A MALVERN East property transformed from near-derelict house to grand mansion is poised to set a new benchmark for the suburb by breaking into eight-figure territory.
The extensively restored circa-1890 house at 92 Finch St is on the market with a price guide of $9.1 million-$10 million.
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The home, known as Werai, has been extensively restored.
Kay & Burton managing director Ross Savas said the “landmark property” known as Werai was previously “borderline derelict, with few original features remaining”.
The property was revived through a five-year restoration and extension to reinstate its period grandeur, which has been awarded by the Building Designers Association of Victoria (BDAV).
While it was previously “borderline derelict”, its period grandeur is now celebrated.
The restoration effort took five years and won multiple awards from the BDAV.
“The vendors were fastidious in every aspect, so awards from the BDAV are the icing on the cake,” Mr Savas said.
“It has been renovated and extended whilst maintaining the charm of its era.”
With its price guide, the property could become Malvern East’s most expensive home, with the current top recorded sale $7 million for nearby 98-100 Finch St in 2010, CoreLogic records show.
The property’s stately facade includes a restored veranda. Inside the home are vast rooms and 4m ceilings, with an arched hallway, marble fireplaces, ornate ceilings and cornices among the fine details.
A formal lounge and dining room, a sitting room or study, an open-plan living space plus a gourmet kitchen are also part of the spectacular package, capped off by an 18m heated lap pool, a terrace and manicured gardens.
The gourmet kitchen is a highlight.
An 18-metre lap pool is outdoors.
The property, which also has a five-car garage, was listed for sale earlier this year with another agency before returning to the market in late October. It is now being offered via an expressions of interest campaign.
Its transformation won ‘Residential Heritage Design’ and ‘Residential Restoration’ in the 2018 BDAV Building Design Awards, with a commendation for masonry.