Situated in a quirky pocket of mid-century apartment blocks and modern townhouses, ‘Barwon’ - an elegant c1881 Victorian mansion on 1266sqm of South Yarra land listed with price hopes around “in excess of $5.5m”. The Percy Oakden-designed and heritage-listed home traded back in Feb 2005 in less-than-stellar shape for $2.8m. Extensive renovations have gone on in the years since 2007 when the first of permits was submitted to Heritage Victoria; and the result is Radical Terrace-approved. The four bedroom home includes a massive master with ensuite, pool, pool house, an exceedingly discrete double car garage, and interiors featuring a collection of different flooring materials that work well together from polished aggregate concrete to distressed and polished floor boards. The seemingly reasonable house price likely suggests Barwon’s situation on a slightly drab block, as opposed to the more desirable Domain-adjacent location of 58 Millswyn, a (creepily) similar South Yarra Victorian mansion asking over $8m. Even still, we’d take ‘Barwon’ over Millswyn any day. 

    Jeremy Fox and David Colbran of RT Edgar Toorak have the listing: 38 Cromwell Road, South Yarra

  2. Edzell House Chops, Wants $8m+ For Yarra Frontage

    Last November, it is the Radical Terrace’s understanding that ‘Edzell House’, a landmark 1891 Reed Smart & Tappin designed Queen Anne home at 76 (-86) St Georges Road sold for $11m. During Edzell House’s multi-year marketing campaign, plans for subdivision were flaunted. Most notably, MGS Architecture-designed plans for a riverfront abode with 5-bedrooms and a copper roof were revealed.

    Fast forward to today, and up appears a half-acre (1800sqm) block of land (without any council approved plans being advertised) listed through RT Edgar agent David Colbran for $8m+. It’s a big price, indeed. And even though this property scores an uber-prestigious St Georges address (a hyphenated one at that!), comps for this block of land likely sit on the less-salubrious Yarradale Road (where number 15 sold for $6.75m in Jun 2011 and sat on a river-fronting 3,160sqm block of land nearly twice the size of the featured property), Edzell Ave, and the other even, high-numbered homes of St Georges Road. Surprising to some, Yarra River frontage was notably less desirable at the time of subdivision of the great estates in the inter-war years (Edzell House was originally on 70 acres) due to the low-lying and dank location adjacent to the quasi-industrial and smelly Yarra River. Perhaps better comps for this chunk of land lie off Coppin Grove in Hawthorn where some of the larger river front estates remain undivided and sit at a higher elevation (12 Coppin Grove sold for $17m in Jul 2011 and is now looking to chop off 3,000sqm of the original 5,000sqm title for $7m+), #21 for $10.75m in 2002, and three other sales between $5 and $10m in the last five years). All in, the acquirers of 76 St Georges Road are likely very happy with themselves; seeing that if they score their desired asking price, they will - in effect - have purchased the Edzell Mansion for a paltry $3m. 

    Check out the old renderings of a possible home at 82-86 St Georges Rd, courtesy of MGS Architects via 76 St Georges Road’s old listing site (that’s surprisingly still live to our good fortune):

    The listing: 82-86 St Georges Road, Toorak

  3. RT Edgar’s Oops Moment

    We know Toorak is desirable, but…really? Jeremy Fox and David Colbran of RT Edgar Toorak took the power of a suburb a bit too far, falsely listing a Prahran house at 4 Grandview Grove as Toorak. Granted, it’s a pretty damn nice Victorian Italianate “mullet” house; it’s well-renovated, features polished concrete floors and a slick backyard pool. And Grandview Grove is the least Prahran-like Prahran street, but straight-up calling it Toorak is a bit of a stretch. I mean, you may be able to get away with Armadale, but Toorak? Then again, at $4.8m+, it’s asking quite a Toorak price…

    The listing: 4 Grandview Grove, PRAHRAN