Rupert Murdoch’s Nephew Puts A Price On Landmark Melbourne Estate

Real Estate

A member of one of Australia’s most notable families is listing one of Melbourne’s most notable homes.

Theater director Michael Kantor—nephew to media-mogul Rupert Murdoch—along with his wife, Silvia, are putting their Italianate mansion, known as Namarong, on the market with a price expectation of between AUD 22 million and 24 million—about US $15.4 million to $16.8 million.

Completed in 1868 for a wealthy shipping merchant who selected the home’s hillside position in order to watch the comings and goings of his ships in Port Phillip Bay, the landmark estate was at one time owned by the Catholic Church.

According to the Sydney Morning Herald, the six-bedroom home was then purchased by former managing director of Toll Holdings, Paul Little, who eventually sold it to art dealer Rod Menzies for AUD 3.425 million (about US $2.4 million) in 2000.

Finally, the 3,370-square-meter property came under the ownership of the Kantors, who paid AUD 9 million (US $6.3 million) back in 2008. During their 14-year tenure, the Kantors implemented sweeping updates, including a two-year estate renovation led by the Victorian-based design firm Kennedy Nolan.

Located in the inner suburb of Armadale, adjacent to the renowned Toorak neighborhood, the Victorian-era estate is fronted by a gated, sprawling forecourt.

The home’s palatial exterior, with ornate corbels and cornices, a gently-sloped roof and an ivy-coated facade, preserves the traditional elegance.

Inside, modern touches bring this 19th-century mansion into the present including minimalist black metal-framed windows, a vibrant orange carpeted stairway and sleek cabinetry.

Classical elements, however, remain prominent throughout, such as elaborate molding, interior columns and an array of French doors.

Covering two stories, the floor-plan features multiple living spaces, a library and a cellar as well as an intimate reading nook, courtyard and a theater.

Exterior highlights include a rounded terrace overlooking the estate’s manicured grounds, a swimming pool and an impressive tennis court.

The high price expectation attached to the Armadale listing points to a recent increase in “new money” purchases in Melbourne’s luxury housing market, said Michael Gibson of Private Properties Global, who along with Robert Fletcher and Ken Jacobs, hold the listing.

“New wealth created from the technology sector has come to the fore in the Melbourne prestige housing market,” Gibson recently told The Australian Financial Review.

While sales above AUD 20 million (US $14 million) were a rarity just two years ago in Melbourne, a number of big-ticket deals closed last year, including an AUD 43 million (US $30 million) Toorak trophy home purchased by Chemical Warehouse owner Sam Gance.

Private Properties Global is an exclusive member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.

Articles You May Like

Suze Orman has a warning for those who want to quit in the Great Resignation
Average credit card interest rates have topped 20%. Here’s how to pay down that debt fast
Anti-abortion states split on how to enforce ban, whether to prosecute or surveil doctors
Gimmicky Giveaways Will Only Make Inflation Worse
Consumer watchdog eyes crackdown on credit card late fees as inflation threatens to increase them

Leave a Reply

Your email address will not be published.