Property of the week: 1 Edzell Avenue, Toorak

Only four properties on coveted Edzell Avenue reach the Yarra River waterfront, so the arrival of this newly rebuilt residence at number 1 is a prize catch. So rare is the riverfront position, and the unique redesign by Andrew Parr of SJB Architects, that Marshall White Stonnington has listed the Toorak trophy home with a head-turning price guide of $50 million to $55 million.

The prestige property will be firmly placed in the top residential price bracket for Melbourne, but is still far from the giddy heights of the Victorian capital’s benchmark of the $80 million spent by crypto king Ed Craven on his Toorak pile in 2022.

A complete transformation of an original 1920s house, this stately home still holds much of its old world glamour but also showcases the best of what money can buy a century later.

And that cash comes from an owner who knows a little about renovations — title records reveal the period property was bought in 2013 by Sarah Laidlaw, wife of former Mitre 10 boss Mark Laidlaw. After purchasing for $6.1 million, the Laidlaws’ transformation has injected a sophisticated aesthetic complementing its glamorous historic facade.

The river sits centre stage with an uninterrupted outlook from most rooms of the house, as well as the private jetty and rare Melbourne boathouse, capturing Burnley golf course and the city skyline.

Beyond a stately reception hall the living areas have been carefully remastered on a grand scale with a choice of entertaining spaces opening to the great outdoors.

The palatial dining and living rooms have fireplaces and aged–bronze archways framing the river panorama and an expansive north west–facing stone terrace with pergola, barbecue kitchen, heaters and an outdoor fire. A media room and bar also spill out onto the landscaped gardens and for further entertaining the cantilevered heated infinity pool and spa seemingly hover above the Yarra.

In the state-of-the-art kitchen there are Pilbara marble benches, Gaggenau appliances, an integrated Sub-Zero fridge/freezer, wine fridge and a butler’s pantry.

Up the curved marble staircase, or via the private lift, the accommodation level includes three bedrooms with ensuites and built–ins plus a palatial primary suite complete with a gas fire, indulgent dressing room, deluxe marble bathroom and balcony overlooking the water and golfing green.

Down on the lower level, the property also features a gym, temperature-controlled wine cellar and executive home office with and independent street entry.

The rare piece de resistance for the riverside residence is the large river deck with a self-contained timber–lined retreat with kitchenette and ensuite. Below that is a personal boatshed with a slipway, one of only a handful of privately–owned jetties in Toorak.

Additional five star features include Control4 home automation, an alarm with CCTV and a video intercom, as well as hydronic heating, reverse-cycle air-conditioning, ducted vacuuming, full irrigation and a four-car lock up garage.

The Toorak residence is listed through an expressions of interest campaign closing at 1pm on November 11 via Marcus Chiminello, Nicole French and Alan Crawford of Marshall White Stonnington.