Latest news with #RTEdgar
News.com.au
5 days ago
- Business
- News.com.au
Toorak land now asking $40m with no permit
It's the most expensive patch of dirt in Melbourne, and there's not a house, plan or permit in sight. A vacant block on Toorak's most exclusive street is being quietly offered to a select pool of buyers, with expectations it could fetch more than $40m, despite having nothing built on it. The cleared site at 16 St Georges Rd was once home to the grand Edwardian villa Idylwilde, controversially demolished in 2015 after a failed bid by Stonnington Council to save it. Now, a decade on, the block is back in play via an off-market campaign that could set a new benchmark for undeveloped land in Victoria's priciest postcode. Overseas buyers eye St Kilda pad near Luna Park It's not the first time the land has been offered. The site was publicly listed in June 2020, also through RT Edgar, with a multimillion-dollar price tag, but after 243 days on the market and no sale, it was quietly withdrawn. RT Edgar auctioneer Jack Edgar, who is handling the off-market listing, said buyer appetite for prestige sites had reached new heights. 'The demand for A-grade land in Toorak is as strong as I've ever seen it,' Mr Edgar said. 'Buyers are increasingly confident in building luxury homes, and they're looking for elite positions like this.' While the $40m+ figure won't top Toorak's all-time record, believed to be the $80m off-market deal for 17 St Georges Rd in 2022, it would rank among the suburb's most valuable bare blocks, with no planning permits or house to speak of. Prominent Melbourne buyers' advocate Cate Bakos said price at this level was driven by scarcity, not square-metre rates. 'To most people, $40m sounds astronomical — and it is — but buyers operating in this space aren't shocked by the figure,' Ms Bakos said. 'They're focused on the opportunity to create something iconic.' Ms Bakos said prestige buyers often prioritised vision and legacy over resale. 'They're not worried about holding costs or land tax,' she said. 'These are long-term plays.' The site's past still lingers in local memory. It was bought in 2013 by Chinese businessman Wang Hua and then-wife Xiao 'Kylie' Yan Bao for $18.5m, before their demolition of Idylwilde sparked public backlash. Stonnington Council tried to block it, but the state ultimately ruled the home lacked enough architectural significance. The land has sat empty ever since. Now, with no house and no permit, the $40m block could finally get its next chapter, and become one of Toorak's most valuable blank canvases yet.
News.com.au
6 days ago
- Business
- News.com.au
Toorak mid-century home listed with plans to transform into $8m luxury residence
A 1960s Toorak home with council-approved plans is drawing buyers keen to turn it into one of the suburb's next multimillion-dollar masterpieces — all without the price tag of a finished home. Tucked away in a quiet cul-de-sac, 4 Theodore Crt is a striking mid-century residence set on a 387sq m block, with a price guide of $3.2m-$3.52m. The existing home still wears the hallmarks of its era — stonework, sculptural lines, original cabinetry and bold geometry. The property also comes with a full set of endorsed architectural plans to bring it back to life in spectacular modern form. RT Edgar director Jeremy Fox said interest was strong among design-minded buyers looking to create something unique in a tightly held Toorak pocket. 'It's a uniquely designed 1960s house, those kinds of homes are really coming back into fashion,' Mr Fox said. 'The lady who started the renovation had a clear vision, but now it's ready for someone else to step in and put it all back together. 'It's a unique opportunity for someone to bring those original 1960s features back to life and reimagine them in a modern context.' The council-approved plans include four bedrooms with ensuites, a vast open-plan kitchen and living zone, rooftop terrace with sweeping Yarra views, an in-ground pool, and off-street parking for two cars, all brought together by natural stone and luxury finishes. Mr Fox said the property appealed to a specific type of buyer — savvy, creative and keen to capitalise on the value difference between what exists and what's possible. 'We're seeing strong interest from all the usual suspects, renovators, husband-and-wife teams who can't find a finished house in Toorak for $6m or $7m,' he said. 'They see the potential here to finish it off for $1.5m and have something worth closer to $8m when it's done.' The RT Edgar director said the home was priced below market value compared to many finished homes in the area and noted that the lack of a heritage overlay gave buyers welcome flexibility. 'All the architectural plans are ready to go, which is a huge bonus,' Mr Fox said. 'And because there's no heritage overlay, buyers have the freedom to restore or rebuild. That kind of flexibility is rare in Toorak.' Just a short walk from top private schools, Como Park and Toorak Village, the property is surrounded by some of Melbourne's most prestigious homes and sits on elevated, north-facing land.
News.com.au
10-05-2025
- Business
- News.com.au
Ticketmaster boss Gavin Taylor selling ‘house-size' apartment featuring a built-in bar
Ticketmaster boss Gavin Taylor is selling his 'house-size' Melbourne apartment with a $1.2m-$1.32m price tag. Mr Taylor was appointed as the ticketing platform's chief executive since 2021, the same year that he purchased the three-bedroom home located in a complex opposite Albert Park Lake. He previously served as the West Australian Football Commission's chief executive and has held a number of other sports and health-related positions. Five bidders fight for dilapidated Albert Park Victorian-era abode at auction RT Edgar's Chelsie Cargill said that Mr Taylor had lived at the 170sq m abode with his family and their pet dog Alby, who features in some of the listing photos. 'This is a hard-to-find, house-size apartment that truly stands out for its amazing size and space – a rare gem in today's market,' Ms Cargill said. Since buying the residence, the Taylors have extensively renovated it. 'The wow factor is in the open-plan living and kitchen area,' Ms Cargill said. 'They gutted the apartment and put in a new kitchen, bathrooms and laundry.' Showcasing high ceilings and large windows, the northwest-facing living and dining area has a fireplace and built-in bar. In the kitchen there's a 90cm induction cooktop and oven, dishwasher, large engineered stone benchtops and filtered water tap. Views of Albert Park Lake and Melbourne CBD's skyline can be enjoyed from the kitchen's central bench. A tiled outdoor entertaining terrace looks over nearby treetops while guests can also take advantage of a powder room separate to the main bathroom. The main bedroom features a walk-in wardrobe and ensuite, while other highlights include a study, double-glazed bedroom windows, ducted heating and cooling, intercom entry, basement parking and access to the complex's communal pool. Ms Cargill said she expected interested buyers to include families wanting the convenience of a location close to the city, restaurants, Albert Park Golf Course and Chapel St. 'It may be someone interstate who wants a place in Melbourne for when they travel, obviously you would have first-class seats to watch the Grand Prix from the home,' she said. The residence will be auctioned at 10am on May 31.
