Will Developer Cause New Stir?

The Sunday Age

Sunday February 10, 2008

Marc Pallisco

STONNINGTON City Council is preparing itself for a fight after it was revealed that the mystery buyer who forked out about $8.4 million for the 108-year-old Coomaroo mansion in Albany Road late last year was none other than the property's next-door neighbour, developer Len Warson.

Mr Warson, CEO of Glenvill Homes, caused a stir in 1998 when he demolished the Lisieux mansion to build a new mansion next door to Coomaroo. The demolition was one of several under way at the time, and raised tensions in Toorak's blue-ribbon heartland.

The usually private Paula Fox, wife of trucking magnate Lindsay, said Albany Road and the streets around it were losing their character and charm with each demolition. Other homes to be demolished at the time were Southdean on Irving Road and 1 Whernside Avenue, across the road from Solomon Lew.

Fast forward 10 years and it could be on again in Albany Road. Agents are divided about whether Warson will demolish one or both houses to build a new Glenvill-designed mega-mansion. Mr Warson was unavailable for comment.

Leaving Malvern

ANOTHER developer known for building the odd Toorak mega-mansion is Glenneagles director Glenn Eagles and his wife Jennifer.

The couple last week listed for sale their luxury Malvern mansion at 1 Lawnhill Road. They will relocate to Armadale after paying a speculated $3.1 million for an unrenovated home in ultra-ritzy Adelaide Street late last year.

All rooms in the double-storey four-bedroom Malvern home - the last house designed by award-winning architect Wayne Gillespie - overlook a north-facing courtyard, and every bedroom has access to the large balcony. The home includes heated parquetry flooring, limestone bathrooms and a Calcutta marble kitchen. Marshall White Armadale sales agent Marcus Chiminello is auctioning the property at 12.30pm on Saturday, March 1. He wouldn't confirm a sale price but said early interest had been in the $2 million to $2.5 million vicinity.

Coburg cultivation

PLANS to give Coburg a 21st-century makeover will now be announced in March, after Moreland City Council extended a deadline for developers to tender on the estimated $1 billion suburb revitalisation.

Launched by Planning Minister Justin Madden (pictured below) in October last year, the Coburg Initiative tender will give a developer access to 12 hectares of council and State Government-owned land in and around the evolving Sydney Road retail strip. Mr Madden described it as the biggest civic overhaul in the suburb's history.

Developers have been invited to pitch ideas on how they can provide more than 3000 new dwellings, largely in the way of apartments, as well as offices and retail amenity to the inner-northern suburb.

A spokeswoman for the Moreland City Council said response to the plan had been strong.

Sky high

WITH the prestige residential market having experienced its biggest boom since the late 1980s, surely South Yarra's troubled Saint Cloud mansion should be receiving offers close to the $10 million the vendor - business identity Peter Clark - was after when he listed it for sale almost three years ago.

The 100-square, six-bedroom semi-circular mansion occupies one of the biggest blocks in South Yarra, and has views over the river to the CBD. The estate includes a long, tree-lined driveway, tennis court, pool, spa, sauna and five-car garage.

The problem, local agents speculate, as to why the home has languished on the market is its location at the end of Kensington Road, which can only be reached via busy Toorak Road.

"Once you're in Kensington Road, you need to drive by 30 blocks of flats to get to it," said one agent, who wished to remain anonymous.

"And we're not talking art deco, or boutique blocks of flats with character . . . we're talking 1970s eyesores . . . not what you usually associate with South Yarra."

Given demand for apartments in the area, speculation has grown this year that Saint Cloud might arouse more interest as a development site, sharing similarities with the larger Copelen apartment complex Becton developed a few streets away in 1995.

Abercromby director Jock Langley, who is marketing the property with RT Edgar, failed to return calls on the matter.

CONTACT US

Sunday Domain

Miranda Tay, editor

mtay@theage.com.au

Editorial: 9601 3093

Advertising: 9601 2000

Secret Agent: marcpallisco@gmail.com

© 2008 The Sunday Age

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