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$5.39m home in a swanky Melbourne suburb could DOUBLE in price

Why a $5.39million home in an exclusive suburb could be worth DOUBLE the price if it is completely torn down

  • The property in Toorak currently has three bedrooms and a courtyard garden
  • An approved permit to knock it down could see the property value double
  • The 1950s built house could have an estimate worth between $10 to $12million
  • New plans include four bedrooms, state-of-the-art kitchen and butler’s pantry 

A $5.39million home in one of Melbourne’s most exclusive suburbs is on the market.

The property at 9 Denham Place in Toorak, six kilometres from the CBD, currently has three bedrooms and a courtyard garden. 

But an approved permit to knock down the structure and build a new home could see the property value double between $10m and $12m. 

A $5.39million home (pictured) in one of Melbourne’s most exclusive suburbs is on the market

But an approved permit to knock down the structure and build a new home could see the property value double between $10 to $12million (pictured: artist's impression of new plan)

But an approved permit to knock down the structure and build a new home could see the property value double between $10 to $12million (pictured: artist’s impression of new plan)

The property at 9 Denham Place in Toorak, six kilometres from the CBD, currently has three bedrooms and a courtyard garden

The property at 9 Denham Place in Toorak, six kilometres from the CBD, currently has three bedrooms and a courtyard garden

The 613 square metre house has an approved permit to rebuild a home designed by Christopher Doyle Architects. 

Under the approved permit, the old house would be rebuilt with four bedrooms and a state-of-the-art kitchen with a butler’s pantry. 

The current house was built in the 1950s and features a granite kitchen, sun-room, open fire place, barbecue station and master bedroom with an ensuite.  

Other features of the new plans also come with a basement garage with spaces for five cars and a dual studies and recreation room. 

The listing says the house is walking distance from expensive private schools, shopping villages and trams.  

The 613 square metre house has an approved permit to rebuild a home designed by Christopher Doyle Architects

The 613 square metre house has an approved permit to rebuild a home designed by Christopher Doyle Architects 

The current house was built in the 1950s and features a granite kitchen, sun-room, open fire place, barbecue station and master bedroom with an ensuite

The current house was built in the 1950s and features a granite kitchen, sun-room, open fire place, barbecue station and master bedroom with an ensuite

Agent Tim Derham described the new plans as ‘first class’.

‘It’s a Christopher Doyle designed home and it is certainly a very attractive looking building, with great ceiling height,’ Mr Derham told Daily Mail Australia. 

‘It was renovated in the 1980s but needs to be refreshed.’ 

The house is being sold through expression of interest, which will close on September 17.  

Founder of online retailer Kogan, Ruslan Kogan, has purchased a $38.8million space in Toorak. 

A home which had been ravaged by fires on St Georges Road was also sold for $38million by ex-Mirvac director Marina Darling. 

The house is being sold through expression of interest, which will close on September 17

The house is being sold through expression of interest, which will close on September 17

'It's a Christopher Doyle designed home and it is certainly a very attractive looking building, with great ceiling height,' Mr Derham told Daily Mail Australia

‘It’s a Christopher Doyle designed home and it is certainly a very attractive looking building, with great ceiling height,’ Mr Derham told Daily Mail Australia

Read more at DailyMail.co.uk


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