This Toorak Mansion Could Break The Victorian Record
Blair House presents itself as a once-in-a-lifetime opportunity.
2 min
Discreet and luxurious, Blair House is unquestionably one of Melbourne’s most significant estates.
Set within approx. 7800sqm of botanic parklands in what is Toorak’s most coveted boulevard comes a solid brick three-storey Georgian Revival pile of 10 bedrooms, 7 bathrooms and 4 car parking.
The home was originally designed in 1836 by architects Hughes and Orme and occupies what once was the grounds of Victoria’s first Government House.
The grounds themselves see the home sit behind a high-walled garden and a row of rare Alnus Glutinosa trees line the drive leading to the home.
The grandeur of the home is met with warm oak flooring, timber panelling, Georgian windows and simple arches that accentuate the home’s refined elegance.
Here, the reception hall at the centre of the home leads to a series of formal and family rooms – each with its own garden outlook. Elsewhere, a drawing room is fitted with a fireplace, as is the sitting room while a stunning garden room all embraces the glorious north-facing hedged garden.
Further, the grand formal dining room (with yet another fireplace) is serviced by a separate kitchen featuring an AGA oven, breakfast room and a butler’s pantry.
Built to entertain, the reception hall flows outwards towards a large terrace with views of the grounds and a sprawling Oak tree.
Upstairs, via a broad staircase sees an abundance of accommodation including three double bedrooms — each with ensuites and robes — and four additional bedrooms, a fourth bathroom and two dressing rooms. Also upstairs is a library area, retreat and a study.
Up a third level and overlooking the garden through dormer windows comes a palatial living room, studio or bedroom, accompanied by a large dressing room and bathroom.
Also on the property is a double-storey converted stable that provides an additional 2/3 bedroom self-contained family or guest accommodation with its own car access from Dalriada Street.
Additionally, the gardens too are split into a series of “rooms”. For example, the north-south lawn tennis court, the Victorian glasshouse, a rose garden and kitchen gardens serve as separate spaces.
This listing is only the second time that “Blair House’ has become available, and such a unique opportunity is unlikely to be seen in Toorak within this lifetime. As such, the price guide for the property is set at a record-breaking $65 million – $70 million.
For more information contact Marshall White’s Marcus Chiminello (+61 411 411 271) or Sonja Sendin (+61 406 811 040); marshallwhite.com.au
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
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Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
