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News.com.au
15 hours ago
- Business
- News.com.au
Top features in Victoria's $10m luxury mansions
A basement wellness retreat, voice-activated tech and a garage big enough for a supercar collection, that's just the entry point for Victoria's $10m+ prestige club. Buyers' agents and high-end selling agents say homes that crack eight figures are no longer just about postcode or square footage, they're about polish, privacy and absolute convenience. Industry Insider Property director and prestige buyers agent Andrew Date recently inspected a $20m Toorak fortress that ticked every box: two pools (one for laps, one for lounging), a fully automated home system, and a wellness zone in the basement. 'There was a pilates studio, sauna, steam room, the works,' Mr Date said. 'These homes are smart, secure and stacked with lifestyle features.' Kay & Burton director Darren Lewenberg said prestige buyers were increasingly turning away from renovation projects, no matter how grand, in favour of perfectly finished homes. 'They'll pay millions more just to avoid dealing with builders, permits and delays,' Mr Lewenberg said. 'Brand new or fully renovated, that's where the money is going.' And they're ruthlessly detail-focused. Mr Lewenberg said if the floor plan doesn't work, or the build quality isn't up to scratch, they'll walk. 'These buyers are globally aware, well-travelled and incredibly specific,' he said. 'They want quality that holds value.' Land is still the foundation of a prestige purchase, especially in Toorak, Hawthorn or South Yarra. Flat, well-oriented blocks close to schools and lifestyle precincts remain top of the wishlist. But the finish matters too. RT Edgar director Jeremy Fox said prestige homes that seamlessly blend heritage with high-end modern design were a major drawcard. 'Period homes with timeless architecture that have been brought into the modern era, they really resonate,' Mr Fox said. On the Mornington Peninsula, it's all about scale, views and retreat-style privacy. Buyers in Portsea, Sorrento and Red Hill want vineyard backdrops, sweeping water views and space to unwind — with all the luxuries of a city mansion. Most of the biggest sales aren't public either. Mr Lewenberg said many prestige deals above $10m now happen off-market, between trusted networks, with a recent $33m South Yarra mansion was never listed online. 'They're not just buying a home,' Mr Lewenberg said. 'They're buying time, certainty and status. 'And for that, buyers expect it all, bar, basement, butler's pantry and biometric entry, delivered upfront, no compromises.' Melb's $10m+ Property Buyer Checklist 1. Wellness retreat features – Sauna, steam room, pilates studio, and dedicated wellness zones in the basement. 2. Smart home tech and security – Voice-activated systems, biometric entry, advanced surveillance, and full automation. 3. No reno required – Fully renovated or brand-new builds only. Buyers are paying a premium to avoid permits, tradies, and delays. 4. Trophy garage space – Room for supercar collections, often underground and climate-controlled. 5. Entertainer-grade extras – Bar, butler's pantry, private cinema, lift, pool, and alfresco areas, all delivered upfront, no compromises.
News.com.au
a day ago
- Business
- News.com.au
Victoria: Priciest homes revealed including Toorak record-buster
New and old rich-listers splashed an eye-watering $540m-plus on Victoria's 20 most expensive homes of the past 12 months. A record-busting sale reported to fall between $115m to $135m for Toorak mansion Coonac topped the pile. It was also the nation's biggest deal for the 2024-25 financial year although industry sources indicated the transaction likely fell at the range's lower end. Other Toorak listings clocked up individual circa-$70m and $40m sales. Elsewhere, luxurious pads in Canterbury, South Yarra, Brighton and the Mornington Peninsula scored eight-figure sales. But it was the circa-1867 Italianate mansion Coonac that smashed Melbourne's $80.88m benchmark. Industry insiders linked the off-market sale to Kay & Burton managing director Ross Savas and chair Gerald Delany. While it's not been officially confirmed, billionaire Dennis Bastas was widely tipped to have purchased Coonac. Mr Bastas runs a healthcare empire through his leadership roles at Arrotex Pharmaceuticals, myDNA and DBG Health. Mr Savas said the upper end of the Melbourne market has remained resilient. 'Many are taking a generational view — prioritising long-term security, lifestyle alignment and legacy over short-term market fluctuations,' he said, 'At the same time, favourable economic conditions, including the low Australian dollar, continue to attract international interest — particularly from expatriates and global buyers looking to establish roots in Melbourne.' The luxurious six-bedroom mansion at 2-4 Macquarie Rd fetched a figure in the vicinity of $70m shortly before Christmas. Automation platform Neota chairman John Lord and his wife Sue sold the home where visitors are greeted with a sweeping marble staircase, and are likely to enjoy a dedicated basement cinema or the home's temperature-controlled wine cellar and tasting room. Forbes Global Properties' Michael Gibson handled the listing – along with another $40m Toorak pad that changed hands off market. Mr Gibson said there was often multiple buyers for homes prices at $10m to $30. 'The premier market over the past year has been as strong as ever … one thing we are short on is properties to sell,' he added. When it came to luxury features it wasn't uncommon for homeowners to want double-level basements for entertaining, exercising and storing car collections, said Forbes Global Properties director Robert Fletcher, who oversaw a $29m Toorak deal in March. 'I think people who have a large amount of cars tend to look for space for between six to eight cars,' he said. Forbes colleague, senior associate Tracy Tian Belcher said some buyers were more hesitant to buy amid uncertainty about many cuts will be made to Australia's official cash rate across the second half of 2025. Ms Belcher said that even if clients were quite well off, the 13 hikes interest rates across the nation between May 2022 and November 2023 had affected many of them – while reporting on current economic conditions could impact people's emotions. 'Last year, one of my buyers was involved in a six-month long negotiation process for a Toorak home,' Ms Belcher said. Melbourne Sotheby's International Realty managing director Antoinette Nido and colleague Max Ruttner oversaw a $25.6m South Yarra transaction in December. 'Look at me addresses' were important to many recently cashed-up buyers, Ms Nido said. 'What's notable is that a lot of young business people who have made money in IPOs are doing very well,' she said. 'People who you have never heard of will call and when you ask how much they want to spent, it can be $40m to $50m.' Marshall White group sales director John Bongiorno said demand in the Melbourne prestige market's top end had consolidated in the past 12 months as the city's population boomed. 'I think that there are more buyers in the $10m-plus category,' Mr Bongiorno said. 'The amount of people out there with substantial wealth, it's a far bigger than what it was 12 months ago, two years ago, five years ago.' Marshall White handled the $30m-plus sale of a French Provincial-inspired Canterbury house boasting a 16-car showroom, eight bathrooms, a cinema and day spa with a sauna in March, listed by agents Andy Nasr and Marcus Chiminello. Many top-end buyers were taking a long view, prioritising the security, prestige and practicality of homes over price movements, Kay & Burton Stonnington director Darren Lewenberg said. 'These aren't short-term flips, they're generational homes,' Mr Lewenberg said. Many homes that transacted had been fully rebuilt or renovated by architects and interior designers well before being listed. 'Buyers at this level don't want to lift a finger. They want to walk in and start living,' Mr Lewenberg said. Industry Insider Property founder and prestige buyers agent Andrew Date said the surge in off-market deals was one of the most notable shifts in 2024–25. 'Most of the biggest sales never hit the portals. They're done over lunch, through networks, and only involve a few key people,' Mr Date said. 'These homes are so rare, they're not just about location, but land, architectural pedigree, and lifestyle.' Mr Date said prestige demand had also crept further afield especially towards the Mornington Peninsula. VICTORIA'S MOST EXPENSIVE HOME SALES, 2024-25 FINANCIAL YEAR Coonac, Toorak Price: $115m-$135m Agents: industry sources linked the off-market sale to Kay & Burton's Ross Savas and Gerald Delany. 2-4 Macquarie Rd, Toorak circa $70m Agent: Forbes Global Properties' Michael Gibson Address withheld, Toorak $40m Agent: Forbes Global Properties' Michael Gibson 38 Monomeath Ave, Canterbury circa $30m+ Agents: Marshall White's Andy Nasr and Marcus Chiminello. 27 St Georges Rd, Toorak circa $29m Agent: Forbes Global Properties director Robert Fletcher 177-181 Walsh St, South Yarra $25.6m Agent: Melbourne Sotheby's International Realty Antoinette Nido and Max Ruttner 5 St Ninians Rd, Brighton $23m Agents: Marshall White's Ben Vieth and Andy Nasr 10 Struan St, Toorak $22m Agents: Marshall White's Marcus Chiminello and Nicole French Address withheld, South Yarra $21.2m Agency: Withheld 12 Lansell Rd, Toorak $21m Agent: Kay & Burton's Gowan Stubbings 7 Gawith Court, Toorak circa $20-22m Agents: Marshall White's Marcus Chiminello and Nicole French 35 20 Point Nepean Rd, Sorrento $20m+ Agents: Kay & Burton's Liz Jensen and Gerald Delany 6 Macquarie Rd, Toorak circa $20m Agents: Marshall White's Marcus Chiminello and Nicole French 10 Highgate Hill, Toorak $19.3m Agent: Kay & Burton's Oliver Booth 4 Grant Ave, Toorak $19m Agent: Forbes Global Properties' Mike Gibson 8 Robertson St, Toorak $19m Agent: RT Edgar's Mark Wridgway 3786 Point Nepean Rd, Portsea $19m Agents: RT Edgar's David Gillham and Ilze Moran 11 Berkeley Street, Hawthorn $18,888,999 Agents: Jellis Craig's Perry Zhou and Elsa Li 11 Kent Court, Toorak circa $18m Agents: RT Edgar's Tim Brown and Sarah Case 14 Grandview Grove, Hawthorn East $17.5m Agents: Marshall White's James Tostevin and John Bongiorno 444 Musk Creek Road, Flinders circa $17.5m Agency: Forbes Global Properties
News.com.au
04-06-2025
- Business
- News.com.au
St Kilda penthouse boasting views of Luna Park sparks overseas interest
One of St Kilda's most breathtaking penthouses has hit the market, with a $4m-$4.4m price guide. Occupying the entire top floor of 30 The Esplanade, the four-bedroom, four-bathroom residence captures sweeping views of Port Phillip Bay, the Palais Theatre, Luna Park and the city skyline. Kay & Burton Stonnington director Darren Lewenberg said the penthouse had interest from both downsizers and buyers across Melbourne, interstate and overseas. 'It's interesting, we've had a lot of inquiry from the mature market, people coming out of large family homes who still want space to entertain and host the family, but in a more manageable setting,' Mr Lewenberg said. 'But it's not just your typical downsizer. 'This home has a presence — it's commanding attention from all over because people recognise how rare it really is.' Designed by award-winning architects SJB, the penthouse was originally conceived as two separate apartments before a visionary former owner amalgamated the third floor and rooftop to create a one-of-a-kind full-floor sky-home. The swanky pad boasts its own rooftop retreat complete with a spa, sauna, outdoor kitchen, daybed, three bar fridges and two alfresco bathrooms. Wide European oak floorboards, Calacatta marble finishes and full-height glazing set a luxurious tone throughout, while the home's scale and flow feel more like a freestanding house than an apartment. The Smeg-appointed kitchen includes a 90cm gas cooktop and integrated Liebherr fridge, anchored by a showstopping marble island and a separate marble breakfast bar. The internal layout includes multiple living and entertaining zones, with a dedicated dining space framed by views of Luna Park and the bay, and a lounge featuring curved custom bookshelves and gallery lighting. The main suite includes walk-in and built-in robes plus a marble-clad ensuite, while two further bedrooms have private ensuites and the fourth is serviced by a central bathroom. Mr Lewenberg said the double-glazed windows and acoustic insulation deliver surprising serenity to buyers despite the home's buzzing Esplanade position. 'You can be standing inside, looking out over the city skyline or watching queues form at the Palais, and yet it's absolutely calm,' he said. 'That combination of visual immersion and acoustic privacy is incredibly rare.' But, the Kay & Burton Stonnington director said it's the rooftop that leaves buyers speechless. 'The lift opens into the private lobby, and straight away you're hit with uninterrupted views across St Kilda and the bay,' Mr Lewenberg said. 'People light up, there's a physical reaction. And then they head upstairs and it all elevates again. 'It's almost spellbinding.' The rooftop zone is fully self-contained, with bathrooms, entertaining infrastructure, lush planters and ambient lighting, and all just steps from the sand. 'This home offers the ultimate balance, you're in the thick of it, but you're also completely cocooned,' he said. 'It's irreplaceable.' Other highlights include zoned heating and cooling, Liebherr wine fridge, powder room, full laundry, video intercom, direct lift access and basement parking for four cars with storage. Expressions of interest close June 11 at 1pm.
