German consul South Yarra plans yet to be unveiled

The sale of the former German Consulate in South Yarra - listed with $5 million hopes - remains wrapped in something of a mystery.

The property was sold last October for an undisclosed price, with its delayed settlement terms yet to reveal its sale price. A caveat suggests its been sold to interests associated with Ian Wright of the Southbank offices of the Paragon Financial Group. Ian Wright founded BMF Construction in 1975.

There's been no development application lodged with Stonnington Council.

In partnership with Caine Property, the local developer BMF Construction director Ian Wright is busy building a prestige four apartment Domain complex in Domain Street, South Yarra where the website suggests one apartment remains unsold through Kay & Burton. It's a David Hicks-designed block with Jack Merlo landscaping on the holding that was bought last year for $6.45 million on nine month delayed settlement terms.

The 480 Punt Road offering was listed by Colliers International agents Ben Baines and Jeremy Gruzewski, in conjunction with Matt Davis and Gerald Delany of Kay & Burton.

The property was listed by the Federal Republic of Germany who acquired the large mid-Victorian residence in 1955.

The residential zoned, 2,800 square metre block contains several other separate buildings constructed between the 1850s and 1930s. 

Prior to the German Consulate occupying the site, it was owned and occupied by a number of large, well-known families including the Manifolds, Grahams and Morells.

Expressions of interest closed 17 September with Ian Wright's caveat noting the 28 October contract of sale.

There have been no further dealings on the title since then.