Retail mogul knocks down mansion, hopes to sell land for up to $4m more
Houses on Brighton’s Golden Mile sell for millions, but take away the house and buyers might be willing to pay even more.
Retail mogul and co-founder of Catch Group Hezi Leibovich and his wife Lina bought a Brighton house five years ago for $19.75 million. The same Glyndon Avenue address is now for sale asking $22 million to $24 million, but the house has been knocked down.
Brighton’s median house price has of course risen over that time, up 26.1 per cent in the five years to June on Domain data.
But a submarket of well-heeled buyers with grand designs may place a high value on the unusual opportunity to purchase an empty block and build their dream home.
The 2653-square-metre block five doors from Brighton Beach is listed through Forbes Global Properties’ Robert Fletcher, who declined to comment when contacted by this masthead.
Public records list Hezi and Lina Leibovich as the property’s owners. Hezi and his brother Gabby sold online retailer Catch Group to Wesfarmers in a $230 million deal in 2019.
The Glyndon Avenue house no longer stands.Credit:
The former house was offered for rent in March 2020 for $2750 per week, when it was marketed as an entertainer’s dream mansion set in sprawling gardens with five bedrooms and a study, four bathrooms, four living zones, a large Gaggenau kitchen and teppanyaki grill, games room with wet bar, grand stairway and a garden.
The listing also highlighted the conservatory, marble floors, swimming pool, spa, sauna, upstairs kitchenette and water tank. It was re-advertised in April that year for $2500 and June for $2200.
Bayside Council records show the address was granted a permit for the demolition of the dwelling in 2021 for the purpose of a new dwelling with roof deck and tennis court, at an estimated cost of $13.4 million.
The block is close to amenities such as sought-after schools, shops and restaurants and has permits for a single dwelling by Travis Walton Architecture.
Elsewhere, Toorak’s prestige market has another top-end offering: the Bursztyn family’s Hopetoun Road home, owned since the 1980s.
Set on an oversized block of about 6000 square metres, the five-bedroom mid-century American-style house is asking $58.5 million to $64 million.
Agents on the listing are Forbes’ Mike Gibson with Rob Fletcher and Tracy Tian Belcher. Gibson said it was a “pretty special” house that was likely among the 10 largest blocks in Toorak.
The new owner may wish to renovate or rebuild, he said.
“Hopetoun is one of those key addresses in Melbourne,” he said. “I expect it to be keenly sought after.”
He thought that global geopolitical uncertainty would be little deterrent to potential buyers considering a significant investment.
“People will continue to see Australia as being a safe haven, and more and more attractive as time goes on.”
It comes after the aged care entrepreneurs Peter and Areti Arvanitis listed their Toorak home for $50 million to $55 million, and the Myer family’s Cranlana hit listings websites with a price guide of $96 million to $105 million.
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