Alan Stockdale struggles again to sell his Armadale home

The Armadale home of former Liberal Party federal president and state treasurer Alan Stockdale was passed in at $3,525,000 on Saturday after it fell well short of its $3.95 million reserve price.

Marshall White agent Marcus Chiminello had the warehouse home of the Liberal Party heavyweight and his wife Dominique Fisher up for sale last December.

The property occupies a 410-square-metre block and includes two dwellings separated by a courtyard.

The main two-storey home is a former postcard factory, developed around 1900. It has been reconfigured to offer four bedrooms, a study and two living zones opening to the paved outdoor area.

Across the yard is a single-storey self-contained unit with two bedrooms.

Stockdale was Treasurer for seven years in Jeff Kennett's government, from 1992 to 1999, and is credited with rebuilding Victoria's finances following a crash in the economy.

Marshall White's Marcus Chiminello and Susan McGlashan with Ray White Carnegie's Josh Hommelhoff were managing the expressions of interest campaign last December.

In June last year, the former Toll executive Mark Rowsthorn sold another swish Armadale warehouse conversion.

The 99-year-old former Golden Crust Bakery, on a 915-square-metre block in Sutherland Street, sold for $11.5 million to Village Roadshow chief operating officer Clark Kirby and his wife, Sarah, a former television presenter.