Tuesday

Toorak mansion sold to mystery buyer for a record $18 million.

After a knock on the door and a walk thru, an unknown buyer puts an offer. The buyers advocate compares the sale to an 1880's gold rush. The 100-square two-storey English style-mansion was sold about five years earlier for $5.4 million. A little later the parcel of land next door (a tennis court) was bought for another $1.2 million. About $1 million was spent on renovations. As is usual for titleholders of highly prized sites, criminal fines for insider trading, & allegations of tax evasion using a Charitable Foundation plagued the vendor. While the price is believed to be a record, it might be trumped by a bid for a similar site being marketed as Stonnington mansion. 29 May 2007 Craig Binnie and Nicole Lindsay Herald Sun

No comments: