A Toorak trophy home that could do with a renovation has hit the market with a hefty $16-$17 million price tag.
The 1925-built mansion at 9 Yar Orrong Rd is one of the priciest properties to be publicly offered for sale in Melbourne’s most expensive suburb this year, and is up for grabs for the first time since 1994.
CoreLogic records show it fetched $2.42 million then.
“It’s the land component that will set it aside from others,” Kay & Burton managing director Michael Gibson said.
“It’s on 2150sq m, with beautiful gardens, a tennis court and a pool.”
Mr Gibson said the owners did “a lot” of work to the Yar Orrong Rd property when they first took it over 25 years ago, and had maintained it “exquisitely” since.
But he said the mansion could do with another update now, giving a buyer an opportunity to put their own spin on it.
The house offers multiple living spaces and six to seven bedrooms — three with their own ensuites — across two storeys.
A marble entrance foyer offers a fine introduction to the interior, which is characterised by elegant cornices, open fireplaces and large windows.
Mr Gibson expected the home’s grand proportions to be popular with buyers, along with its position on a tightly-held street near Albany and Toorak Rds, Kooyong Village, leading private schools, and transport links.
He said houses didn’t often come up for sale on Yar Orrong Rd, with generational change the main driver.
“People tend to get in there with young families, raise their kids, and then move on,” he said.
Mr Gibson sold another Yar Orrong Rd mansion on a sprawling 2110sq m block at No. 7 late last year for $15.5 million.
PRICEY PADS ON THE MARKET IN TOORAK
12 Lansell Rd: $23-$25 million
9 Yar Orrong Rd: $16-$17 million
29 Balmerino Ave: $12-$13.2 million
19 Albany Rd: $11.5-$12.75 million
28 Irving Rd: $11.5-$12.5 million
8 Barnard Rd: $11.995 million
60 Clendon Rd: $10-$11 million
3 Torresdale Rd: $10.5 million