Dodo founder Larry Kestelman seeks to exhume Brighton trophy home market with $12 million-plus listing
Larry Kestelman, chairman of the Melbourne Tigers basketball team, has put his newly constructed Brighton mansion on the market for $12 million-plus.
Justin Follett of Kay & Burton is handling the listing of 10 Mulgoa Street home, which was built by Mr Kestelman’s construction company, Shangri-La Construction.
The 1400-square-metre property boasts five bedrooms and eight bathrooms.
As well as having a 200-bottle wine cellar, 12-seat theatre, gym and six-car garage the house also features a central built-in aquarium, a billiard room with adjoining ‘vodka bar’ and swimming pool and spa.
Kestelman reportedly made about $150 million earlier this year after selling his telecommunications companies telcos Dodo and Eftel to M2 Telecommunications.
Brighton has recorded a few sales above $10 million. The suburb's last big property purchase was earlier this year when the retired Australian cricket captain Ricky Ponting spent close to $10 million on an Edwardian mansion.
But many other key listings such as Kinane, sold in 2006 for a record $11.2 million, and put on the market in 2011 with $20 million hopes were not to find buyers at this level.
Retired cricketer Shane Warne was reputedly seeking $20 million for his Brighton home in spring 2012.
A Spanish-inspired property with a pool and tennis court directly opposite Dendy Beach scheduled with $8 million plus in late 2012 hopes didn't sell either.
