The record for the highest property sale in Australia has been shattered with the discreet sale of a Melbourne mansion for around $150 million. The Coonac estate, located in the affluent suburb of Toorak, surpassed the previous national record by about $20 million, according to the Australian Financial Review. This grand Italianate residence, built in 1867, features 20 rooms, lush gardens, a tennis court, a pool, and a cabana.
Previously owned by billionaire property developer Paul Little and his partner, Jane Hansen, the couple acquired the estate for $14.5 million in 2002 and undertook substantial renovations. Coonac was initially constructed for Robert Bruce Ronald, a prominent Victorian businessman and pastoralist.
The previous record was held by two Sydney properties, Elaine and Uig Lodge, each selling for $130 million. Remarkably, Coonac was once repurposed as a Commonwealth rehabilitation centre from 1948 until the 1980s. It is notable for its architectural significance, bridging the elegant Italianate style of earlier homes with the opulence of the 1880s boom-style mansions.