A grand Canterbury estate is poised to become one of Victoria’s most expensive homes, with a mammoth sales campaign about to launch.
The sprawling Shrublands, at 16 Balwyn Rd, is about to hit the market with an eye-watering $42-$46 million price guide — just a few million shy of the state record.
Abercromby’s director Jock Langley said the 42-room property on a huge 6500sq m block was “as good as Melbourne gets”.
He compared the Italianate estate to Malvern’s Stonington mansion, which set the city and state’s residential price record when it sold for about $52.5 million in 2017.
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“We’ve been chatting about listing it for a little while, but not for long to the broader market,” Mr Langley said.
“There have been a lot of recent sales between $20 million and $30 million but there hasn’t been anything of this scale for a long time.”
The vendors, the Williams family, paid $3.6 million for Shrublands and $2 million for the property next door, now included in the estate, nearly 20 years ago.
They have since poured more than $10 million into restoring the 1860s estate.
“It’s got a very interesting history and the vendors had a passion to recreate it back into what it once was,” Mr Langley said.
“It’s a house that blends the old with the new very well and they’ve added a huge contemporary wing to it.”
Large entertainment spaces, an indoor pool, modern kitchen and a tennis court are among the highlights.
Gold-leaf finishes were reproduced inside by specialist painters, and tradesmen who descended from the original property’s plasterers were employed during the restoration process.
Heritage Victoria documents show the original mansion, which included the existing bluestone cellar, was surrounded by vineyards when it was first built. It later became St John’s Home for Boys run by the Church of England.
Shrublands was sold to developers in 2002, who had planned to build townhouses and apartments on the block. After local residents opposed the proposal, the estate was sold to the vendors, who have decided it is time to downsize.
Mr Langley said while the property was off limits to developers, it could suit a commercial hospitality business or a government embassy.
It could also change hands to a “very wealthy” family.
A sale within the price guide would make the mansion one of state’s most expensive homes.
A mansion at 18-20 Shakespeare Grove in Hawthorn is the only other property on the market that competes, with a $45 million asking price.
The expressions of interest campaign mansion with Abercromby’s Real Estate in conjunction RT Edgar is expected to run until mid-March.
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Originally published as Shrublands: Canterbury estate for sale with $42-$46 million price tag
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