"And it looks dreadful.". However, one buyers' advocate who deals with high-end property said the owner would be lucky to get anywhere near that. Bought for $18.5 million in 2013, the former landmark 1913 estate at 16 St Georges Road is now chock full of weeds and surrounded by security fencing.
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It's the latest in a string of property deals for the landscape designer who purchased his first property at the age of 17 when he was in Year 12.
Jack Merlo, a designer on the team of Australia's first gold medal-winning garden at London's Royal Chelsea Flower Show, has pulled off another feat by selling a 1285sq m Toorak property for more than double the $10 million he paid for it four years ago. A 4200sq m block of land at 16 St Georges Road in Toorak, which has been for sale quietly for the past year, is coming to market shortly with a campaign owner Xiaoyan "Kylie" Bao …
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Australia's top 10 mortgage deferral hotspots revealed, NSW goes five days with no community transmission, Australian music icon Helen Reddy dies at 78. "It's a mystery," he said. Owner Xiaoyan "Kylie" Bao put the property on the market last year with a $40 million plus price guide after plans to build a grand $18 million home were shelved. However, one buyers' advocate who deals with high-end property said the owner would be lucky to get anywhere near that.
Prior to purchasing 8 Ottawa Road, Mr Merlo sold for $8.75 million a house he renovated at 20 Kent Court in Toorak, having purchased it in 2011 for $2.37 million.
Toorak Village Residents Action Group president Eddie Young said the neighbours were waiting to see what would happen with the properties.
Sign up to our new weekly Inside Property newsletter, Help using this website - Accessibility statement, Star casino CEO joins the groovers of Newtown for a record $5.8m, Mortgage deferrals loom large in pandemic-hit Melbourne, Tech entrepreneur splurges $40m on property in four months, Profit, not debt, the real challenge: Rich Lister Hallinan, Non-banks drive surge in real estate funding liquidity, The property CEO happy for his people to work from home, Commercial investment halves as investors shun retail, Institutional capital says smaller is beautiful for malls in pandemic, How corporate Australia clawed back its power in 2020, The 10 most powerful people in Australian business in 2020. Landscape designer Jack Merlo has reaped a tidy profit on a Toorak property. A controversial block in Melbourne’s blue ribbon suburb of Toorak is up for sale with an eye-watering price tag of $40 million. He sold it a year later for $230,000, The Age reported in 2005. The Idylewilde mansion was destroyed in 2015.Credit:Eddie Jim.
The sale price of about $25 million includes a $4.5 million house Mr Merlo completed last year on the 8 Ottawa Road block. There is no sign of tradies next door either, since the Idylwilde mansion was controversially torn down in 2015, prompting an outcry in the community over lost heritage.
A controversial block in Melbourne’s blue ribbon suburb of Toorak is up for sale with an eye-watering price tag of $40 million. Since then he has bought, renovated and sold a number of homes including a converted warehouse in Richmond, a Victorian terrace house in South Yarra and a house in Armadale. Ms Bao demolished the home of former owner Peter Devitt after buying the property in 2013 for $18.5 million.
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