The owners of a historic Brighton property who saved it from demolition are set to turn their almost $700,000 investment into mega millions.
Called St Ronans, the grand six-bedroom house was restored to its former glory after it was purchased for $665,000 in 1992, according to CoreLogic records.
The property, which the local historical society has dubbed one of Bayside’s most notable heritage homes, is now on the market for $7.5-$8.25 million.
The original house, a double-fronted Victorian, dates back to the 1850s and was still standing as a part of the current property. The stables have also been converted.
The ‘tower house’ was believed to be built in the 1870s.
A conservatory-style family zone, parapeted tower, high ceilings, marble fireplaces and a walk-down cellar are highlights of the home.
The owners, who did not want to be named, said they were attracted to the location, grand proportions and land when they purchased it 28 years ago.
“Unfortunately, it was in a very poor state of repair so I guess we viewed it as our chance to bring a significant Brighton residence back from the brink of destruction or demolition by neglect,” they said.
“We had to take immediate action to build boundary fences and install hydronic heating — there was no heating other than open fires when we moved in.
“We consulted historic architects and other experts before undertaking any further work.
“The major renovation we undertook was commenced in 1997 and took the best part of two years to complete.”
The vendors said it was a “ground up restoration” with everything needing attention being “dealt with expertly”.
“The significant change to the property was the demolition of some outbuildings and the kitchen area and the construction of new bathrooms, kitchen and of course the conservatory family room,” they said.
The couple are selling to downsize as their four children had flown the coup.
“For us it has been a great family home and it would definitely continue to appeal to any family,” they said.
“It would also appeal to smaller families or couples that have a requirement for independent accommodation for either staff or family and friends.
“Its virtually single-storey layout means that no one is precluded from living here.”
The owners said they would miss sitting in the conservatory with the open fire blazing on a cold, rainy day the most.
“We equally enjoy sitting, eating and drinking in the enclosed courtyard – you can’t see another house and feel you could be in Provence,” they said.
Follett & Co. director Justin Follett said the tower with impressive city views was a highlight as was the “exceptional” restoration.
“There are a lot of older homes that have been demolished and this is one of those last remaining prominent homes so close to Church St,” he said.
“It’s a very rare product.
“It’s got everything; location, presence — they are not building homes like this anymore.”
Mr Follett said buyers from Albert Park, Elwood, Sydney and overseas had all shown interest in the property.
“It’s like going back in time when you walk through the front wrought-iron gates, it’s like a different world in there,” he said.