Page 13: Toorak’s ‘ugliest’ house Halstead hits market asking $30m, as dirty real estate war heats up
A “dirty” real estate war is heating up in Melbourne’s blue-chip suburb over a property that’s recently hit the market asking $30m.
Page 13
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To some, it’s a palatial palace listed this week with a $30-million price tag. To others it’s “the ugliest house in Toorak.”
Looking at some of the newly renovated faux French provincial renovations or neo-Greek McMansions in postcode 3142, this is quite the statement.
Ugly is in the eye of the beholder in the Melbourne blue-chip suburb which is already home to the third priciest house in Australia, worth $88 million after crypto-businessman Ed Craven set the real estate record for a “ghost mansion” on St Georges Rd in 2022.
Now 12 Lansell Rd is going back on the market on one of not just Melbourne, but Australia’s most expensive streets, where a war of words has broken out among real estate agents and buyer advocates who are on the hustle.
It’s no secret the property market is tough right now, which means only one thing, the real estate industry is playing dirty. Like Christina Aguilera writhing around a boxing ring in her chaps Dirrty.
Think double-dipping and secret agendas among buyer agents, over pricing by real estate agents and backroom deals and handshakes on commissions.
This animosity and agenda playing comes bubbling to the fore whenever a big listing hits.
This week it was after a five-bedroom home known as Halstead was put back on the market by Kay & Burton this week for $30 million.
Toorak buyer advocate David Morrell was reported as saying no one wanted to buy overpriced “lemons” like Halstead being sold by mystery owner Jaindong Wang.
No surprise here given Morrell has a long history of being a real pain in the proverbial for the agents in his area (watch this space).
“They’re chasing $30 million. That’s a joke,” Morrell said.
But in this case even some of his enemies, who wish not be named, say the property is overpriced, given it sold in 2014 for $12.5 million.
Set on an expansive 3286 square-metre block, Halstead was designed in the arts-and-craft style by prominent Melbourne architect Walter Butler in 1916 for Francis Clements, chairman of the Victorian State Electricity Commission at the time.
But the heritage overlays of the “old monster” pose a problem according to one industry insider, who said it had already been on the market for around 900 days with another agent:
“You can’t pull it down,” he said. “It’s one of the ... no scrap that, it IS the ugliest house in Toorak.
“You would need to rip its guts out and you can’t.”
Kay & Burton director Gowan Stubbings was rising above the mansion slinging on Friday, saying ever-so-elegantly he was “proud to represent a great house on a great street.”
“There is no such thing as a lemon on Lansell Rd,” Stubbings added
Wood panelling is a feature throughout the old pile as well as French doors, statement chandeliers, Tasmanian oak flooring, fireplaces and leadlight windows.
The real decider will of course be Saturday’s upon inspection, with expressions of interest through Kay & Burton closing on March 5.