Kay & Burton confirm One Towers Road Toorak fetched $20 million-plus

Kay & Burton confirm One Towers Road Toorak fetched $20 million-plus
Jonathan ChancellorJune 19, 2013

The latest Kay & Burton video report confirms that One Towers Road, Toorak fetched $20 million-plus.

The video presented by Tracey Aitken gives viewers a look within the prestige offering by vendors Brian Watson and his wife, Edwina Le Maistre.

Even before the One Towers sale the prestige agency had notched $260 million in sales over April and May, its best result since 2010. The tally came from 124 sales.

Independently it has emerged Nigel Austin, the founder of the Cotton On chain, was the confirmed buyer of One Towers Road, Toorak.

It will be the home of the Geelong born and based ragtrader and his expectant partner, Melanie.

There is no official confirmation of the actual price of the Georgian-style mansion on Towers Road, Toorak but Property Observer understands it to have fallen short of the Melbourne record of $24 million.

Property Observer gleans it sold for around $21 million, a very healthy result. The initial Fairfax Media report gave the sale price as a record breaking $25 million, and their revised $21.5 million price estimate came with the suggestion it represented a "bargain".

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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