Toorak mansion where Melbourne’s first million-dollar home sold hits the market for $25m
A mansion that replaced the first Melbourne home to sell above $1m has returned to the market. See how much it’s selling for now.
A Toorak mansion built on the site of Melbourne’s first million-dollar house has returned to the market.
The five-bedroom estate on the illustrious St Georges Rd has been listed with a lofty $24m-$25m price tag – a notable $5m more than its last sale of about $20m in 2021.
It was then owned by late Melbourne businessman and rich lister Spiros Stamoulis’ wife, Helen Stamoulis, who spent eight months during the pandemic trying to offload the 1457sq m property.
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The 20 St Georges Rd block was also famously sold in 1981 by former Lord Mayor of Melbourne Sir Maurice Nathan to a luxury car dealer who paid $1.01m for the property, making it the first Melbourne house to sell for more than $1m.
That house was later demolished and the land was subdivided in 1983, before two new houses – including the one now for sale – were built, both with tennis courts.
Ms Stamoulis purchased the home after her husband died in 2007 for $6.01m, and completed significant upgrades including the addition of a four-car basement garage and extra living room.
The lavish property also features landscaped gardens by renowned architect Jack Merlo, plus a swimming pool and internal lift.
Toorak’s St Georges Rd is famed for being one of Melbourne’s most coveted blue chip residential streets, where a range of high-end sales above $20m have occurred – including an unfinished mansion at No. 29-31 which traded for a whopping $80m in 2022, setting a new house price benchmark for the state.
Marshall White Stonnington director Marcus Chiminello has been contacted for comment.
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emily.holgate@news.com.au
Originally published as Toorak mansion where Melbourne’s first million-dollar home sold hits the market for $25m