Lilydale: Porter Davis director lists luxe Lilydale house as liquidators’ investigation continues

Liquidator documents have revealed an estimated $9.94m in property owned by three ex-Porter Davis directors. It comes as one of them has listed a multimillion-dollar Lilydale pad for sale.

The Lilydale house has been listed with a $3.3m-$3.6m asking range.

Three ex-Porter Davis directors have a combined property portfolio worth an estimated $9.94m, a liquidators’ investigation has revealed.

The news comes as former Porter Davis director Paul Wolff listed a luxurious Lilydale house with $3.3m-$3.6m price hopes.

The Melbourne-based home builder was placed into the hands of liquidators Grant Thornton in March, leaving about 1700 projects in limbo across Victoria and Queensland and owing more than $71m to unsecured creditors.

RELATED: Taxpayer-funded help for liquidated builders’ customers expanded

Melbourne’s fastest selling suburbs: Lilydale, Bayswater North among city’s hottest markets

Metricon offers proposal to help finish Porter Davis homes

Last month the Victorian Managed Insurance Fund confirmed a large portion of the homes would be completed under arrangements with volume builders including Simmonds and Metricon, and the Victorian government has agreed to cover deposits for hundreds of homes not insured by Porter Davis.

A Grant Thornton report into the collapsed builder and associated entities was released to creditors last month. It assessed the personal finances of the company’s four directors, Mr Wolff, Travis O’Neill, Anthony Roberts and Bruno Santi.

The appraisal was conducted to determine the directors’ individual capacities to meet any potential claim brought against them by the liquidators.

To date, no claim has been issued and none of the directors have been ordered to sell their properties.

Inside the kitchen and family domain, which is adjacent to a theatre room.

A glam bathroom where you can soak in a tub.

However, the report included a Lilydale home owned by Mr Wolff with a $1.73m estimated value.

The document noted that the property had not been independently valued, which could account for the $1.57m+ gap between its estimated value and real estate price guide.

Set on 2193sq m, Mr Wolff’s Hamptons-inspired five-bedroom house features a pool, in-ground trampoline, half-basketball court and outdoor pizza oven.

The alfresco area entertaining area is adjoined by a pool.

The theatre room is a cosy space.

With a more than 743sq m interior (80 squares), the house also has a theatre room and “Tiger Bar” full of Richmond memorabilia including a pool table patterned with the football club’s logo on its playing surface.

The main bedroom suite boasts two walk-in wardrobes, a coffee station and a combined study and nursery.

Professionals Methven Group director Greg Earney declined to comment, but public records show Mr Wolff owns the abode.

The four living areas include a formal living and dining space.

The half-basketball court is surrounded by greenery.

If the house sells near the top of its quoted range, it could overtake Lilydale’s existing $3.42m house price record set by 49 Hyne St in May.

The creditors report stated another former director at the builder, Mr Roberts owned eight Victorian properties, including a timeshare.

His assets included addresses in Torquay, Parkdale, Pascoe Vale South and Newport worth an estimated $6.206m.

According to the report, Mr O’Neill owns a Victorian property worth an estimated $950,000, while property searches “did not reveal that Bruno Santi holds any real property in his own name”.

There’s also a veranda and second level deck and balcony.

The directors’ properties are worth an estimated $9,945,545 all together.

A Grant Thornton spokesperson said: “the liquidators have not initiated any action in relation to director’s properties, and are therefore unable to comment”.

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: Change of mind costs $50K on high-end Geelong West home

Rock star Glenburn home where John Farnham, Little River Band collaborated for sale

Mt Macedon: Robbie Williams’ biopic home for sale with $9.9m price hopes

Originally published as Lilydale: Porter Davis director lists luxe Lilydale house as liquidators’ investigation continues