Care to buy a mansion in Melbourne?

Written by realestateview.com.au in Buying on July 26, 2019

With winter’s grip firm and freezing, there has never been a better time to treat yourself with a casual $40m splurge. That’s real Bruce Wayne mansion money, and when you get a glance at this Melbourne property’s parking facilities, you will know what we mean by that reference.

Walking along Shakespeare Grove, you will undoubtedly be required to repeatedly pick your jaw up from off the ground, as the area is renowned as one of Melbourne’s most iconic and stunning pockets. Once you come upon the manicured gardens and mature oaks that announce ‘Avon Court’ at 18-20 Shakespeare Grove, expect to never find your jaw again. The home is perfectly framed by its surroundings, with the towering deciduous trees helping to nestle the otherwise totemic home on top of its perch overlooking Melbourne.

18-20-shakespeare-grove-hawthorn-vic-3122-real-estate-photo-2-xlarge-12270576

Avon Court features immaculately retained parquetry flooring throughout

Originally advertised between $45-50 million in 2018, the expected price has been lowered to a much more achievable $40 million, so now is the time!

Constructed in 1976, the property has seen a number of renovations and additions, resulting in a home that boasts…prepare yourself:

Nine spacious bedrooms, seven bathrooms for each day of the week (marble finishes of course), one ballroom (sorry, just the one), a library, bar, billiards room, a full-sized gym with steam room, two swimming pools (one with an in-pool cocktail table), an outdoor $250,000 no-glare television, a 10-car garage (or space to keep your batmobile and various accouterments), 18-seat cinema, 4000+ bottle wine cellar, guest suite and caretaker quarters.

And yes, this is all only ten minutes from Melbourne CBD, perched on top of St James Park Hill in Hawthorn.

18-20-shakespeare-grove-hawthorn-vic-3122-real-estate-photo-5-xlarge-12270576

18-20-shakespeare-grove-hawthorn-vic-3122-real-estate-photo-7-xlarge-12270576

Tighter economic conditions and a slowing real estate market may indicate why Avon Court remains on the market, but is also an indication that as the market swings back into positive growth, a buyer is expected to snap it up.

The vendors, a local family, bought the 2025sqm building in 2014 for $19.8 million from Autobarn co-founder Garry Dumbrell, who himself bought it in 2009 for $20.25 million from former Richmond Football Club president Clinton Casey. Casey bought the property for $5.7 million in 2002 after he sold another property down the road at 26 Shakespeare Grove for $3.9 million. 26 Shakespeare Grove is also currently on the market and its price was itself recently discounted by $1 million by its owner, celebrity manager Ralph Carr.

With the property's connection to Richmond Football Club, these additions are no surprise.

With the property’s connection to Richmond Football Club, these additions are no surprise

Considering the marked decline in property prices across 2018 as well as the less-than-certain short term future of the Australian economy, there may be a chance for a further discount on Avon Court’s expected price. The property shares a fence with former Australia Post boss Ahmed Fahour’s home, which he placed on the market in May of 2018 for a similar price. Fahour invested $4.5 million into renovating his historic bluestone property but withdrew the home from the market late last year as is a common strategy for properties that sit up in this price bracket.

 

18-20-shakespeare-grove-hawthorn-vic-3122-real-estate-photo-11-xlarge-12270576

18-20-shakespeare-grove-hawthorn-vic-3122-real-estate-photo-4-xlarge-12270576

Built for those who live to entertain, Avon Court, of course, includes its own function wing, complete with a teppanyaki kitchen that overlooks the twinkling lights of the Melbourne CBD in the distance.

Down below, in the extensive grounds behind the home, an outdoor kids soccer court and playground make this home something that not even the most imaginative 5-year-old could conjure up in their dreams.

18-20-shakespeare-grove-hawthorn-vic-3122-real-estate-photo-13-xlarge-12270576

If you have been looking for somewhere to store your crime-fighting multi-terrain mobile or if you have just realised that it was you that has still failed to claim their Tattslotto ticket, there are few homes in Melbourne that can come close to matching Avon Court for its grandeur, elegance, luxury, views, and location.