Terracedale, Northcote's $2.78 million record setting mansion

Terracedale, the 1873 Northcote home, sold at mid-week auction for a record $2.782 million when offered through hockingstuart Northcote.

The property at 3 McLachlan Street has easy access to Merri Creek.

The bluestone and brick residence has wide lace-trimmed verandahs.

It sits on a land holding of 1650 square metres, shaded by towering peppercorn trees.

Terracedale was built in 1873 for the pioneer engineer William Brown, one of Northcote's original grand houses.

It was the site of Melbourne's first private telephone service, from the home to church.

Close to Westgarth Village and Rushall Station, the property had been tipped to fetch $2.5 million-plus by hockingstuart's Sam Rigopoulos and Luke Maloney. 

It has been on and off the market since 2007, with $2.65 million sought on its 2012 relisting.