$30m Portsea mansion that took 15 years to build could challenge suburb’s price record
A palatial cliffside palace is set to make a massive splash on the Mornington Peninsula property market, and challenge the area’s house price record. SEE INSIDE
A palatial cliffside Portsea mansion that took about 15 years to build is set to make a massive splash with its $30m price tag.
The three-level, six-bedroom house features an elevated infinity pool, cinema, lift, two kitchens and two double garages.
Listing agent RT Edgar director Warwick Anderson declined to comment on the owner, but public records show the jaw-dropping home belongs to Denise Spencer.
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Ms Spencer is the wife of the man credited with bringing mortgage broking to Australia — mortgage, technology and asset management company Stargate Corporation Group executive chairman Vernon Spencer, who founded the company in 1972.
Two decades later, he established the non-bank wholesale loan financier Interstar Securities, that was later acquired by Challenger Financial Services for $85m.
The high-flying businessman is reportedly a big fan of the Star Wars and Star Trek franchises, and once hosted an Interstar event where guests were entertained by dancing Darth Vaders.
Mr Anderson said the mansion’s owners were selling now their children had grown up. Building the mammoth home out of preformed concrete took 15 or so years to complete,
with construction materials trucked in – and craned onto – the 1700 sq m block, he added.
Some small remaining items, including a fence around the pool, are yet to be finished.
A nearby Shelley Beach boatshed and deepwater boat mooring in front of the 1700sq m property are included in the sale.
Records show the Spencers purchased the Portsea address for $6.7m in 2002.
If the house they built on the site sells for $30m, it will equal the seaside town’s current $30m house price record set by a Point Nepean Rd mansion in 2022.
Mr Anderson described the house as having “extraordinary” views across the bay, taking in
Queenscliff, Arthurs Seat, Dromana and Melbourne.
“It’s like being on the bridge of a ship,” he said.
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Originally published as $30m Portsea mansion that took 15 years to build could challenge suburb’s price record
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