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New record house price for Melbourne?

29 Sep 2014 - http://news.domain.com.au/domain/real-estate-news/new-record-house-price-for-melbourne-20140926-10mtx9.html

 The sneaky sale of a lavish Toorak mansion with a $25 million asking PRICE is likely to have nudged the Melbourne residential property price RECORD.

Mining SPECULATOR Socrates Vasiliades took six years to build the behemoth 22-room home, covering a whopping 2100 square metres, at 3 Towers Road.

The decadent six-bedroom house, set amid sprawling, manicured gardens, has sat vacant and for sale on one of Toorak's premier streets for about three years.

But a buyer with extremely deep pockets eventually, and quietly, came forward, beneath the noses of most of the real estate industry.

Public land titles obtained BY DOMAIN show a caveat was placed on the opulent estate on July 29 this year by Melbourne legal firm Hentys Lawyers, on behalf of the buyer, Sarah Lew.

The grounds for the caveat is given as a PURCHASER'S contract.

The Melbourne real estate price record stands at the $24 million paid in 2010 by Harry Stamoulis for the former Baillieu family estate in St Georges Road, Toorak, which he knocked down to build a rumoured $30 million mansion.

The highest recorded Victorian sale is the estimated $26 million for the grand Portsea cliff-top estate Ilyuka, also in 2010.

Towers Road is known as one of Toorak's most expensive and tightly held streets, made up of a clutch of just seven enormous properties.

The above is an extract from the article at: http://news.domain.com.au/domain/real-estate-news/new-record-house-price-for-melbourne-20140926-10mtx9.html (Emily Power, 2014)

Michelle Wang

Four C Realty