A PAIR of Kew mansions, including one with the interest of colourful identity Mick Gatto, have been snared for around the $10 million mark in the past month.
But these deals took hundreds of days to complete.
The Butleigh Wootton mansion at 867 Glenferrie Rd, Kew, changed hands for an undisclosed sum late in June with a Kew local understood to be the buyer.
Speculation has put the price anywhere from $8.2 million to north of $11 million, but agents for Savills who brokered the deal remain tight-lipped.
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It had most recently been marketed with a $10-$11 million asking price, but had attracted interest as high as $14 million, according to a different agent who initially listed the home in October last year.
The historic estate dates back to 1884, was a wedding venue for most of the 1900s, but was bought by Nick Lambros and partner Maria Liapis for $11.3 million in December, 2016.
It was sold by its mortgagee the Westpac Bank.
In addition to the bank, four other parties held caveat’s against the home, including a company in the name of Cheryl Ann Gatto — wife to colourful identity Mick Gatto.
The new owner is believed to be a local family who had looked at the house when it was sold in 2016 and intend to use it as a family home.
Meanwhile, after 242 days on the market, and three real estate agents, a French provincial style mansion with five-bedrooms and six-bathrooms, not to mention a basement carpark for 10, snared a $9.7 million sale in late June.
The Phillip Mannerheim mansion at 13 Wimba Ave, Kew, replaced a brick house that sold at the address for $2.55 million in 2014.
Jellis Craig’s Dan Song said the house had eventually attracted multiple buyers with budgets above $8 million and sold to a large family from Brighton who appreciated the versatile floorplan and proximity to schools.
Another historic mansion with a $15 million asking price at 5 Willsmere St, Kew, remains for sale after more than 1000 days.