Last August, an $80 million sale in Melbourne’s most expensive suburb reset records. Now, buyers agent and Toorak tour guide, David Morrell, says $100 million is in reach.
When asked whether the $80 million benchmark could soon be pipped, Morrell goes one better.“It will. There’s one that’s probably, but I can’t talk about it because we’re in play, but there’s one that might go to the $100 [million],” says Morrell, adding “but there are houses worth more than that, but they won’t ever come on the market.”“We are quietly confident in the next three to six months a $100 million sale will occur in our marketplace.
Next, Morrell turns onto what he believes is Toorak’s best street. “You start here – this is the who’s who of Melbourne. That’s Lindsay Fox. This is real Toorak, Albany Road,” says Morrell. “There are names attached to all these places,” he adds, pointing out the late Ron Walker’s home. Back on Albany, the shingle-roofed, ochre facade of Little Milton emerges. The 1926-built family estate with championship tennis court on 2476 square metres was recently sold by Publicity Press’ Ross and Gina Copeland for between $27 million and$29 million.Forbes Global Properties
Morrell believes the difference between Melbourne prestige real estate and age-old rival Sydney is simply a reflection of the elite’s divergent values. Heading west, Morrell crosses Williams Road to enter South Yarra, or postcode 3141. Turning off Domain Road onto Anderson Street, he slows the car to let an elderly woman with silver bob and headband cross the road with a walking frame.
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