Developer Michael Yates sells South Yarra mansion for $11 million

Developer Michael Yates sells South Yarra mansion for $11 million
Developer Michael Yates sells South Yarra mansion for $11 million

Melbourne developer Michael Yates has sold his five-bedroom South Yarra mansion after five months.

It has reportedly fetched around $11 million, less than the "$12 million-plus" price tag at which the house was marketed last September.

He had originally tried to sell the Walsh Street home off-market with hopes of $15 million.

Yates's 1930s home sits on an 800-square-metre site near the Botanic Gardens.

The house was sold by Gerald Delany and Andrew Baines of Kay and Burton, just days after Yates had commissioned rival agency Marshall White to take the house to late March auction.

Yates paid $1.73 million in 1997 for the house that was renovated by the late interior designer Stuart Rattle.

Tags: 
Title Tattle South Yarra

Comments

Be the first one to comment on this article
What would you like to say about this project?