Toorak mansion fetches $10.5 million in secret off-market deal

A Toorak mansion has sold in a discreet off-market deal for $10.5 million, more than a year after it was withdrawn from sale. 

The luxurious four-bedroom home at 8 Barnard Road had been rented out after it did not sell last year and was not officially back on the market when a buyer made an offer too good to refuse, selling agent Marshall White Stonnington director Marcus Chiminello said.

The property sold last week to a local family who had expressed interest in it before, deciding this year they had to have it.

“They have effectively paid $500,000 more than they would have paid last year,” Mr Chiminello said.

He said the family were planning to do some cosmetic work on the home before moving in.

The sale comes despite dire warnings for Australia’s property market, with banks and economists predicting that job losses, a higher rental vacancy rate and low migration will impact sales and prices.

“We’re seeing it time and time again, a great property in a good area will always sell no matter what is going on in the market,” Mr Chiminello said.

The Toorak property was one of several multi-million dollar sales in Melbourne, Sydney and Brisbane in recent weeks.

A four-bedroom Victorian home at 60 St Vincent Place North, Albert Park sold on Monday for more than $9 million, with the exact price remaining undisclosed.

SOLD - $9,220,000

60 St Vincent Place North, Albert Park VIC 3206

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In Sydney, the Agency’s national head of sales Thomas McGlynn said there had been some impressive recent sales despite coronavirus.

“The fact many of these sales have occurred on properties that were both on the market pre-COVID-19, and properties that came onto the market during the pandemic, shows prestige buyers have been staunch in their appetite for quality property,” Mr McGlynn said.

Historic property Melton was sold for the first time in 70 years on May 18.

The property at 14 Drummoyne Road, Drummoyne, which was owned by the Marist Brothers Trust, includes two buildings and 12 bedrooms, was on the market with a price tag of $12 million. It sold for an undisclosed price.

SOLD - Price Withheld

14 Drummoyne Avenue, Drummoyne NSW 2047

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The luxury former home of mining magnate Peter Goudie at 41 Battle Boulevard, Seaforth sold on May 14. It had a $12.95 million price tag, but the actual sale price remains undisclosed.

The luxury, five-storey home features an internal lift, billiard room, home cinema, gymnasium and a harbourside swimming pool, boat shed and jetty.

Price Reduced

41 Battle Boulevard, Seaforth NSW 2092

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The sale was handled by Sandie Dunne of Drew Lindsay Real Estate, and David Rothschild of The Agency.

Meanwhile a record-equalling sale at 2 Heron Avenue, Mermaid Beach was revealed this week, with a luxury four-bedroom home owned by former AFL player, now property developer Tony Smith selling for $25 million.

The property was sold off market with Prestige Property Sales Harry Kakavas involved.