The grand home of an ex-Ford executive known as “the father of the Falcon” has been driven into the top echelon of the South Melbourne market.
Ian Vaughan, Ford Australia’s longtime product development vice-president, sold his renovated Victorian at 46 Howe Cres for an undisclosed price understood to have fallen in the middle of its $5-$5.5 million quoted range.
CoreLogic records show the property was the most expensive house sold in South Melbourne in almost three years, and the third priciest ever, behind the $6.25 million 49 Howe Cres and $5.3 million 34 Ferrars Place.
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The 1864 residence was originally designed by founding member and former president of the Victorian Institute of Architects, Charles Webb, whose most famous creations include the Melbourne CBD’s Windsor Hotel and Royal Arcade.
Webb also designed Wesley College, the Alfred Hospital and South Melbourne Town Hall, according to the Australian Dictionary of Biography.
Marshall White Port Phillip selling agent Nicholas Hoo said a clever renovation by Mr Vaughan’s daughter, architect Anna Vaughan, had restored the classic home’s front rooms and added a modern extension to the rear.
It had also importantly opened up the house to natural light via a striking glass-encased atrium in the centre, and a series of skylights.
Mr Hoo said the four-bedroom property’s low-maintenance nature and position in “triple-A South Melbourne” had attracted the buyers — a couple from regional Victoria seeking a Melbourne base.
The house passed in to them at auction, at $4.95 million, and sold after about half an hour of negotiations.
A 100-strong crowd watched the home go under the hammer, Mr Hoo said.
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