Portsea

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The clifftop Rovina estate is the season's top Portsea property offering, but just $8 million-plus is the price guidance for the trophy home.
Overlooking Portsea pier and Weeroona Bay, it was built in the early 1960's utilising materials, including columns, from some of Melbourne's most magnificent buildings from the last century.
The five bedroom home has a Mediterranean villa influence interpreted by society architect Geoffrey Sommers, who had his home home on London Bridge Road, near the backbeach.
The eclectic home comes with a separate bluestone cottage at the 3808 Point Nepean Road holding.
The buyer will have the option to purchase the boatshed, situated directly below the house on Fishermans Beach accessed via a private walkway. 
<a href="https://www.realestate.com.au/property-house-vic-portsea-121585322" target="_blank">Gerald Delany and Liz Jensen of Kay &amp; Burton have the property</a> inconjunction with Warwick Anderson and IIze Moran at RT Edgar with offers due February 18.
It last sold in 1983 at $714,000 under mortgagee instructions through RT Edgar having previously traded at $450,000 in late 1977.
Businessman James O'Connor's 1983 sale came after his Mercedes dealership, Kew Star Motors hit some financing issues in the recession. 
The recession also saw O'Connor - known as Jimmy like his hotelier father - lose what had been Melbourne's first $1 million home, which he had bought from Maurice Nathan in 1980 for $1.01 million on St Georges Road.
The 1983 Rovina transfer paperwork, lodged by Madden Butler Elder &amp; Graham, was to Pacrana Pty Ltd, a company associated with Brighton businessman Brian Davis, the octogenarian 1950s founder of the Australian housewares company Décor Corp, whose former wife is Marilyn Darling, nee Skinner.
Rovina, on 1990sqm near The Cutting, had been bought in 1977 by O'Connor with vendor finance from the Watkins family of Toorak, who'd owned it for the prior 16 years. Peggy and Larry Watkins had O'Connor, who was living in Barridene apartment 101, in the early 1970s Toorak block, pay back the loan by 1980. The 1977 marketing advertisement suggested the interest rate was 10 percent. 
At the time Mr Jensen at RT Edgar advertised Rovina as a gracious classical residence built around a magnificent atrium. There was a 50 foot by 20 foot living room. Reference was made to the doric columns and bluestone stairs to beach and mooring. Title Tattle would suggest the columns came from the 1960 Whelan The Wrecker-demolished Colonial Mutual building, on the corner of Collins and Elizabeth streets, since Sommers had some columns at his nearby residence.
Owners through earlier years included sharebroker Alfred Mellor from 1954 to 1957; with Toorak couple, Ken and Kath Guest who also owned the original Laughing Water estate at Eltham, holding it between 1957 and 1961.
Décor, based in Scoresby, manufactures 450 products include kitchenware, food-storage containers, wine coolers, picnicware and gardenware.
The company’s annual sales were once advised as US$77.5 million.
Davis’ first product was a plastic tumbler in a plastic case with Décor’s most successful product being a two-bottle portable wine cooler that allows patrons to take their own drinks to restaurants. The award-winning product is included in the New York Museum of Modern Art’s permanent collection.
Davis’ career began at Coles later to work at his uncle’s toy company as sales manager. He then worked at a California-based plastics company for a year, returning to Australia when in 1958, he formed Décor, which was originally called Brian Davis and Co. Pty. Ltd.
Décor first started exporting in 1960, with about 75 percent of the company’s products manufactured in Australia; the rest are made in China having started manufacturing there in 1980.
<a href="https://www.urban.com.au/news/42704-portsea-s-mandurah-sold-at-9-75-million" target="_blank">Mandurah, the double-storey house designed by Wayne Gillespie on the Portsea cliff top</a>, was last summer's top sale at $9.75 million.
Mandurah was a 1,969 square metre holding with tennis court above Fisherman’s Beach.
At $8.25 million, the FlexiGroup founder and chairman Andrew Abercrombie, who owns 25 per cent of the $900 million lease and retail credit company, and wife, Shadda paid 2015's second highest known Portsea price.
The 2,600 sqm property, opposite Relph Avenue, was bought off market from the Newman family, associated with the former Gunns chairman Chris Newman.
It had last sold at $3.5 million in 2002.  
Portsea’s most expensive mansion sale remains <a href="https://www.urban.com.au/expert-insights/investing/28681-palm-beach-v-portsea-jonathan-chancellor-and-margie-blok-offer-30-plus-insights" target="_blank">Ilyuka</a> which former Computershare director Michele O'Halloran sold for $26 million in 2010 to John Higgins, a Victorian house record. The Spanish Mission-style home was built in 1928-29 for oil executive Harry Conforth.
CoreLogic RP Data put <a href="https://www.urban.com.au/expert-insights/investing/10637-portsea-vic" target="_blank">the seaside suburb's median house price</a> at a record $1.8 million.
 
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Rovina headlines Portsea's summer of limited 2016 prestige property listings

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The clifftop Rovina estate which was the season's top Portsea property offering, has been sold for $10.7 million, well above its $8 million-plus price guidance.
CoreLogic RP Data put <a href="https://www.urban.com.au/property-observer" target="_blank">the seaside suburb's median house price</a> at a record $1.8 million.
The five bedroom home has a Mediterranean villa influence interpreted by society architect Geoffrey Sommers.
The eclectic home comes with a separate bluestone cottage at the 3808 Point Nepean Road holding on Fishermans Beach accessed via a private walkway. 
<a href="https://www.realestate.com.au/property-house-vic-portsea-121585322" target="_blank">Gerald Delany and Liz Jensen of Kay &amp; Burton had the property</a> inconjunction with Warwick Anderson and IIze Moran at RT Edgar.
It last sold in 1983 at $714,000 under mortgagee instructions through RT Edgar having previously traded at $450,000 in late 1977.
Businessman James O'Connor's 1983 sale came after his Mercedes dealership, Kew Star Motors hit some financing issues in the recession. 
The 1983 Rovina transfer paperwork was to Pacrana Pty Ltd, a company associated with Brighton businessman Brian Davis, the octogenarian 1950s founder of the Australian housewares company Décor Corp.
Rovina <a href="/news/49522-rovina-headlines-portsea-s-summer-of-limited-2016-prestige-property-listings" target="_blank">headlined Portsea's summer of limited 2016 prestige property listings</a> in January.
 
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Rovina at Portsea sells for $10.7 million

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Design and technology entrepreneur David Trewern, who founded digital agency DT, is selling on the Mornington Peninsula.
The now Byron Bay-based innovator has listed his Portsea golf course estate.
Bordering the Sorrento Golf Club on a tightly held cul-de-sac, the four bedroom, five bathroom residence offers all the hallmarks of a classic 1980s Portsea beach house, according to Peninsula Sotheby's listing agent Rob Curtain.
Recently renovated, the property features a wrap-around deck which overlooks the heated swimming pool, tennis court and 18th fairway.
Trewern and wife Bethwyn paid $3.9 million for Moondarah at Byron Bay in 2015 when it was marketed as arguably Byron Bay’s most classic beach house with direct frontage to Belongil Beach.
Trewern recently founded Fliteboard, an electric watersports company.
This article first appeared in The Weekend Australian.
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Entrepreneur David Trewern lists Portsea estate

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A four bedroom Portsea house located at the top of Portsea Hill has been listed with a price guide of $2.75 to $2.95 million.
Located at 3<a href="https://www.realestate.com.au/property-house-vic-portsea-129432562" target="_blank">717 Point Nepean Road, Portsea</a>, the house was listed by Liz Jenson and Lorna Duffy of Kay &amp; Burton.
The four bedroom three bathroom home is set on a 1,397 sqm block shaped like a Tetris piece (pictured below).
<img src="https://www.urban.com.au/images/2018/10/8/Tetris%201.JPG" alt="">
<div data-reactid="126">Situated between Franklin Road and the Portsea Village, it is a three minute walk to both beaches and the town. </div>
<div data-reactid="126"> Features include level landscaped gardens, a north-facing sun deck, swimming pool and spa plus rear garden provides room for a tennis court.</div>
<div data-reactid="126"> </div>
<div data-reactid="126">The home most recently sold in 2008 when it sold twice within six months for an identical price of $1.2 million on each occasion.</div>
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Portsea house on the hill listed

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A Portsea's bathing box still sits on the market, but is quite close to sale.
Listed for the first time in 25 years with $600,000 hopes, there's been one strong offer coming late summer. 
It came on the market in November with the boat shed being unusually constructed of concrete.
<a href="https://www.domain.com.au/no-1-boat-shed-portsea-front-beach-point-franklin-portsea-vic-3944-2012482650" target="_blank">Boat Shed No.1</a> was originally built as a bunker during World War II below Fort Franklin.
It measures about 12 sqm in size with a large deck.
It was last on sale 25 years ago to Rob Pitt who owns the Sorrento Hotel with wife Anne. Family members have been reluctant to let it go, Title Tattle gleans.
There have been <a href="https://www.youtube.com/watch?v=H95umF81E_U" target="_blank">35,000 plus youtube </a>views.
The listing agent Rob Curtain of Peninsula Sotheby’s International Realty said he was confident the bathing would fetch a higher sale price than the last boat shed to change hands.
It was a 20 sqm timber shed on nearby Shelley Beach which fetched a record $615,000 at auction late last year.
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Portsea boatshed No 1 still on the market

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Mandurah, the double-storey house designed by Wayne Gillespie on the Portsea cliff top, has settled with David and Jennifer Swann its $9.75 million buyers.
It had returned to the market last summer with <a href="/news/39287-mandurah-the-12-million-portsea-clifftop-summer-offering2" target="_blank">a $12 million asking price</a>. It was the highest recorded price of the 2015 summer season.
The five bedroom, five bathroom trophy home was listed by the former Hinkler Books publishing boss Robert Ungar who reportedly had unfulfilled $10 million plus hopes the prior summer.
It was offered through Sotheby's International Realty agent Robert Curtain.
Ungar bought the then two-year-old house at 3820 Point Nepean Road 20 years ago with wife Rosemary.
It sold at the 1995 Australia Day weekend auction for $2,625,000, one of nine clifftop mansions at Portsea and Sorrento and Portsea to sell for above $1 million during 1995.
The Ungar's are off to a new home at Blairgowrie.
Mandurah is a 1,969 square metre holding with tennis court above Fisherman’s Beach.
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Portsea's Mandurah sold at $9.75 million

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There’s two Portsea bathing boxes for sale set among tea trees on the Shelley Beach foreshore.
Agents expect <a href="https://www.realestate.com.au/property-house-vic-portsea-124335854" target="_blank">box number 43</a> (above) to fetch about $500,000.
It was number 23 sold for a record price of $615,000 in late 2015 at auction while Boat Shed No.1 on Portsea’s Front Beach received an offer of more than $700,000 last year, before the listing was withdrawn.
“It wasn’t high enough for the vendors to let go of an asset that they know they can never replace,” Melbourne Sotheby’s International Realty Sorrento’s Rob Curtain told the local paper.
Dubbed by the agent as the “buttercup boatshed”, no. 43 sits at the foot of the main track to Shelley Beach, near the Hemston Avenue car park.
<a href="https://www.realestate.com.au/property-house-vic-portsea-124449762" target="_blank">Number 37</a>, (below) between the car park and Campbells Road stairs, is also on the market for $400,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/Portsea-2.jpg" alt="">
There are about 50 on Shelley Beach.
Kay and Burton’s Liz Jensen is the listing agent of no. 43.
The Shelley Beach boat sheds are north facing, and typically sheltered from prevailing winds.
Mr Curtain is the listing agent for no. 37.
 
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Two Portsea beach boxes listed for sale

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The Credit Suisse advisor Michael Wachtel has bought the Portsea weekender, Blair Ridge for $1.95 million.
The Toorak based Future Fund board member and photographer wife, Linda secured <a href="https://www.realestate.com.au/sold/property-house-vic-portsea-124403442" target="_blank">the three bedroom home</a> at its Australia Day long weekend auction.
There's a large entertaining deck that overlooks the Fiona Brockhoff designed gardens where the RT Edgar agents Warwick Anderson and Ilze Morgan held the auction.
It came on the market at $1,925,000 with underbidding from a woman with a State of Escape handbag.
Wachtel, a past president of the International Fiscal Association, went and got his ANZ chequebook from his black BMW after the auction which had three bidders.
The Armadale barrister James Mighell and wife Alison had owned the home since 1997 when they paid $247,500. 
The famous Bell stockbroking family members were among the crowd as Colin senior and widow Rachel, had the home as a weekender from their Malvern base in the 1950s.
Brothers Andrew and Lewis were there, however Colin junior was sailing on Pittwater.
The late Sun newspaper columnist Jack Cannon and wife Judith sold it in 1997, some 17 years after paying $45,000 in 1980.
Just along Blair Road, Toorak-based entertainment lawyer Andrew Abercrombie and wife Shadda are selling Provenance having spent nearly $10 million on the Wayne Gillespie-designed Mandurah in 2015.
They're asking for over $5 million for the 2000 built, seven bedroom home on its 3,758 square metre holding. 
The couple paid $666,000 in 1998. 
Wachtel is currently selling his five-bedroom Toorak home with a price guide of $6.8 million-plus having paid $3.2 million for a 410 square metre site elsewhere in Toorak where they will build a new house.
This article first appeared in The Weekend Australian.
 
 
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Portsea buy by Future Fund's Michael Wachtel

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The pharmaceutical entrepreneur Jeremy Cutts and wife Robin have bought on the Portsea clifftop.
<a href="https://www.realestate.com.au/sold/property-house-vic-portsea-124374698" target="_blank">The property</a> was offered for the first time in 35 years having last sold in 1982 to the Lansell family for $400,000.  
The large eight bedroom family home near the tip of Point Nepean Road overlooks the bay from its elevated 1685 sqm holding.
There's a mod-grass tennis court and boat mooring.
The South Yarra based couple already own in Portsea, inland some two kilometres away from their new purchase.
The cocktail party tattle on the acquisition has been growing louder ever since Abercromby's agent Tim Derham sold the home 10 days before Christmas. 
Last September Cutts oversaw the $90 million sale of Australian Pharmaceutical Manufacturers, which he established APM in 2002. 
Cutts joins former Swisse Vitamins owner Stephen Ring on the peninsula since he paid $7.58 million last year after the company sold for $1.67 billion.
The reputed $10 million plus Cutts purchase bettered the priciest sale at Sydney's Palm Beach over summer. It was when restaurant entrepreneur John Szangolies bought in Sydney's comparable location, Iluka Road for $9.2 million.
Szangolies pocketed nearly $200 million in 2015 when he sold his Urban Purveyor Property Group private equity group Quadrant.
This article first appeared in the Weekend Australian's Mansion Australia section.
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Entrepreneur Jeremy Cutts buys on Portsea clifftop

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Future Fund board member Michael Wachtel and photographer wife Linda headlined the Easter weekend Portsea auction listings.
It was passed in at <a href="https://www.realestate.com.au/sold/property-house-vic-portsea-124942066" target="_blank">$1.26 million and sold soon after</a>.
There were 27 auction across the Mornington Peninsula the weekend.
The couple's  long-time Back Beach Road weekender was been listed after the Australia Day weekend auction acquisition closer to the bay.
The couple paid $660,000 for the home in 2004.
Kay &amp; Burton agent Liz Jensen has been marketing the home as a 'charming Portsea beach house'.
The classic 'L' shape holiday home has five bedrooms, three bathrooms and a north-facing entertaining sun deck that flows from the kitchen, dining and living spaces.
Wachtel, who is also an advisor at Credit Suisse, spent $1.95 million on Blair Ridge which came with Fiona Brockhoff designed gardens.
It's been a busy time for Wachtel, who also sold his long-held Toorak home last month at a private auction for just under $8 million to Fraser Wilkinson of Wilkinson Electronic Document Solutions.
The Cross Street terrace, which cost $726,000 in the recession-hit Melbourne in 1992, sold through Kay &amp; Burton agents Gerald Delany and Michael Gibson.
They have paid $3.2 million for a 400 sqm Balmerino Ave, Toorak site where they intend building a new town house.
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