The $50m grand Melbourne home that could soon be knocked down

A grand home worth about $50 million on one of Melbourne’s most sought-after streets could soon be replaced with a new residence or a luxury apartment development.

The seven-bedroom home at 6 St Georges Road, Toorak has been offered for sale for the first time in 50 years with a price guide of $45.5 million to $50 million.

Set on an oversized block of 3509 square metres, the 1920s Mediterranean revival style house has nine bathrooms and parking for seven cars.

There is a granite kitchen with butler’s pantry, formal and informal living spaces, botanic gardens, a Hollywood Hills-style swimming pool, a studio space next to the garage and an extra building with capacity to host guests.

The home is the deceased estate of Zofia Kipen, whose husband was the late Symcha (Sam) Kipen, brother of Israel Kipen, co-founder of Mount Scopus Memorial College, Australia’s first Jewish day school.

Agents on the listing are Antoinette Nido, managing director for Stonnington at Melbourne Sotheby’s International Realty, and Max Ruttner.

The St Georges Road home is asking $45.5m to $50m.Credit: Melbourne Sotheby’s International Realty

“It is one of the most generational and landmark opportunities to hit the market for some time,” Nido said, highlighting its corner position on coveted St Georges Road.

She said the home is very liveable for a family as is or could be renovated, but since it has no heritage restrictions, it would also suit a buyer who wanted to start again on the site to create their dream home or a multi-residential development.

“We are expecting strong interest from both local and international buyers looking to create a generational single estate as well as develop a significant prestige project, and I think the landholding does provide unrivalled potential,” she said.

She declined to comment on the vendor.

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