Ballarat mansion believed to sell for $8.5m in secret sale

Ever wondered what an $8.5 million-dollar home looks like? See the pictures of Ballarat’s record-breaking sale after a local family bought this mansion.

Ballarat Residence. Photo: Mel Ryan Photography

A lavish lakeside mansion that would look at home in Noosa may have doubled Ballarat’s house price record in a secret sale.

Ballarat real estate agent and Wendouree Pde resident Ron Morrison said he understood 454 Wendouree Pde had sold off market for about $8.5m to a “Ballarat family that owns quite a successful business”.

The Ballarat Real Estate principal said that if that figure were accurate, it would well and truly be the most cash splashed on a home in the regional city.

Part of the outdoor area at the Ballarat Residence. Photo: Narelle Mann

Outside the Ballarat Residence. Photo: Mel Ryan Photography

It is believed the current owners of No.454, Simon and Debbie Gilbert, sold the property to the prominent Ballarat family via Jellis Craig Ballarat director Tony Douglass.

Mr Douglass confirmed the sale, but could not be reached for further comment.

Mr Morrison described the house as a “spectacular, modern tropical-type home” on a “huge block with a tennis court and pools”.

Paul Clout Design built the mansion, naming it Ballarat Residence.

The Noosa-based firm’s website states that it creates “resort-style homes that reflect the influences from topical Queensland, Asian and South Pacific design”.

The company was also behind a waterfront Gold Coast house that sold for $6.85m last year and a Noosa home snapped up for $10.3m in 2017.

One of the living rooms at the Ballarat Residence. Photo: Narelle Mann

Inside the Ballarat Residence. Photo: Narelle Mann

“Properties in Ballarat are bringing in huge prices,” Mr Morrison said.

“The market has skyrocketed compared to the nearly 40 years I’ve worked in it.

“I always knew this would happen because I’m a believer it’s a great city to live in.”

Mr Morrison said homebuyers relocating from Melbourne and upsizing within Ballarat, along with investors, were driving the market.

“The education and hospital facilities are excellent – Ballarat Clarendon College had the third top [ATAR] results in the state this year,” he said.

“It’s close to the beach and close to Melbourne, there is a limited availability [of houses], and there’s quite a movement away from the big cities.”

An indoor lap pool also features. Photo: Narelle Mann

The Ballarat Residence includes a tennis court in its spectacular outdoor area. Photo: Mel Ryan Photography

CoreLogic records confirmed the top house price for postcode 3350 had belonged to another lakeside residence with seven bedrooms, a tennis court, and an indoor pool: 412 Wendouree Pde, which sold for $4.25m in 2019.

The Ballarat region’s median house price has shot up 20.2 per cent annually to hit $530,000, according to the latest realestate.com.au figures.

The vendors and buyers were contacted for comment.