A prestigious mansion on Macquarie Road in Toorak has shattered property records in Melbourne, setting a new benchmark for 2024 with a sale price of approximately $70 million. This makes it the largest residential transaction in Victoria for the year and the fourth-largest nationwide.
The six-bedroom property, located at 2 Macquarie Road, was initially listed in March 2024 with an asking price between $75 million and $82.5 million. However, following a price revision, it was re-listed for between $70 million and $75 million. Industry insiders confirmed that the mansion has now been sold for around $70 million, marking it as the third-largest residential sale in Victoria’s history.
The Macquarie Road mansion’s price tag places it behind only cryptocurrency entrepreneur Ed Craven’s $80 million purchase of a “ghost mansion” on St Georges Road in 2022, and former MessageMedia founder Grant Rule’s $74.5 million acquisition of another historic St Georges Road property in 2023.
This record-breaking sale has positioned the Toorak mansion as the fourth-largest home sale across Australia in 2024. It surpasses the $61.75 million sale of a subpenthouse at One Circular Quay in Sydney’s CBD in October, but still trails behind ‘Alooringa’, a grand estate on Victoria Road in Bellevue Hill, which sold for $80 million earlier in the year.
This transaction highlights the continued strength of the luxury real estate market, even amid broader economic uncertainties.
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