Former deputy lord mayor puts Eildon Mansion on the market looking to sell for $12m

One of the oldest houses in Melbourne’s bayside suburbs and the biggest landholding in St Kilda is for sale, and it could be returned to its former glory as a family home.

Eildon Mansion in St Kilda has be listed for sale, and is expected to sell for between $11m and $12m.

An old-world treasure still standing in a bayside suburb has hit the real estate market for the second time in two years.

St Kilda’s Eildon Mansion, located at 51 Grey St, has been listed for sale by Gross Waddell ICR and Kay & Burton real estate groups, offering investors a chance to buy into a moment of Victorian history.

The mansion was first built in 1850, originally named Banham House and sat on 3.6ha.

Now occupying 2,203 sqm, the property boasts 19 rooms and 17 car parks across two buildings.

Eildon Mansion was last sold to former deputy Lord Mayor Gary Singer and partner Geoffrey Smith for $10.45m in 2022, but the pair have decided to reallocate their assets.

Eildon Mansion occupies the largest landholding in St Kilda.

According to Kay & Burton agent Peter Kudelka, the mansion holds a range of opportunity for the right buyer.

“Before the current owners, it was used as a language school, the stables at the side of the property were converted into classrooms,” he said.

“There is money to be spent – it would require a permit from the council, but it could be used as anything.”

Expressions of interest closed in October and with the sale process well underway, Mr Kudelka revealed there had been a wide breadth of interest.

“We’ve had people inquiring that had plans for a dance school, ideas for a boutique hotel and even someone who was looking at the mansion for office space,” he said.

“Right now we’re going through the process with those interested and working out the finer details.”

Inside the mansion.

Mr Kudelka said Eildon Mansion was still a residentially zoned property, so the potential for it to be returned to its former glory as a home was not beyond the realm of possibility.

“It’s one of the largest land holdings in St Kilda, it’s sitting on about half an acre,” he said.

“It’s in a great position and is a magnificent building.”

Mr Kudelka said the pricing guide agents had been following put the house in the realm of $11m to $12m.

The home was originally built for prominent Melbourne landowner Edward Green, when St Kilda was just a seaside village.

Eildon Mansion was first built in 1850.

The mansion was purchased in 1869 by John Lang Currie, who added two symmetrical wings and renamed the property Eildon.

Mr Currie’s tomb can be found today at St Kilda Cemetery. 

The property stayed in the Currie family until 1917, when it became a guesthouse for a short time.

It was bought in 1951 by the Ymer family and remained with them for 56 years.