Cloyne, the noteworthy Toorak trophy home, sells

Cloyne, the noteworthy Toorak trophy home, sells
Cloyne, the noteworthy Toorak trophy home, sells

Cloyne, the landmark Toorak residence, has been sold for around $3.8 million.

The Sotheby's International agents Greg Herman and Robert Curtain reduced the expectations to a $3.95 million asking price earlier this month.

With prominent porte-cochère, Cloyne is one of the few substantially intact homes designed in the 1920s by Harold Desbrowe Annear.

It was built at 611 Toorak Road, Toorak in 1926 for Louis Nelken, reputedly a former Royal family butler, who married into the establishment Baillieu family. He was a director of Australian Knitting Mills.

It last sold in early 2011 at $3.5 million, thereby reflecting 2.3% annual growth before its latest acquisition by Chinese buyers, Huiqin Zhang and Hongyuan Wang.

The eccentric five bedroom, five bathroom house initially had a $4.8 million asking price.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Melbourne

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