Myer family’s Toorak mansion fetches about $20m
By Elizabeth Redman and Kristy Johnson
A grand Toorak estate belonging to the Myer family is changing hands for the first time in about 70 years, having been snapped up for about $20 million.
The sale is an upbeat start to the year for Melbourne’s prestige property market, which finished 2024 with plenty of listings still available.
The four-bedroom house at 4 Grant Avenue, set on a block of about 1600 square metres, had been listed in the spring with price hopes of $20 million to $22 million.
It was the home of the late businessman and philanthropist Baillieu Myer and his wife, Sarah Myer. Baillieu Myer served as chair of department store Myer and sat on the boards of companies including the Commonwealth Bank, Cadbury Schweppes and the Ten Network.
The online listing has now been marked as sold. Selling agent Mike Gibson of Forbes Global Properties confirmed the sale when contacted but declined to comment on any other aspect of the deal.
The exact price paid and the buyer’s identity will become public on settlement.
The home’s architects also designed the Sidney Myer Music Bowl.Credit: Forbes Global Properties
Although the facade is heritage protected, top architect Rob Mills has created sketches to offer the new owner inspiration for a contemporary remodelling of the home.
The Regency-inspired home dates to 1936 and was designed by architects Yuncken, Freeman & Griffith, who also designed the Sidney Myer Music Bowl.
The house has three bathrooms, two car spaces, a circular driveway, and grounds that were finished in 1937 by landscape designer Edna Walling.
Deep-pocketed buyers looking for a Toorak estate still have the option to inspect Cranlana, the home of Baillieu Myer’s parents: businessman and philanthropist Sidney Myer, founder of Myer department stores, and Dame Merlyn Myer (nee Baillieu).
The home was later used for programs run by the Cranlana Centre for Ethical Leadership, and for philanthropic events and family celebrations.
It is available with a price guide of $96 million to $105 million.
Melbourne’s house price record stands at $80 million. It was set by crypto casino entrepreneur Ed Craven for a renovation project on the grand boulevard St Georges Road.