Former Foster’s chief Peter Bartels lists his sub-penthouse in the Marquise Residences

Former Foster’s Group chief Peter Bartels has listed his sub-penthouse in the Marquise Residences, one of the exclusive so-called towers of power in Melbourne.

The former Foster's Group chief Peter Bartels has listed his Marquise Residences, Melbourne sub-penthouse.

The former Foster’s Group chief, Peter Bartels has listed his sub-penthouse in the Marquise Residences, one of the exclusive so-called towers of power on St Kilda Road, Melbourne.

His whole-floor 462sq m luxury home at 635 St Kilda Road comes with a $4.5m to $4.8m price guide.

Bartels led Foster’s Group from 1985 to 1992, overseeing its transformation into a global powerhouse, then becoming CEO of Coles Myer from 1992 to 1996.

The listing highlights a changing of the guard as Bartels joins other corporate titans downsizing from the popular boulevard.

Hudson Conway founder and racehorse owner Lloyd Williams has $20m to $22m hopes for his split level penthouse in the nearby Domain complex.

The Marquise Residences, Melbourne.

Late last year the Domain apartment of the late Melbourne corporate titan, Sir Rod Carnegie, who established McKinsey & Co in Australia in the 1960s, was listed in one of the first high-rise residential buildings developed on the strip in the mid-1990s.

The Bartels residence, with interiors by John Coote, has views stretching from the CBD and Port Phillip Bay to the Dandenongs.

The four-bedroom floorplan comes with a fully fitted study. There are wintergardens at opposite ends of the residence in the building which takes it name due its Marquise diamond shape.

Kay & Burton are taking offers until April 15.

The 84-year-old Bartels and his late wife Marilyn, who died in 2021, bought the 16th floor apartment from the developer for $2.55m in 2002.

Cyclone hits auctions

It was a subdued weekend for auctions across the nation with some states affected by the cyclone activity and four capital cities having a long weekend.

The Ray White Group saw only 244 auctions proceed on Saturday, as all of its auctions in southeast Queensland and northern NSW were cancelled as the threat of the cyclone loomed large all week.

Of the auctions that did proceed, Ray White cleared 67 per cent under the hammer with an average of three registered bidders.

CoreLogic’s Tim Lawless noted the national preliminary auction rate continued to fade, reducing to 69.6 per cent across the combined capitals.

It marked the second week running where the preliminary clearance rate has come in below the 70 per cent mark having kicked off the selling season at 70 per cent-plus.

The lower early clearance rate came alongside a reduction in volume with 1629 auctions held, down from 2749 the week prior.

Sydney leads way

Sydney hosted the most auctions last week, with 871 homes going under the hammer. Based on results collected so far, 70.7 per cent found buyers. It was however the lowest preliminary clearance rate in five weeks.

The knockdown home at 6 Poolman Street, Abbotsford was the top notified under the hammer weekend result. Picture - Supplied

Sydney had the nation’s top notified result when a modest three-bedroom house in Abbotsford fetched $5.4m, $900,000 above reserve through local agent Joe Kanaan.

Listed for the first time in seven decades, some 10 parties registered to bid for the 690 sqm Poolman Street offering after 75 contracts had been issued.

The house is close to the river but has no water views.

Set a few blocks from the Parramatta River, but offering no water views, the bidding opened at $4m which then saw four active bidders. It sold to a duplex developer,

No takers

The nation’s priciest listing, the Old Hat Factory residential warehouse conversion in Paddington was passed in on a $13.5m vendor bid.

The Agency had listed the home of Naomi Tosic, founder of the boutique co-working business The Office Space, with $13m to $14m price guidance.

A $13.5m vendor bid concluded the onsite auction of 2 Church Street, Paddington. Picture - Supplied

Her late husband, master craftsman Boris Tosic from Elan Construct, a residential and commercial interiors business, undertook the four-year project with oversight from Domenic Alvaro, of architects Woods Bagot.

There are five bedrooms and four bathrooms across the four floors of the 393sq m holding.

Tosic bought the 1892 Church St brick warehouse for $2.5m in 2011.

Renowned artist Margaret Olley, who died in 2011 aged 88, was a longtime owner after its $67,000 purchase in 1979.

Dinnigan cashes out

Designer Collette Dinnigan sold her Paddington warehouse on auction eve, ahead of its scheduled weekend auction.

The 360sq m Caledonia St property was listed as suitable for residential conversion, with its guidance advised as $9m to $10m by Ben Collier, at The Agency.

The 288sq m internal space is currently configured as a reception, showroom and office space for The Mint Partners, the creative communications agency founded by Genevieve Taubman.

It is leased until May 31 at $231,189 a year plus GST.

It was bought in her fashion industry heyday, in 2003, for $2.4m from businessmen Neville Miles and Simon Tripp.

Lazy weekend

With the Labour Day long weekend underway, only 496 homes were taken to auction in Melbourne, down from 1376 the week prior.

Some 70.5 per cent of auctions were reported as sold, in line with the prior week’s preliminary result of 70.3 per cent, which revised to 62.8 per cent on final numbers.

Only 82 auctions were held in Brisbane, down from the scheduled number of 148, with many auctions being rescheduled until after the storm damage is assessed.

Big listings pushed back to this weekend include 77 Palm Avenue, Ascot, the 2023 built home with interiors by K co Design.

“Considering the weather conditions, the 57.6 per cent preliminary clearance rate was a strong result, up from 53 per cent the week prior,” Tim Lawless noted.

Only 12 auctions were held in Perth and one in Tasmania.

There were 62 auctions held in the ACT with a 75 per cent preliminary clearance rate, the highest since last June.

It was the best performing capital city.

Its results included 72 Arthur Circle, Forrest, which fetched $3,255,000.

There were 105 auctions held in Adelaide, with 61.3 per cent reported as sold which was the lowest rate since November 2022.

The 2015 custom-built reproduction villa at 5 Park Avenue, Rosslyn Park was the top price, when selling prior to auction at $2.91m through Eric Jem at Belle Property. The house had a 512sq m floor plan on its 827 sqm holding.

Adelaide's top sale came pre-auction when 5 Park Avenue, Rosslyn Park fetched $2.91m .Picture - Supplied

Under the hammer Adelaide results included 2A Smith Street, Walkerville for $1.850m. The four bedroom home on 503 sqm was built in 2023 by custom builder Desyn Homes.

Forecast fall

PropTrack calculate Melbourne will see 1266 auctions this week, down 20 per cent year-on-year.

Sydney will see 1041 auctions this week, remaining flat year-on-year.

There’s already been the $12,915,000 pre-sale of the grand Prince Albert Street, Mosman, residence listed with a $13m guide by the Kinghorn family.

It last sold in 2009 for $6m.