Malvern's Stonington sets $52.5 million Victorian residential price record

Stonington, the Malvern mansion of art dealer Rod Menzies, has sold for a Victorian house price record $52.5 million.

The 1890's home, built by Cobb & Co coaches partner John Wagner, bettered the previous $39 million Toorak sale late last year.

It sold to Chinese interests associated with a Malvern East based accountant, whose own Malvern home was sold this week.

Menzies paid $17.5 million for Stonington a decade ago. 

He bought the 1.2 hectare estate from developers who had sliced off large sections of the yard on which were built townhouses and apartments.

The estate once looked like this, with the house in the foreground and the stables in the background.

Menzies used the premises for art sales.

Stonington gave its name to the City of Stonnington, a Melbourne municipality.

The home was designed in the Italianate Victorian style by architect Charles D'Ebro.

It was named for the birthplace of Wagner's wife, Mary, in Stonington, Connecticut. Wagner and his family lived in the house until his death in 1901.

It housed Victoria’s governors for 30 years until 1931.

It was built in 1890 by Cobb & Co coaches partner John Wagner who occupied it until his death in 1901.

It was then leased to the state government, and occupied by state governors.

The government bought it for $35,000 in 1928.

It became Toorak Teachers College for many decades.

Stonington was out of private hands until 2006 when Deakin University sold the then-three hectare holding to developer Hamton for $33 million.

There's a selection of six homes in the Evans Court Estate compound in Toorak which has $50 million hopes.

The record stood when Mowbray, the Toorak home of the established Darling family, sold for around $39 million.