One of Brighton’s last major land holdings, which could set an eye-watering suburb price record, is still looking for love in 2019.
The faded mansion at 1 Bay St has been relisted by JP Dixon with a price guide of $20-$22 million.
Its lofty price hopes have dropped significantly from its original listing price of $27-$29 million with RT Edgar Toorak. The waterfront mansion known as The Moorings first hit the market more than 200 days ago in July 2018, but it’s yet to find a buyer.
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It is understood the 2000sq m estate, which has a large swimming pool and sweeping lawns overlooking the bay, was owned by Olympian and former Gold Coast mayor Ron Clarke in the late 1970s.
The 1920s mansion has been unoccupied since it was snapped up by Chinese buyers five
JP Dixon agent Will Maxted, who is selling the Spanish Mission-style home with the agency’s director Jonathan Dixon, said the property’s incredible location was second to none.
“It’s absolutely one of the most exciting land holdings in Melbourne, and it’s one of the last of its size in the Golden Mile of Brighton,” he said.
“There is a great deal of scope here in terms of development, and there are some buyers looking to build three or four townhouses on the land, with council approval.”
Other buyers were looking to renovate the existing property, or build their own dream home on the land, Mr Maxted added.
The sprawling block could pass Brighton’s house price record, set by the $22 million sale of 39 Seacombe Grove in 2015.
CoreLogic data shows it last changed hands for $13.1 million in May 2014.
The vendors relisted the property with JP Dixon in February this year. Mr Maxted said they were already in talks with developers about buying the land.
The elaborate home has 26 rooms, including a six-bedrooms, a music room, gallery, games room, play area and hobby room.
SUBURB PROFILE: Brighton
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