Inside Melbourne’s first $100 million home
A luxurious mansion linked to one of Australia’s most influential families has hit the market with the potential to break property records.
The Myer family’s historic Cranlana estate, in Melbourne’s exclusive suburb of Toorak, was listed for sale on Wednesday with a price estimate of $96 million to $105 million.
A sale in the guide would break Melbourne’s current price record of $80 million, set just a kilometer away in 2022 by crypto-gambling billionaire Edward Craven.
While Mr Craven plans to demolish the property for a $145 million rebuild, Cranlana is on the Victorian Heritage Register for its historical significance.
The eight-bedroom house sits on a 11,000 sq ft plot of land, bordered by a stone wall and Italian iron gates on Clendon Road.
The grandiose sunken garden was designed by architect Aarold Desbrowe Annear – his only known garden – and one of the few remaining in the suburb. The era reported.
Heritage Council Victoria notes that the garden was influenced by Myer’s founder, Sidney Myer, who extensively renovated the property after purchasing it in 1921.
He lived in the house until his death in 1934. His widow, Dame Merlyn, lived there for another 48 years until she died in 1982 and it was then transferred to Myer Family Investment.
The historic Myer family home in Toorak (pictured) is for sale for the first time in more than a century and has an estimated value of more than $100 million
The eight-bedroom house was built in 1903 but redesigned by Myer’s founder, Sidney Myer, after he bought it in 1921
The property listing describes the garden as ‘completely private, extremely tranquil and filled with rare and ancient trees and plants, it is a botanical wonder’.
“Behind a 100-year-old wisteria ‘hedge’ is the north-south modern grass tennis court and the picturesque swimming pool with pool house,” the advertisement said.
‘Numerous outbuildings, including a self-contained cottage, former stables, a potting shed, workshop, gardener’s headquarters and a triple garage, are located to the rear of the main residence and are accessed via a second driveway.’
The property has since been used by the Myer family for Cranlana Center for Ethical Leadership programs and philanthropic events.
“Cranlana has been an important and cherished home where many generations of our family have gathered,” Myer Family Investments chairman and grandson of Myer founder Sidney Myer told Domain last month.
It features a unique garden (pictured) designed by architect Aarold Desbrowe Annear, which contributed to the house being placed on the Victorian Heritage List.
It also features utility rooms, prep areas and multi-oven kitchens for avid entertainers
‘Indeed, Cranlana is of significant cultural and historical significance in Victoria in its own right.
‘With over 100 years of family ownership and with our fifth generation expanding, the time has come to hand over the keys to our house and beautiful garden to a new owner and custodian.’
In addition to the historic gardens, the house also features a marble foyer, library, reception, morning and drawing rooms, a formal drawing room and a ballroom.
It also has the ability to entertain a number of people with utility rooms, prep areas and multi-oven kitchens.
The eight bedrooms also include a master bedroom, a guest bedroom and two self-contained one-bedroom apartments on site.
Marshall White director Marcus Chiminello has been appointed to sell the property via expressions of interest.
“Cranlana is second to none in the Victorian property market,” Chiminello told Domain.
“These types of unique opportunities often create their own market, and we expect interest from buyers locally, nationally and from afar who will be excited about the opportunity to become Cranlana’s new custodian.”
