South Melbourne penthouse escape on market for $6m

Victorian retirees Ross and Jenny Venuto have listed their Tim Gurner-developed penthouse in South Melbourne with price expectations of $5.5m to $6m.

Ross and Jenny Venuto’s Melbourne city view.

Victorian retirees Ross and Jenny Venuto have listed their Tim Gurner-developed penthouse in South Melbourne with price expectations of $5.5m to $6m. The Venutos, who relocated from suburban Beaumaris, paid $3.9m off the plan for the penthouse at 74 Eastern Road in 2016. They were attracted by design elements of the penthouse which included interiors by David Hicks. Completed in 2018, the 545sq m penthouse includes a large landscaped outdoor area with an 8.5m private rooftop swimming pool. About $100,000 worth of Italian marble was used throughout the penthouse, which has four carparks. Mr Gurner said: “For me it is all about that incredible window line where you can stand at one end of the penthouse and see all the way down the 50m length to the other end of the penthouse, something that truly cannot be replicated.’’ Expressions of interest close on December 15 through Michael Paproth of The Agency. “ We are fielding interest from a wide pool of buyers that include many who are relocating to southeast Queensland, the Mornington Peninsula and west coast and looking for a city base in Melbourne, as well as the luxury downsizer market,” Paproth said.

Mosman views

The founder of the collapsed iProsperity Group, Michael Gu’s Sydney mansion in Superba Parade, Mosman, sold ahead of its auction last week for $12m. The four-bedroom and four-bathroom property was at one stage covered in Chinese language graffiti after the collapse of Mr Gu’s iProsperity group. Mr Gu came to national prominence last year when he pledged to pay $220m for a portfolio of 17 Accor-branded hotels on the eastern seaboard. The deal floundered and Mr Gu’s iProsperity is now in administration. This week local hotelier Sam Arnaout purchased the same property at a hefty discount for $180m. Meanwhile, the selling agent of Superba Parade, Belle Property Principal Tim Foote, said he was expecting about $10m for the mansion, which was sold by the mortgagee Credit Suisse. It was purchased by a private family from within the area. Nearby Mr Foote is marketing 7 Milson Road, Cremorne Point, which like the Superba Parade property, has gun-barrel water views. About $9m is expected for the property at its auction on December 5.

South Yarra prize

One of South Yarra’s most prestigious residences has been quietly listed through Jock Langley of Abercrombys. The two apartments on Domain Road were built by the Henty family and were once owned by the prominent grazing and political family, the Falkiners of FS Falkiner and Sons. The opportunity to restore one of Melbourne’s most prized residential assets exists due to the vendors having the foresight to acquire the two apartments, which they are now offering as one, according to Langley. Expressions of interest close December 10 with suggestions the apartments on 1400sq m of land could fetch $25m. The vendors are downsizing.