Ahmed Fahour seeks $40 million plus for Hawthorn's Invergowrie
The former Australia Post boss Ahmed Fahour has $40 million to $44 million hopes for the Hawthorn trophy home, Invergowrie.
Fahour bought it off-market with wife Dionnie in 2013 for $22 million, when he was Australia’s highest-paid public servant.
The Victorian record remains unchallenged as it sits at around $52.5 million for the Stonington mansion in Malvern.
Its June 19 expressions of interest public marketing has surprised industry players since most record setters sell off-market or at private boardroom auctions.
Its marketing was launched on the listing agent's instragram.
Fahour, now executive chairman of packaging group Pro-Pac, had renovated the historic home that sits on a 1.11 hecatre block, having lodged $4.5 million renovation plans.
Its features a five-bedroom main home, plus a three-bedroom brick house, a bluestone two-bedroom cottage and an old bluestone hall that can be used as a garage, gym or studio.
He reinstated a tennis court.
The property, once known as Burwood, features a working bell tower and a billiards room.
Fahour is downsizing after recently buying a $16 million mansion in Kinkora Road, Hawthorn.
“Despite the negativity surrounding some aspects of the property market at the moment, I don’t think there’s been a better time in the history of Melbourne real estate to sell a prestige or trophy home,” listing agent Marcus Chiminello told The Australian.
It last traded when sold by Peter Hill, the skateboarding Globe International co-founder and his wife, Angela.
The colonial-gothic style mansion on Coppin Grove home - once a finishing school for the city's young ladies - previously traded at $10.75 million in 2002.
The first president of the Legislative Assembly, Sir James Palmer, began building the estate in 1846. He had been the mayor of Melbourne in 1845.
Invergowrie (pictured below) is listed on the Victorian Heritage Register.
At one time it was owned by theatrical entrepreneur George Coppin, who is said to have tried to demolish it. The building was saved when businessman Sir William McPherson bought it. Sir William (pictured below) rose to political heights as premier of Victoria in 1928.
On his death, the property was handed over to the Association of Headmistresses of Independent Schools when it became the Invergowrie Homecraft Hostel and was later headquarters of the Victorian Post Secondary Education Commission.
It was bought by the Coogi knitwear entrepreneur Jacky Taranto in 1992 for $2.7 million who sold in 2002 to the Hills.
Chiminello said the vendor wanted to ensure the estate would be properly maintained and cared for.
“They don’t want it to be handed over to someone who will leave it vacant for 10 months of the year.”
Images courtesy of the State Library of Victoria and The Invergowrie Foundation.