Myer family reveal ritzy new look for Toorak estate aiming to be Melbourne's second $100m home
The Myer family's sprawling, $100m Toorak estate Cranlana has been green-lit for an incredible renovation that could transform it into Melbourne's most prestigious home.
The 62 Clendon Rd property is now approved for a new pool with a neighbouring wellness centre, several outbuildings an interior redesign and a striking tennis court zone in its expansive gardens.
It remains the city's most expensive active property listing, after hitting the market in spring last year with a $96m-$105m asking price.
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That sum has subsequently been trumped by the more than $100m sale of nearby mansion Coonac, by former Essendon Football Club president Paul Little and his Melbourne University chancellor wife Jane Hansen.
But Myer Family Investments have now revealed plans for a Heritage Victoria-approved overhaul to the 1.14ha landmark they are understood to have been seeking since prior to it being offered for sale.
An initial deadline for buyers interested in the home was set for November 11 in 2024, but Toorak locals and industry sources had indicated there were question marks over how feasible a renovation would be at the heritage listed property.
The release of a selection of renders, and details that include a new pool, a 20-car basement garage and modernised living spaces within the home surprised many of these parties.
The home is approved for a new pool with an accompanying wellness centre in its expansive gardens.
The impressive residence and gardens as they are today.
The property is being sold by Myer Family Investments (MFI), whose chairman is Rupert Myer. Picture: Luis Enrique Ascui.
Marshall White listing agent Marcus Chiminello would not discuss prospective buyers' views on the home, but said the new imagery showed what could be achieved.
'The approved plans would transform it into one of Melbourne's most impressive residences,' Mr Chiminello said.
'And it could be done in a pretty short timeline.'
Cranlana has been owned by the Myer family since Sidney Myer and wife Merlyn bought it in 1903.
It's Italianate style has been celebrated as a part of Toorak's heritage, while its grounds and the home itself have been used to host philanthropic and family events.
He added that strong transactions continued in Toorak, with the right homes still attracting strong offers — while noting that $100m was now seen as the top end of the city's housing market.
A more modern interior could now be established for the home by its next owners.
Renders show that while the home is slated for a potential update, it would still retain much of its period charm and character.
'There are now probably a handful of properties worth these figures, but it's just whether they will ever come up for sale,' Mr Chiminello said.
The agent said that there would be a six week window of high activity in Melbourne's most illustrious suburbs following the federal election, with about three more weeks still to go.
Sales records show Mr Chiminello has had a bumper May, selling the Robertson St, Toorak, home of landscape architect to Melbourne's elite Jack Merlo on May 20.
The home had been listed for $16m-$17m.
He has also sold luxury homes in Armadale and a penthouse in Toorak since the federal election.
Meanwhile there has been a $50m sale of the family home of the late Marc and Eva Besen, who established one of the city's wealthiest families with children including Sussan fashion label boss Daniel Besen.
A redesign would look to enhance the home's sense of space and use of natural light.
The 62 Clendon Rd, Toorak, property offers plenty of space as it stands.
It is understood the home was sold by Kay & Burton's Ross Savas and Nick Kenyon, who also handled the $100m-plus sale of Coonac for Mr Little and Ms Hansen.
Michael Gibson has also recently sold 17 Linlithgow Rd, Toorak, above expectations in a boardroom auction.
Industry sources have indicated that the home sold for $12.61m, well above the $9.6m-$10.2m that had been listed as part of its expressions of interest.
Mr Gibson confirmed the home had six parties attend a private auction on Tuesday, May 20, and that it was on the market at $10m .
It was the second this month that they had taken to a private auction for more than $10m.
'The depth of that segment in the market is incredibly strong ... it has never been stronger,' Mr Gibson said.
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Originally published as Myer family reveal ritzy new look for Toorak estate aiming to be Melbourne's second $100m home
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