Provenance at Portsea sold by Andrew Abercrombie

Former Liberal Party treasurer and businessman Andrew Abercrombie and wife Shadda have sold their limestone Portsea holiday home.

Provenance is understood to have sold for around $5 million, having spent over 150 days on the market before its sale through Kay & Burton agent Liz Jensen.

Abercrombie, reportedly brokered the lucrative float of his company FlexiGroup from the home, which is today worth over $1 billion.

He paid $668,000 in 1998 for the holding which now comes with a seven bedroom, five bathroom house along with a limestone guest cottage, barbecue pavilion, tennis court and inifinity edge swimming pool sit on the 3,750 sqm parcel.

The Toorak based Abercrombie couple have recently completed a new waterfront holiday home nearby.

Provenance has been bought by the property developer Jonathan Altson and his wife Elizabeth who are whispered to have recently sold their three level, four bedroom Brighton home.

This article first appeared in The Weekend Australian Mansion Australia section.