Toorak property sells at record land rate

A Toorak property with potential for further development has been snapped up by a Melbourne developer at auction for $6.4 million.

The 22 Lansell Road property is a single level residence and was marketed as a redevelop, rebuild or renovate opportunity. According to the selling agents, the property sold at a record land rate.

The selling agents were Teska Carson’s George Takis and Barry Novy, along with RT Edgar’s Jeremy Fox and Tim Wilson.

Located on the corner of Tahara Road and surrounded by some of Melbourne’s most prestigious homes, the property comprises a large, two bedroom, home with library, double lock-up garage and landscaped gardens on a 606 sqm site.

Takis said a redevelopment, including a penthouse elevation, could offer city and bay views.

“This was an extremely strong result, and a superb result for the vendor, reflecting the ongoing strength of the market for properties in exclusive locations,” Takis said