Toorak behemoths resume battle for possible record price crown as 3 Towers Road relisted
Socrates Vasiliades, the international commodities trader, has relisted his house at 3 Towers Road, Toorak.
With 22 rooms, a lift, home theatre, gym, pool, basement parking and well-kept gardens, it came with record-setting $30 million hopes last May.
Kay & Burton agent Ross Savas Savas advised several months later that he’d received two $25 million offers but Vasiliades was holding out for the full amount for the 2,140-square-metre property. It was then withdrawn from marketing until this week.
No new price indication has yet accompanied the latest marketing campaign, which began this week.
Vasiliades, who had had tradespeople flown in from around the world to work on the house during its six-year construction, now gives his address as London. The property was bought by his wife, Celeste, in 2002 for $4.6 million from Peter Thomas.
Vasiliades has been the chief executive of Core Mining since its 2003 establishment. The iron ore explorer is backed by Glencore International Plc and has Russian steelmaker OAO Severstal as an investor. He has over 23 years’ experience in the steel industry and prior to forming Core Mining he traded steel and bulk raw materials worldwide.
The Victorian price record remains with the 2010 Portsea sale of Ilyuka for $26 million.
One Towers Road, Toorak (pictured above), owned by former JPMorgan Australia chairman Brian Watson, remains listed for sale.
Set on 3,900 square metres, the six-bedroom house was once owned by businessman John Elliott.
Its Kay & Burton listing agent Michael Gibson expected the house to attract more than $26 million when it was listed last October.
The empty-nester Watson family bought the Toorak property in 2001 for $11.1 million, a then record-setting price.
Toorak’s highest-priced sale was the reported $24 million sale in 2010 of the former Baillieu family estate on St Georges Road, Toorak when bought by soft-drink magnate Harry Stamoulis.
It was bought from the Inge family, which own the aged-healthcare and property development company Zig Inge Group.
The Inge family had paid $14.8 million for the St Georges Road property in February 2009. The seven-bedroom Federation house had been the home of Diana Baillieu, mother of Victorian Premier Ted Baillieu, until she died aged 93 in 2008.
Building will start this month in Melbourne's blue-chip suburb of Toorak on one of the state's largest and most expensive new homes.
Building was scheduled to start last month one the replacement Stamoulis house to a design by Bruce Henderson.
''The project could be considered one of the largest commissioned single residential projects in recent Victorian history,'' Wayne Krongold from builders Krongold Constructions told The Age.
